% steph@ape (/home/stephan) %
% cat reader.sh 
#!/bin/ksh
trap 'exit 0' INT
pipe=named_pipe outfile=out
[[ -p $pipe ]] || mkfifo $pipe

exec 0<$pipe
while dd if=$pipe bs=64 count=1 >> $outfile
do
    print .processing
    sleep 2
done

% steph@ape (/home/stephan) %
% jobs
[1] +  Running                 ./reader.sh &