Company News
Published Sep 28 2001
Harvest States, the grains and foods division of Cenex
Harvest States Cooperatives, Inver Grove Heights, agreed to
acquire the assets of Casa Christina Mexican Foods, Inc.,
Newton, N.C., which makes flour and corn tortillas and tortilla
chips. The transaction is subject to a due diligence review and
necessary approvals. Terms were not disclosed.
BORN, Minnetonka, has formed a partnership with
Executive Manufacturing Technologies Inc., headquartered in
London, Ontario. Under the agreement, BORN will provide
clients with manufacturing intelligence products based on
VisualPlant, which allows manufacturers access to real-time
and historical plant-floor information via the Web.
XOX Corp., Minnetonka, signed a letter of intent to merge
with Tele Digital Development Inc., a private Minnesota
corporation that makes operating software for the wireless
communications markets. The merger is still under negotiation,
but it is anticipated that, upon completion, XOX shareholders
will own about 23 percent of the outstanding shares of the
merged company and Tele Digital shareholders will own about
77 percent.
3M Co., Maplewood, said its board of directors has authorized
the repurchase of an additional 3 million shares in calendar
year 2001, increasing the total authorization for the year to 13
million shares.
BMC Industries Inc., Minneapolis, said that as a result of the
slowing economy, it will have greater-than-expected losses in
the third quarter. It expects to report consolidated revenue of
about $75 million to $80 million for the quarter compared with
year-ago revenue of $90.2 million. BMC expects to report a loss
in the range of 13 to 16 cents per diluted share for the third
quarter. The company earned 10 cents per diluted share in the
year-ago quarter.
RecruitUSA Inc., Minneapolis, said it will sever its
partnership with Headhunter.net and will no longer support the
recently acquired company through their integrated job posting
service. RecruitUSA said it will continue to send clients' job
postings to Headhunter.net under current packages as long as
the job board continues to accept their postings.
Rehabilicare Inc., New Brighton, said the Food And Drug
Administration has granted 510(k) clearance for marketing of
the new ProMax Transcutaneous Electrical Nerve Stimulator
device.
Graco Inc., Minneapolis, will hold a grand opening
celebration today for the 165,000-square-foot addition to its
Riverside facility.
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