Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, November 3, 1994 TAG: 9411030083
SECTION: BUSINESS PAGE: B-10 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Wholesalers selling computers, computer equipment and software had the greatest increase in dollar value of sales among all Virginia wholesalers from 1987 to 1992, according to the U.S. Bureau of the Census.
A study released Wednesday said wholesale sales of computer equipment rose $1.1 billion during the five years. Computers also led the 1992 retail census, which the Census Bureau reported two weeks ago.
Books, periodicals and newspaper wholesalers had the greatest percent increase in wholesale sales, up 465 percent.
Overall, Virginia's 9,290 wholesalers had sales totaling $51.5 billion in 1992. Wholesale sales were up 15 percent from 1987, compared with an increase of 28 percent nationwide.
- Staff report
First Union makes debt offering
First Union Corp., Charlotte, N.C., parent of First Union National Bank of Virginia in Roanoke, on Wednesday announced a public offering of $150 million in 10-year subordinated notes with an 8.77 percent coupon at a price of $99.616. The yield on the debt is 8.83 percent.
First Union said it will use the net proceeds from the sale for general corporate purposes. The underwriters are Donaldson, Lufkin & Jenrette Securities Corp. and Chase Securities, Inc.
- Staff report
Briefly ...
Kellwood Co., St. Louis parent of Halmode Apparel Co. of Roanoke, said Wednesday it will acquire David Dart Inc. and Force One Inc., a Los Angeles maker and retailer of sportswear. Terms of the deal were not disclosed.
Federal-Mogul Corp., Southfield, Mich. operator of an engine-bearings plant in Blacksburg, said Wednesday it plans to purchase up to 1 million shares of its common stock during the next 24 months as market conditions warrant. There are 35.6 million common shares outstanding.
The company expects to reissue the shares over time as employee stock options are exercised and for other compensation programs related to Federal-Mogul's stock.
Eagle-Picher Industries, Cincinnati parent of the Wolverine gaskets plant in Blacksburg, said Wednesday its directors elected Andries Ruijssenaars president and chief operating officer, effective Dec. 1. He has been senior vice president, having joined the company in 1980 to establish its automotive manufacturing and marketing units in Europe.
Dominion Resources Inc., Richmond parent of Virginia Power, said Tuesday it plans to repurchase up to 5 million shares of its outstanding common stock. The company, which has more than 170 million shares outstanding, will make selected purchases on a periodic basis rather than on a regular schedule.
by CNB