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Friday, Sep. 18, 1998
Business Briefs
Victoria bank reorganized as holding company FVNB
From staff and wire reports
First Victoria National Bank said Thursday that it has reorganized into a single-bank holding company, FVNB Corp.
As part of the transaction, each outstanding share of First Victoria common stock, with a par value of $2.50 per share, was converted into one share of FVNB Corp. common stock, with a par value of 1 cent.
First Victoria has about $520 million in total assets with branches in Victoria, Port Lavaca and Taft. Its stock is traded on the Nasdaq exchange under the symbol ``FVNB.''
Glaxo Wellcome to open big drug plant in Brazil
RIO DE JANEIRO - Glaxo Wellcome, the world's second-largest drug maker, will open a $200 million Brazilian plant next week, a move aimed at more than doubling capacity in its 10th largest market and concentrating Brazilian operations in one plant.
Glaxo Wellcome will open the plant in Rio de Janeiro's suburban Jacarepagua district on Tuesday, the company said. The plant will boost the company's output to 100 million units a year from 40 million today and make several of the company's most popular drugs, including ulcer drug Zantac, asthma drug Ventolin and Aids drugs AZT and Ebivir.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