MAXXAM Group Inc., a holding company controlled by Houston investor Charles E. Hurwitz, has accumulated 6.7 percent of UNC Resources Inc. and has requested a seat on the company's board of directors, UNC said yesterday.
MAXXAM also has told UNC that it "is considering purchasing additional shares" and has received permission to do so from federal regulators, according to documents filed by MAXXAM with the Securities and Exchange Commission.
UNC, based in Falls Church, said only that it has received MAXXAM's request for a board seat and "will be responding in due course."
UNC announced last month that it is getting out of the uranium-mining business to concentrate on services, manufacturing and new technologies.
The local firm won a $300 million legal settlement last summer, including about $230 million in cash. As of Dec. 31, UNC had about $123 million in cash and short-term investments, a spokesman said.
Hurwitz is the chairman and chief executive of MAXXAM, which was created by the merger of three companies: Maxxam Group Inc., a real estate management and development firm based in New York; MCO Holdings Inc., an energy company based in Los Angeles; and the Federated Development Co., a real estate firm based in Houston.
Hurwitz could not be reached for comment.