ROCKWELL TO FIRE 1,400, DISCONTINUE PRODUCTS.Byline: Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Blecher Bloomberg Business News Rockwell International Rockwell International was the ultimate incarnation of a series of companies under the sphere of influence of Willard Rockwell, who had made his fortune after the invention and successful launch of a new bearing system for truck axles in 1919. Corp. said it will fire about 1,400 workers, about 2.5 percent of its work force, and quit making certain truck and transportation products. Company spokesman Terry Francisco said the 1,400 people, most outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , don't make the items the company is discontinuing. He wouldn't say what those products are. The workers are involved with production of some of the company's other automotive products, and are being dismissed to cut costs, he added. The company also said it will take a fourth-quarter charge of $74 million, or 34 cents a share, because of the moves. The charge will be offset by a gain of $76 million, or 35 cents a share, from tax gains and insurance claims. Rockwell is expected to release its quarterly earnings next month. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey of seven analysts by First Call, the company is expected to report earnings of 88 cents a share for the quarter. For 1995's fourth quarter, Rockwell reported earnings per share of 88 cents. In a statement, the company also said its shareholders will vote Dec. 4 on Seattle-based Boeing Co.'s proposal to acquire its aerospace and defense businesses, including Rocketdyne, for $3.2 billion. If that transaction is completed, the company that made America's space shuttles The term Space Shuttles refers to partly or fully reusable launch vehicles for regularly placing payloads into low earth orbit. See:
Military aircraft designed to drop bombs on surface targets. Aerial bombardment can be traced to the Italo-Turkish War (1911), in which an Italian pilot dropped grenades on two Turkish targets. will complete its evolution into an automotive, aviation, communications and computer systems company. Rockwell's stock rose -1/8 to 55-3/4. |
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