BUSINESS NOTES COCA-COLA, P&G TO FORM COMPANY.ATLANTA - Coca-Cola is expected to announce today a major deal with Procter & Gamble to form a new company uniting Coke's Minute Maid Minute Maid is a product line of beverages, usually associated with orange juice, but now extends to soft drinks of many kinds, including Hi-C. Minute Maid was the first company to market orange juice concentrate, allowing it to be distributed nationwide and served juices with P&G's Sunny Delight Sunny Delight may refer to the following:
The companies are expected to have a 50-50 stake in the new venture. Analysts estimate each company would be contributing businesses that generate about $250 million in operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . In the venture, Coke would be getting into a new business - salty snacks - which has fueled much of rival PepsiCo's growth. The Frito-Lay snacks operation represents about two-thirds of PepsiCo's sales. Over the last few years, PepsiCo has tried to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. jointly marketing salty snacks and beverages to retailers and consumers. With a major stake in Pringles potato chips, Coke may be able to better compete in that arena, although Frito-Lay would still be the dominant player. The Coke-P&G move also would create new opportunities as both companies try to leverage each other's beverage strengths. - Cox News Service Technicolor film lab set for Canada CAMARILLO - Technicolor said Tuesday that it will spend $29 million to build and operate a motion picture film laboratory in Mirabel, Quebec, a suburb of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. . The lab, which the company said would be the largest and most advanced in the world, will open within a year. It will employ 275 and reflect the company's commitment to building a bigger presence in Canada, mostly in the Montreal area. Technicolor was acquired in December by Thomson Multimedia of France from Carlton Communications of England. - Daily News Vertel to operate without chairman WOODLAND HILLS - Vertel Corp., a provider of mediation software Software that gathers and consolidates users' transmission usage from the network. It converts that data into a billing format for accounting and creates usage and marketing reports. for telecommunications networks, announced Tuesday that Bruce W. Brown has stepped down as chairman of the board of directors and as a director of the company. The company announced that it will be returning to its former governance structure with no chairman of the board. - City News Service Vans, NBC Sports NBC Sports is a division of NBC, responsible for the televising of many sports events on the network. The NBC Sports broadcast lineup includes: The Olympic Games (through 2012), the NFL, the NHL, Notre Dame Football, the PGA Tour, the USGA Championships, Wimbledon, the French ink program deal Santa Fe Springs-based Vans Inc. on Tuesday announced a three-year programming deal with NBC Sports to broadcast the Vans Triple Crown Series. The series consists of three top championship events in each of the following sports: skateboarding, wake-boarding, surfing, snowboarding, BMX BMX abbr. bicycle motocross BMX Noun 1. bicycle motocross: stunt riding over an obstacle course on a bicycle 2. , freestyle motocross and supercross. Terms were not disclosed. NBC Sports will air 10 hours of VTCS VTCS Variable Thumble Control System programming throughout the year, beginning in mid-May. - City News Service Firestone recalls tires due to flaw NASHVILLE, Tenn. - Firestone announced on Tuesday a voluntary safety recall of approximately 98,500 tires after an analysis showed a design flaw has caused cracks in certain tires. Most of the recalled P205/55R16 Firehawk GTA-02 tires are fitted on the 2000 and 2001 models of the Nissan Altima SE. Firestone said it was not aware of any crashes, injuries or lawsuits related to the tires. - Associated Press Bausch & Lomb to offer rebates ROCHESTER, N.Y. - Under a $17.5 million deal announced Tuesday, Bausch & Lomb will pay rebates and offer discounts to settle charges that it conspired to force customers to buy its replacement contact lenses through optometrists. Customers who purchased replacement contact lenses in the last 13 years will be eligible for rebates and discounts of up to $120, state officials said. The agreement resolves antitrust claims filed in 1994 against the lensmaker by New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and 31 other states and a consumer class. Bausch & Lomb admitted no wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do and said the charges were
unfounded. The company said it decided to settle to end a long and
costly legal battle.
- Associated Press |
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