This is from a local paper, but it's nice to see the company in print. The reference to AZC is toward the bottom of the article.
Best,
TMan
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6/15/99 - The Arizona Republic AZ Inc. Column
Jun. 15 (The Arizona Republic/KRTBN)--INSURERS PAY RESTITUTION: The Arizona Department of Insurance said its
watchdog efforts have resulted in orders directing 101 insurance companies to pay policyholders $1.8 million in restitution
over the past three years.
The department said the same insurers also were forced to pay $1.7 million in civil penalties.
Oversight of property, casualty, life and health insurers, along with medical businesses, is performed by DOI's Market
Conduct Examination Division. Insurer infractions include misrepresentation and failure to handle claims within a reasonable
period.
BANK REGULATORS PICK CHIEF: Arizona Banking Superintendent Richard Houseworth was named chairman of the
Conference of State Bank Regulators at the group's annual meeting last week.
The organization is made up of state officials responsible for chartering and regulating the nation's 6,591 state-chartered banks.
ORATEST HAS CHINA MARKET: Zila Inc. said it has signed a five-year contract to provide its OraTest oral cancer
detection product in China.
Distribution will be handled by Shanghai Hunting Medical Science Co. Ltd. The contract specifies minimum quantities valued
at more than $15 million over the contract period, the Phoenix pharmaceutical company said. Shipping is scheduled to begin in
September.
OraTest has not been approved for sale in the United States, but is available or has been approved in 14 countries.
PHELPS DODGE MINE SOLD: Phelps Dodge Corp. said it has sold a fluorspar mine, which produces a raw material for
refrigerator coolants and deodorants, to the South African Land Exploration Co. for $12.2 million.
The Witkop Fluorspar mine in South Africa produces 103,000 metric tons of fluorspar, or 2.5 percent of world demand, a
year.
Witkop is the second South African asset Phoenix-based Phelps Dodge has sold in the last year. In November it agreed to sell
a 44.6 percent stake in zinc producer, Black Mountain Mineral Development Co. to Anglo American Plc.
AT A GLANCE: Bill Dobbins, the Chase Manhattan Bank executive in charge of its Tempe credit card center, has been
promoted to senior vice president... . AZCO Mining Inc. said it has made considerable progress in the development of its
Black Canyon mica mine and Glendale processing plant. The plant has been built, and equipment is being installed.
Compiled from wire and staff reports. To submit a news item to AZ Inc, call the Business desk at (602) 444-8142, fax us at
(602) 444-4439 or send e-mail to repbiz(at)pni.com.
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Visit Arizona Central, the online edition of The Arizona Republic, on America Online (keyword: Arizona Central) or on the
World Wide Web at azcentral.com
(c) 1999, The Arizona Republic. Distributed by Knight Ridder/Tribune Business News. ZILA, PD,
END!A$9?AR-BIZ-BRIEFS |
