Company News
Published Sep 25 2001
Nortech Systems Inc., Wayzata, said its aerospace systems
division has a $1.2 million contract to supply cable assemblies
for the Multiple Integrated Laser Engagement System 2000
military-training program.
3M Co., Maplewood, and GlaxoSmithKline, Middlesex,
England, have reached a cross-license agreement on medicinal
aerosols. The agreement resolves patent disputes in the United
States, Japan, Europe and Australia, and provides for royalty
payments by each company.
Cardiac Science Inc., Irvine, Calif., said its stockholders
approved the issuance of company shares to buy
Minnetonka-based Survivalink Corp., a maker of automatic
external defibrillators. Cardiac Science reduced the cash
portion of the purchase, but increased the value of the deal
from $71 million to $72 million.
Oxboro Medical Inc., Ham Lake, said it expects to record a
pretax gain of about $465,000, or 24 cents a share, for the
fourth quarter ending Sept. 30, because of the recent sale of its
holdings in Minntech Inc.
Fitch has assigned its AA+ rating to the Minneapolis Special
School District No. 1's $60.9 million refunding certificates of
participation (COPs), Series 2001B, based on the school
district's participation in the Minnesota School District Credit
Enhancement Program. The underlying rating, reflecting the
district's credit quality without program participation, is AA-.
CIMA Labs Inc., Eden Prairie, said its board of directors has
authorized an extension of the stock-repurchase program that
expired Friday. Under the extension, CIMA may repurchase up
to $20 million of its common stock. The company plans to
finance any purchases under this authorization with working
capital.
ESPN Inc., Bristol, Conn., and Next Generation Network
(NGN), Minneapolis, have reached an agreement whereby
ESPN will provide up-to-date sports scores and headlines to
NGN's network of more than 7,200 digital screens. NGN
screens are placed in high-traffic locations where consumers
are standing in line, such as 7-Eleven, McDonald's,
pharmacies, office buildings and transit stations. ESPN content
will air on NGN's screens in cities across the country, including
Chicago, Dallas, Los Angeles, New York City, and Washington
D.C.
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