Wang Laboratories said it agreed to acquire the non-capital resources of the Avco Computer Services unit of Avco, a wholly owned subsidiary of Textron.
Frederick A. Wang has been named president of Wang Laboratories, the Lowell, Mass.
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Wang Laboratories earned $7 million in its first fiscal quarter, an 87% drop from its year-earlier earnings of $51.2 million.
Wang Laboratories Inc., projecting an operating loss in its fiscal fourth quarter as a result of
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The company said it will close all of its manufacturing plants for two weeks in July, sending 6,000 employees on a mandatory summer vacation.
Wang Laboratories, stung by sluggish computer sales, said its fiscal third-quarter profit plummeted 66% from a year earlier.
John F.
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Wang Laboratories introduced four models of its IBM-compatible professional computer and other add-on products for its personal computers . . .
Wang Laboratories said it expects its revenue in the current quarter to exceed last year's $553 million . . .
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