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

DATE: SATURDAY, March 4, 1995                   TAG: 9503060047
SECTION: BUSINESS                    PAGE: A6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

American Safety Razor Co., Verona maker of razors and other personal care products, said Friday it has completed acquisition of Sterile Products Corp. by acquisition of stock valued at $10.3 million.

LADD Furniture Inc., High Point, N.C., parent of American of Martinsville, on Friday announced a 1-for-3 reverse split of the company's common stock, which will be submitted to shareholders at the company's annual meeting on May 12. If approved, the reverse split would result in a per-share stock price, dividend and earnings each three times higher than before the split, with a corresponding reduction in the number of shares outstanding. LADD now has 23.1 million common shares outstanding.

Vishay Intertechnology Inc., Malvern, Pa., maker of passive electronic components for industry and parent of Vitramon Inc. of Roanoke, on Friday declared a 5 percent stock dividend on both its common stock and Class B convertible common stock, payable March 31 to shareholders on March 17. The company's directors also recommended that the number of authorized shares be increased to provide the flexibility for a stock split. The directors also approved an executive stock option plan for six key executives.

Mazda said Friday it will recall 5,760 of its 1995-model Protege sedans equipped with the 1.5-liter engine for inspection and possible replacement of engine valve springs. Approximately 700 of the affected vehicles have been sold. Mazda said dealers will replace the springs at no charge. For more information, call (800) 222-5500.

Bankruptcies

Four bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. All of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.

Doris Phillips Coffey of Christiansburg filed for liquidation with assets of $29,400 and liabilities of $447,606. She operated Phillips Day Care, trading as Tiny Tots Child Care Center.

Timothy Porter and Luana Porter of Coeburn filed for a wage earner plan for repayment of creditors. Timothy Porter operates as Tim Porter Trucking. They reported assets of $78,050 and liabilities of $86,190.

Garry R. Ely of Rose Hill, trading as Cumberland Mountain Antique Center, asked for liquidation. He had assets of $30,055 and liabilities of $91,292.

Gary L. Brown of Roanoke filed for a wage earner plan for repayment of creditors. He operates a janitorial service. Brown listed assets of $11,520 and liabilities of $23,836.

- Staff report

Earnings

Kelly Services Inc., Troy, Mich., staffing services company operating offices in Blacksburg and Roanoke, reported net earnings of $61.1 million, or $1.61 per share, on sales of $2.36 billion for its fiscal year ended Jan. 1, compared with year-earlier $44.6 million, or $1.18 per share, on sales of $1.95 billion. For the fourth quarter, net earnings were $18.1 million, or 48 cents per share, on sales of $631.4 million, compared with year-earlier $13.6 million, or 36 cents per share, on sales of $504.3 million.

Norrell Corp., Atlanta temporary services company with franchised offices in Blacksburg and Salem, reported net income of $3.6 million, or 32 cents per share, on revenues of $186 million in its first quarter ended Jan. 29, compared with year-earlier $5.6 million, or 46 cents per share, on revenue of $154 million.