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Tuesday, Sep. 8, 1998
Business Briefs
Sock factory chooses Labor Day to close
From Staff Writer wire services
DANVILLE, Va. - Mary Conner says the sock factory where she has toiled for 14 years could have picked a better day to close than today - Labor Day, a holiday dedicated to the economic achievements of the American worker.
``It's sad, doing this now,'' Conner, 45, said as she walked out of the windowless red-brick building with her last paycheck.
Workers have been making socks at Durham Hosiery Co. in Danville for about 100 years, but a company that bought the plant a year ago announced in June it would shut down Sept. 7 and force its 350 employees to find other jobs.
Continental Express buys 25 more Brazilian jets
Continental Airlines Inc. said Monday that its Continental Express Inc. unit has ordered another 25 jets from Empresa Brasileira de Aeronautica SA, South America's largest planemaker, for $375 million, as the regional air carrier moves to an all-jet fleet.
Continental Express, which serves about 5 million customers a year, ordered 25 Embraer ERJ-145 50-seat regional jets, each with a list price of $15 million. In May, the carrier ordered 25 of Embraer's 37-seat jet, the ERJ-135.
Mexican leader calls for easing investment rules
A major opposition party has called for easing Mexico's tight limits on private and foreign investment in its oil and energy industries.
``We have to look for ways to make these state-run agencies become more efficient,'' said Carlos Medina Plascencia, congressional leader of the National Action Party. Government ownership of the oil industry and most other parts of the energy sector has been a nearly sacred principle of Mexican politics since 1938.
Textron Inc. will acquire British engineering firm
Textron Inc., moving to boost its fluid and power systems group, has agreed to acquire British engineering concern David Brown Group PLC for $326.5 million, plus assumed debt.
Textron, based in Providence, R.I., has interests in automotive, industrial and aircraft businesses. It makes Cessna airplanes, Bell helicopters, automotive dashboards and golf carts.
Japanese firm's purchase of Packard Bell approved
Europe's antitrust watchdog has cleared Japanese electronics giant NEC Corp.'s acquisition of a controlling interest in U.S. personal-computer maker Packard Bell NEC Inc.
The European Union Commission found that a significant number of competitors do business in Europe.
Dresser will develop South Africa gas field
Dresser Industries Inc. has been selected by South Africa's Mossgass to develop the EM gas field off the southern tip of Africa in a contract worth $300 million.
Mossgass, a state-owned gas producer, said the work will be undertaken by a team of contractors, led by Dresser-Kellogg Energy Service, Dresser's British unit.Post your comments about local news eventsFront Page || Main Index || News || Business || Texas || South Texas Outdoors || Birdwatching || Sports || Entertainment || Selena || Education || South Texas Attractions || World Wide Web