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This article by Barbara Fox was prepared for the June 5, 2002 edition of U.S. 1 Newspaper. All rights reserved.
New in Town
Precision Instrument Corporation, 4 Chelten Way,Trenton 08638. A.J. Phillips, president. 609-396-9810; fax, 609-396-9811.An entrepreneur who has been quietly working in Trentonin the former Hill Refrigeration complex is nearly ready to make aprototype for an electrochemical sensor system that can do analysison lubricating fluids used in internal combustion engines. He expectsto finish beta testing, hire 20 to 25 more people, and go into production— all in two years. Currently he has two on-site employees, includinga CFO, and two summer interns (a Harvard MBA and a chemical engineerfrom the University of Delaware).The son of a computer scientist and an accountant, Alan J. Phillipsstarted his first technology company shortly after graduating in 1988from Radford University in Radford, Virginia. For his second firm,he recently landed a five-year $450,000 loan from the Economic DevelopmentAuthority’s New Jersey seed capital program. The company also had$250,000 from the New Jersey Commission on Science and Technology.Phillips, who is single, bootstrapped his first company 10 years agoand has been working in stealth mode in Trenton for a year. This companyis an indirect descendant of EG&G Princeton Applied Research, whichmoved from the old building at 7 Roszel Road to Tennessee in 1988.”An employee from that company came to my home to demo some equipment,”says Phillips, “and that parlayed into my chief scientist andtwo analog design engineers.””We have tangible products, and we have tangible customers, yetI am having to pay the price of the Internet’s downfall in terms ofmy valuation,” says Phillips. “I don’t agree with that, butthat is what we are up against.”Top Of PageCrosstown MovesBargain Books & Music, 116 Tices Lane, Unit B 2,East Brunswick 08816. 845-783-9877; fax, 845-774-7665. Home page:www.bargainbooks.comThe former home of Bargain Books and Music was the Princeton ShoppingCenter, but the Princeton Public Library now occupies that space duringits construction period. The discount bookstore has moved to EastBrunswick, where it is now open on Saturdays and Sundays.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
