MAXXAM Group Inc., a holding company controlled by Houston investor Charles E. Hurwitz, has accumulated 8.7 percent of the stock of UNC Resources Inc., according to documents filed with the Securities and Exchange Commission.
MAXXAM said it has spent $18.2 million to buy 1.9 million shares of the Falls Church company, which makes aerospace components and factory machinery and supplies nuclear fuel and reactors.
In March, Hurwitz said he had requested a seat on UNC's board of directors. He would not say yesterday whether UNC has answered his request, and UNC could not be reached for comment.
Chevron Corp. owns 36.6 percent of UNC and disclosed recently that Hurwitz had asked whether Chevron might sell part of its share. Chevron's shares are not on the market now, said Charles B. Renfrew, a Chevron director and vice president who holds a seat on UNC's board.
UNC President and Chief Executive Dan A. Colussy said last month that the company is "talking to Mr. Hurwitz about how he can participate in the company."
Hurwitz is the chairman and chief executive of MAXXAM, which was created by the merger of three companies: the Maxxam Group Inc., a New York real estate management and development firm; MCO Holdings Inc., a Los Angeles energy company; and Federated Development Co., a Houston real estate firm.
UNC has transformed itself in the last year from a failing diversified conglomerate into a focused and profitable manufacturing and services company.