Newspaper article THE JOURNAL RECORD

Frontier Splits into Four Companies

Newspaper article THE JOURNAL RECORD

Frontier Splits into Four Companies

Article excerpt

Frontier Engineering hopes to expand by breaking up.

Rather than seek growth via consolidation and mergers, the Stillwater firm has chosen to develop its four operating divisions into new companies.

"This spinning-off of company divisions will not only allow each new company to better focus on its products, services and customers, but will also enable each to become more competitive," said Dr. Ed Shreve, Frontier co-founder, "and will provide new growth opportunities for the managers and employees of the new companies." Two divisions will be separated from the parent through a management-led buy-out, becoming employee-owned. The other two will retain current management and shareholder principals. They also will have an employee stock ownership plan. No other financial aspects of the split were disclosed. Under the reorganization to take effect today, the four new companies are: * Frontier Electronic Systems, the state's largest engineering and manufacturing firm dealing with space equipment and components. Peggy Shreve, co-founder and president of Frontier Engineering, will be principal stockholder and president. The firm will continue its engineering, design, development and manufacturing of parts and components. Among its customers are TRW, McDonnell Douglas, Hewlett Packard, the National Aeronautics and Space Administration, the U.S. Air Force and the U.S. Navy. Frontier Electronic Systems is the Navy's sole supplier for signal distribution systems in its surface fleet. It also supplies parts and components to the Department of Defense Jet Stars system, an aerial radar platform built into a Boeing 707 to provide real-time information about troop ground movements to military commanders. When the reorganization is complete, the company will have 130 employees working out of an 86,000-square-foot facility in Stillwater. * Frontier Engineering will become the name of the research and development arm, formerly known as the Applied Research and Technology Center. The Stillwater firm will concentrate on developing commercial electronic instruments and systems, but will continue to supply intelligence equipment to U. …

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