THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, March 27, 1996 TAG: 9603270532
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 61 lines
The Norfolk office of United Defense L.P. will coordinate field service for shipboard weapons systems under a $14 million, 5-year contract awarded recently by the Navy's Fleet and Industrial Supply Center. Washington-based United Defense manufactured the deck-mounted guns and missile-launchers it will help maintain. Its local office employs 14 engineers. Work will be performed in Norfolk, Mayport, Fla., Pascagoula, Miss., and overseas. United Defense is a joint venture of Chicago-based FMC Corp.'s Armament Systems Division and Camp Hill, Pa.-based Harsco Corp. (Staff)
Electronic Systems shows products at the Marriott
Electronic Systems, Hampton Roads' largest locally based office-machines dealer, said it will launch in April a package of services to help businesses tap into the global Internet computer network. The Virginia Beach-based company said in its latest bimonthly newsletter that it will offer Internet access service, help design ``homepages'' for businesses on the Internet's World Wide Web, and sell and customize computer hardware and software needed for doing business on the Internet. The company plans a show Friday from 8 a.m. to 1 p.m. at the Norfolk Waterside Marriott to highlight its plans. (Staff) Heilig-Meyers reports earnings down for year
Heilig-Meyers Company, the Richmond-based home furnishings retailer, reported results for both the fiscal year and the fourth quarter ended Feb. 29, 1996. Total revenues for the year increased 18 percent to $1.4 billion from $1.2 billion last year. Earnings for the fiscal year were $41.5 million compared with $66.8 million in the prior year. Revenues for the quarter increased to $340.0 million from $299.1 million in the prior year. Net earnings for the quarter were $3 million or 6 cents per share compared with net earnings of $14.9 million or 30 cents per share last year. (Staff)
Feds want those eligible for pension payments
The government began attempts Tuesday to identify an estimated 40,000 workers believed eligible to share in about $100 million from pension plans terminated from 1976 to 1981. Under the settlement, workers with at least 10 years of service would receive lump-sum payments equal to about 80 percent of what they were due when their funds collapsed. Smaller amounts would go to employees with five to 10 years service. The Pension Benefit Guaranty Corp. said it was mailing a claims form and other material to about 135,000 people known to have participated in the plans to determine those eligible to share in the settlement. The mailing also will include information about a June 3, 1996, court hearing at which a final settlement will be sought. The PBGC said people also can obtain information about the settlement by calling (800) 316-8857. (AP) by CNB