ICC Tech quits air-conditioning

Article Abstract:

ICC Technologies Inc. of Harboro, PA, revealed that it is selling its air-conditioning business to the unit's management team and will concentrate on its Internet services subsidiary, Rare Medium Inc. instead. ICC did not reveal terms of the deal but it said that assets and a 50% stake in the air-conditioning unit will be divested to the unit's management team, which is led by Bill Wilson, former president and chief executive of the firm. As a result of the sale, ICC will become as Rare Medium Holding Inc. and will be traded in the Nasdaq market under the symbol RRRR. ICC was formed in 1989 originally as a firm that manufactures generators and airconditioners.

Comment:

Is selling its air-conditioning bsn to unit's mgmt team & will concentrate on its Internet svcs subsidiary, Rare Medium Inc

Electric Power Generation, Thermal Electric Power, Thermal power plants, ICC Technologies Inc.

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High marketing costs blamed in Maggio sale

Article Abstract:

M. Maggio Company Inc., a Philadelphia, PA-based cheesemaker, has been sold by its owners, the Maggio family, to Binghamton, NY-based Crowley Foods Inc. because of the high cost of marketing. The New York-based company will market the Maggio cheese via its Philadelphia-based company Ready Food Products. Maggio cheese brands will still be made under contract by a New Jersey-based company. Peter V. Maggio, a company director, said that putting a new product into a grocery store requires between $7,500 and $15,000, with costs rising as supermarkets merge.

Comment:

Has acquired Philadelphia, PA-based cheesemaker M. Maggio Company Inc after owners sold it due to high cost of marketing

Dairy Products, Dairy Product Manufacturing, New York, Cheese, Cheese Manufacturing, M. Maggio Company Inc., Crowley Foods Inc.

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Chemical companies' merger is approved

Article Abstract:

The $4.9 billion merger agreement between Morton International Inc. and Rohm and Haas Co., which has been approved by the shareholders of both companies, will result in a Philadelphia, Penn-based company with $6.5 billion in annual revenues. Morton produces salt and other specialty chemicals, such as coatings and adhesives. Rohm and Haas manufacturers specialty chemicals for household soaps, computer circuits, and paints. Rohm and Haas will become the second leading specialty chemical maker in terms of annual revenue with the acquisition.

United States, Chemicals & Allied Products, Chemical Manufacturing, Basic Chemical Manufacturing, Specialty Chemicals, Chemicals, Rohm and Haas Co., Morton International Inc.

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