Company News
Published Sep 6 2001
August Technology Corp., Edina, said third-quarter
revenue is anticipated to be 55 to 65 percent below the second
quarter as a result of the continuing downturn in the
microelectronics industries.
St. Jude Medical Inc., Little Canada, has signed an exclusive
U.S. marketing agreement to promote an anticoagulation
blood monitoring system developed by Johnson & Johnson's
LifeScan Inc. unit. Terms were not disclosed. LifeScan's
Harmony INR Monitoring System measures a patient's blood
coagulation time; it is expected to be available next year.
Community First Bankshares Inc., Fargo, N.D., and Wells
Fargo Inc., San Francisco, have formed a joint venture to
provide mortgage origination, documentation, processing and
support for all of Community First's residential mortgage
business. The company said it expects the venture company,
Community First Mortgage, to be operational in the third
quarter.
Medtronic Inc., Fridley, said it intends to sell $1.5 billion of
its contingent convertible debentures due 2021 in a private
placement. Proceeds will be used to repay short-term debt
related to Medtronic's acquisition of MiniMed Inc. and
Medical Research Group Inc.
ZoneTrader Inc., Golden Valley, said Cummins Inc. will
adopt ZoneTrader's Surplus Asset Management program, a
customized version of ZoneTrader's Web-enabled
redeployment tool AssetZone, and complete disposition
services.
Medwave Inc., St. Paul, said the University of Chicago
Medical Center will perform a clinical study using the Vasotrac
APM205A continual noninvasive blood pressure monitor on
patients undergoing atrial and vascular arrhythmia ablation
procedures.
Buca Inc., Minneapolis, said its Buca di Beppo restaurants
were named 'Best Italian' in 22 markets and runner-up in four
additional markets across the country in the annual 'Best of
CitySearch' online poll. Best of CitySearch is an annual guide
to the 'best' in 47 cities across the country. Buca di Beppo
currently operates 66 restaurants in 32 markets.
Optical Solutions Inc., Plymouth, has signed a contract with
Roseville Telephone Co., a local exchange carrier with 133,000
access lines in the Sacramento, Calif., area.
Choicetel Communications Inc., Plymouth, said it has been
notified by Nasdaq that the company's common stock has
failed to maintain a minimum bid price of $1 during the past
30 trading days as required by the Nasdaq SmallCap Market.
The company has 90 days, or until Nov. 28, to regain
compliance or its stock will be delisted.
The Sportsman's Guide Inc., South St. Paul, said it is
comfortable with newly issued sales and earnings-per-share
estimates for 2002 of $172 million and 35 cents per share,
respectively.
Marshall Miller & Schroeder Inc., a newly formed
Minneapolis-based financial services company, has completed
the acquisition of certain assets of Miller & Schroeder Inc.
Quantech, Eagan, has filed a 510k application with the U.S.
Food and Drug Administration for clearance to market the
FasTraQ System, a diagnostic testing analyzer, for use in
hospital emergency departments.
Alliant Techsystems, Hopkins, said it has been selected by
Alenia DIFESA, Breda Meccanica Bresciana, Brescia, Italy, to
supply the Common Munitions BIT/Reprogramming
Equipment system for use by the Italian Air Force. Deliveries
under the $1 million contract will begin in May 2002 and
continue through March 2003.
Alexander's Moving & Storage, Bloomington, has acquired
Office Concepts, a regional provider of panel installation and
refurbishment services.
EcoWater Systems, St. Paul, has named Sable Advertising
Systems, Bloomington, to handle local market advertising to
support its nationwide dealer network.
Philips International Realty Corp., a real estate investment
trust based in New York City, said it has completed the sale of
its North Star Shopping Center in Alexandria, Minn., for
about $4.5 million in cash. The buyer was not disclosed.
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