THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, December 7, 1994 TAG: 9412070437
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Short : 46 lines
TCI nears approval for TeleCable buyout: Tele-Communications Inc.'s planned $1.5 billion stock-swap buyout of Norfolk-based TeleCable Corp. is close to winning approval from the Federal Trade Commission, The Wall Street Journal reported Tuesday. Senior executives of the two cable-TV companies declined to comment on the report. The Journal said that to win federal regulators' approval, TCI agreed to divest of TeleCable properties in the Columbus, Ga., area, where both operate. Separately, TCI said Tuesday that it plans to buy 80 percent of Cablevision S.A. de Argentina, one of that country's largest cable operators, and that it formed a joint venture with Sumitomo Corp. to own and manage cable systems in Japan. (Staff)
Mexico trade trip nets deal with Hampton company: A Hampton company signed a $25.5 million deal to distribute and sell its home-security equipment in Mexico over the next five years. Sentinel Systems officials initiated the deal while joining Gov. George F. Allen on a trade mission to Mexico and Canada in July. ``As a result of our company's participation in Gov. Allen's trade mission, we were able to make the initial contacts with four companies in Mexico, which have since allowed us to sign this $25.5 million deal,'' said Frank Young, Sentinel's director of international trade. He and other company officials met with Allen for a signing ceremony at the Capitol. Allen said Virginia companies have gotten more than $30 million in contracts from the trade mission so far. (Associated Press)
Hampton company gets Boeing contract: Boeing Co. has awarded three contracts for engine components to Howmet Corp., a Hampton-based maker of aircraft engine components. Boeing announced Monday that Howmet will manufacture titanium castings for the body of the F-22 fighter jet, said Jack Bodner, operations manager of Howmet's aerospace division. Boeing is manufacturing the fighter plane, which is still in its development stages, for the U.S. military. ``We see this as a whole new marketing endeavor . . . as a growth sector for our business,'' Bodner said. Bodner would not reveal the amount of the Boeing contracts. But he did say that Howmet, which employs 800 people, would not hire new employees. Boeing had also ordered castings from Howmet to build frames for its commercial 777 jets, Bodner said. (AP) by CNB