If Control Data Corp is to emerge from 1989 at all, it will as a fitter and even leaner company than it already is. The Minneapolis mainframer says in its annual report that to meet its banks’ profit mandate, it expects that meaningful gains from special items, such as asset sales, will be required during 1989. The company is now expected to seek a buyer for its loss making and cash-draining ETA supercomputer business, and perhaps the Cyber mainframe business as well, and it hinted that it would bring in investment partners for its Imprimis Technology OEM storage products business when it spun it out as a free-standing company last summer. It is also in talks with its lenders to try to persuade them to relax their confining covenants.
Content from our partners
