BRIEFCASE L.A. METALS FIRM BUYING COMPANIES.

Byline: - From staff and wire reports

Los Angeles-based Reliance Steel & Aluminum Co. announced Thursday that it is purchasing the business and net assets of Central Plains Steel Co., headquartered in Kansas City, Mo., and to purchase all of the stock of the privately held metals service center company Olympic Metals Inc. of Denver.

The transactions should be completed within 30 days.

Terms were not disclosed.

Current management will remain in place after the completion of the acquisitions.

Central Plains Steel is a privately held, full-line metals service center company with facilities in Kansas City and Wichita, Kan. The company's 2001 sales were about $39 million.

Revisions show stronger revival

WASHINGTON - The economy, knocked down by recession and terror attacks, snapped back at a stronger pace than previously believed in the final three months of 2001.

Gross domestic product - the broadest measure of the economy's health - grew at an annual rate of 1.7 percent in the fourth quarter of last year, its best performance in a year, the Commerce Department reported Thursday.

The government had initially estimated that the economy grew at a tiny 0.2 percent rate in the fourth quarter. A month ago, that was revised to a 1.4 percent rate.

Thursday's upward revision to the GDP, based on more complete data, largely reflected an improved trade picture, which was less of a drag on growth in the fourth quarter.

Federated to look at Fingerhut sale

MINNEAPOLIS - Federated Department Stores Inc. said Thursday that it will explore the sale of Fingerhut's assets immediately and lay off 3,300 workers by April 5.

Federated said that it had been more than a month since it entered into a nonbinding letter of intent for the sale of Fingerhut to an investor group led by turnaround specialist Peter Lytle and it was still uncertain whether the sale would go through.

Cincinnati-based Federated said it would continue to work with Lytle's Business Development Group Acquisitions Inc. of Wayzata, Minn., while it shopped Fingerhut's assets to other potential buyers.

If the purchase by BDGA is completed, Lytle said he believes BDGA would be able to rehire many of the workers.

Tire replacement program ending

WASHINGTON - Ford Motor Co. will stop giving free replacements for Firestone tires on Sunday, ending an enormously costly recall that damaged the reputations of two of the most venerable corporate names.

Ford says it has spent about $3 billion to replace 10.6 million Firestone tires, though demand has waned.

More than 250 people were killed and hundreds more injured in incidents involving Bridgestone/Firestone Inc. tires. In most cases, the tire lost its tread, causing a Ford Explorer to roll over.

Partners for 95 years, the companies had a public falling out during congressional hearings on the recall. The tire maker said the design of the Explorer was partly responsible for the rollovers. Ford officials denied that and insisted it was solely a ``tire problem.''