Giant Group demanded a place on TRE’s board.
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Beverly Hills-based Giant, a holding company that controls nearly 15% of TRE, gave the Los Angeles firm until Aug. 21 to provide its KCC Delaware Co. subsidiary with a list of current shareholders and one-third board representation. KCC’s chairman and chief executive, Burt Sugarman, said that TRE, a manufacturer of aerospace and home products, has failed to respond to “sincere efforts at cooperation” and “refused” him and other KCC officials representation on the eight-member board. In a letter to TRE, Sugarman said, “We must protect our substantial investment in TRE by taking all appropriate action.”
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