Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, May 27, 1993                   TAG: 9305270127
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO 
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: BLACKSBURG                                LENGTH: Medium

HURT BY DEFENSE CUTBACKS? CENTRAL AMERICA'S WAITING

"Along with political freedoms in Central America have come market reforms," said Cathleen Magennis, keynote speaker at a seminar at Virginia Tech on business opportunities in Central America.

The seminar, sponsored by Tech and the Department of Economic Development, was a follow-up to Gov. Douglas Wilder's participation in the Southern States and Central American Summit in Charlottesville last summer.

Magennis cited Hubbell Lighting Division Inc. in Christiansburg as a Virginia company that has been successful trading in Central America.

Hubbell had more than $800,000 in sales there last year, Magennis said. Among the countries it exported to were Guatemala, Costa Rica and Honduras.

Not only did Hubbell export its products, but it shipped them out of the Hampton Roads' port and further stimulated Virginia's economy, Magennis said.

Tom Conlin, a spokesman at Hubbell's headquarters in Connecticut, said Mexico and Central America are attractive markets because their electrical standards are similar to those in the United States.

"As we learn the ropes, we will continue to expand," he said. The company set up a marketing staff in Mexico this year.

Virginia exports to Central America in 1992 totaled just over $83 million, up 14 percent from the previous year.

"We are moving in the right was the largest market for Virginia products in Central America, accounting for 40 percent of the sales.

The state's leading exports to Central America in 1992 were tobacco, with $19.6 million in sales, and chemicals, with $10.5 million in sales.

Magennis said the state is encouraging companies to enter the export market as a way to offset the negative economic impact of cuts in the defense budget.

She said Latin America countries are removing tariff laws and encouraging free trade.

Magennis and the president of the Ivanhoe Civic League hit it off Wednesday afternoon.

The highlight came when league President Maxine Waller teasingly brought out the first volume of a history of Ivanhoe.

Waller explained how the book had won a literary prize from Berea College, how the late author Alex Haley had talked favorably about it, and how she was seeking $10,000 for another print run.

"There is no more Volume 1 except the one in my hand," she said.

"How much is it going to cost me?" asked Magennis.

"Ten thousand dollars!" Waller responded instantly.

Not really. Waller gave Magennis the book, along with Volume 2, which is still generally available.

"So you've got a $10,000 book there," she said.

"I think it's worth more," said Magennis. She said it would stay in her office in Richmond.