Rocky mountain power credit union5/8/2023 ![]() ![]() The announcement added that the Americancompany would hold 55 percent of the joint company, and the Belgium company the balance. The plans call for expenditures of up to $35 million for a facility with a projected initial annual output of 15,000 tons beginning in 1979. The Continental Materials Corporation of Chicago said it planned to form a joint venture with the Belgian mining company, Union Minière, for development of Continental's copper property, known as Oracle Ridge, near Tucson. It added that these planes and the six just ordered would replace older aircraft. American said it also expected to take delivery of the last five of 21 previously ordered 727's in the first half of 1977. The aircraft, valued at $67 million, are scheduled for delivery in mid‐1977. said it had ordered six 727‐223 jet airliners from the Boeing Company of Seattle. Texfi is a major producer of textured polyester doubleknit and woven fabrics.Īmerican Airlines Inc. The plant, with an annual capacity of 20 million pounds, employs about 100 people. C., indefinitely because of the depressed polyester yarn market. said it was closing down its polyester production facility in Asheboro, N. Production is expected to begin in August 1978. The mill, which will have an annual production capacity of 3.5 million tons, will be built at Siderurgica's main Volta Redonda works. Mitsubishi's Brazilian subsidiary, CBC Industrias Pesedas S.A., and Ishikawajima do Brasil Estaleiros S.A., a joint venture of Ishikawajima‐Harima in Brazil. The group is headed by the Ishikawajima‐Harima Heavy Industries Company and includes Mitsubishi Heavy Industries Ltd. It said a contract would be signed shortly. Heavy losses in 19 reduced Geico's surplus from $103 million to $33.1 million, as of May 30.Ī group of Japanese companies in heavy industries announced receipt of a letter of intent from Companhia Siderurgica National, the Brazilian Government steel company, for construction of a hot strip steel mill valued at about $65 million. Lemmon, whose association helped in organizing thg agreement, expressed confidence that the reinsurance move and the new stock issue authorized by Geico shareholders would solve the company's problems. The agreement, however, is to become effective when Geico succeeds, in selling at least $50 million of additional shares‐before Dec. Under the agreement, announced Friday by Maximilian Wallach, the District of Columbia Insurance Superintendent, 27 casualty insurance companies will take over 25 percent of Geico's insurance liabilities. These are expected to be producing five million tons of coal annually by 1980.Ī reinsurance agreement that is part of a plan to keep the ailing Government Employees Insurance Company solvent was praised as a constructive measure by Vestal Lemmon, the president of the National Association of Independent Insurers. The Denver company also announced plans for another joint venture with Kiewit for development of Rocky Mountain's Twin Creek and South Aystack coal properties near Kemmerer in southwest Wyoming. Rocky Mountain Energy, a subsidiary of the Union Pacific Corporation, negotiated the agreement on behalf of the Black Butte Coal Company, which is jointly operated by subsidiaries of Rocky Mountain Energy and Peter Kiewit Sons Inc. The purchasing company was not identified. The Rocky Mountain Energy Company of Denver announced yesterday that it had signed a $1 billion, 20‐year coal sales contract with “a major Midwest utility.” The agreement, which includes appropriate price escalation clauses, provides for delivery of three million tons of coal annually, beginning in 1979, from a mine near Rock Springs, Wyo. ![]()
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