Word: opelika
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Dates: during 1950-1959
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...magnetic tape (others: Minnesota Mining & Manufacturing Co., Audio Devices Inc., Reeves Soundcraft Corp.), is the fastest growing company in the new field. Its sales, which rose 62% to $1,600,000 last year, are expected to hit $2,500,000 this year and quadruple next year. This week in Opelika, Ala., ORRadio rushed to completion part of a new plant to start commercial production of tapes used to rebroadcast TV programs...
Unlimited Market. Back in Opelika after war's end, Orr set up shop with six employees to make the improved tape. He invested $250,000 realized from the sale of Opelika's radio station WJHO and other holdings, sold stock to friends by incorporating in 1950, raised another $246,675 in 1953 by a public offering of 149,500 shares of stock. After licking production problems, he developed a new tape coating (Ferro-Sheen) with unusually high fidelity. This caught the eye of the Ampex Corp., a maker of wire recorders and other electronic equipment, which had gone...