THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, September 10, 1996 TAG: 9609100276
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: 47 lines
nVIEW moves European subsidiary to UK
nVIEW Corp. has relocated its European subsidiary, nVIEW International BVBA, from Brussels, Belgium, to Crawley, West Sussex, England, near Gatwick International Airport. With the relocation, the subsidiary has been renamed nVIEW International Ltd., to reflect the change in jurisdiction. nVIEW Corp. designs, manufacturers and markets projection products. (Staff)
Kodak to sell copier operations to Danka
Eastman Kodak Co. agreed to sell its money-losing copier unit's sales and service operations to Danka Business Systems Plc for $684 million, ending a nine-month attempt to unload the whole business. Kodak will report a loss of $250 million on the transaction and take a charge when the purchase is complete, likely by year's end. While investors are happy that Kodak was able to sell part of the unit, the outcome was a disappointment for Chairman George Fisher, who wanted to keep the business intact and use it to round out Kodak's move into digital photography. Kodak will continue to make copiers for the British office-equipment company under the Kodak name. Danka will finance the purchase with a $1.2 billion, six-year line of credit, replacing the company's current $400 million line of credit. (Bloomberg Business News)
RailAmerica buys line from Burlington
RailAmerica Inc. said Monday it purchased the Oroville line in Washington state from Burlington Northern Santa Fe Corp. Terms were not disclosed. The Oroville line runs for 131 miles in northern Washington. Burlington Northern Santa Fe said the sale is part of its program to re-evaluate assets after last year's merger between Burlington Northern Inc. and Santa Fe Pacific Corp. Burlington Northern is based in Fort Worth, Texas. Rail-America is based in Boca Raton, Fla. (Dow Jones News)
Continental General settles tire-patent suit
Goodyear Tire & Rubber Co. said Monday that Continental General Tire and its parent company, Continental AG, settled a 1993 patent-infringement suit brought by Goodyear. Goodyear said Continental General acknowledged that its Hydro 2000 tire infringed on three patents for Goodyear's Aquatred tire, which features a wide groove running down the middle of the tread surface. Under the settlement, Charlotte, N.C.-based Continental General agreed not to sue Goodyear. Continental General also agreed to destroy all Hydro 2000 tire molds and to pay an undisclosed amount of damages. Continental General had no immediate comment. (Dow Jones News) by CNB