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

DATE: FRIDAY, September 16, 1994                   TAG: 9409160056
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Eagle-Picher Industries Inc., Cincinnati parent of the Wolverine gaskets plant in Blacksburg, reported net income of $11.7 million, or $1.06 a share, for its third quarter ended Aug. 31. That compares with $8 million, or 73 cents a share, a year earlier. Net sales were $186.2 million, up from $162.2 million. For the first nine months, net income was $37.4 million, or $3.39 per share, up from $13.3 million, or $1.22 per share. Sales were $560.9 million, compared with $485.6 million.

Best Products Co. Inc., Richmond-based retailer, reported a net loss of $1.6 million, equal to 5 cents per share, for its second quarter ended July 30. That compares with year-earlier net loss of $15.6 million. The previous per-share loss was not reported because the stock of Best's predecessor company, which was not publicly traded, was canceled under the company's plan of reorganization in bankruptcy. Net sales for the quarter were $312.2 million, up from year-earlier $301.7 million.

For its first half, Best reported a net loss of $6.5 million, or 20 cents a share, compared with a net loss of $36.9 million. Sales were $586 million, compared with $552.5 million.

- Staff report

Kroger to redeem debenture issue

The Kroger Co., Cincinnati-based supermarket chain, said Thursday it will redeem the entire outstanding balance, valued at $165 million, of its 81/4 percent convertible junior subordinated debentures due in 2011.

The debentures will be redeemed before the end of October at 105.775 percent of their face amount plus interest. Holders have the option of converting the debentures into shares of the company's common stock.

- Staff report

Briefly ...

The New Century Council, an organization concerned with economic development and related issues for the New River and Roanoke valleys, will hold a second meeting of its 900 volunteers Wednesday. The session, which is open to the public, will begin at 7 p.m. at Salem High School's auditorium. James Crupi, a futurist and president of Strategic Leadership Solutions Inc. of Dallas, will speak. For more information, call the council's office in Roanoke, 982-3720.

Environmental Resources Management Inc. has opened its fourth Virginia office, at 3140 Chaparral Drive in Roanoke County. Bren Huggins is manager of the new office. The Richmond company, which also operates branches in Newport News and McLean, is a division of ERM Group, an Exton, Pa.-based engineering and environmental services consultant.