Sep. 30–APPLIED FILMS SELLS COATED-GLASS BUSINESS: Longmont-based Applied Films Corp. said Monday it has completed the sale of its coated-glass business in Hong Kong to Nippon Sheet Glass for $1.2million plus $130,000 in inventory.
NSG is a major Japanese glass manufacturer and Applied Films’ joint venture partner in China. Applied Films expects an after-tax gain of about $700,000, to be accounted for as income from discontinued operations in the first quarter of fiscal 2004.
VISTA ACQUIRES 100 PERCENT INTEREST IN MEXICAN GOLD PROJECT: Jefferson County-based Vista Gold Corp. announced Monday it has acquired a 100 percent interest in the Guadalupe De Los Reyes gold project in the Mexican state of Sinaloa. Vista also got a data package associated with the project and general area for $1.4 million.
80 PEOPLE LOSE JOBS AS DELTA CABIN FACTORY CLOSES: An Ochlocknee, Ga., firm has closed a 2-year-old cabin factory in Delta, leaving 80 people jobless. Stewart Lodges closed the facility without fulfilling a single commitment it made in exchange for economic development incentives worth hundreds of thousands of dollars, development officials said. Stewart made cabins for the camping industry, including KOA campgrounds.
The structures were mounted on a trailer frame, allowing them to be moved around. Delta Area Development Inc. and other economic-development groups that aided Stewart likely will pursue legal action, said Deana Sheriff, executive director of the group.
JANUS OUTFLOWS EXCEED CONTRIBUTIONS IN AUGUST: Investors in Janus mutual funds withdrew $756 million more than they contributed during August, Boston-based Financial Research Corp. said last week. The August outflows, which continued an unbroken streak stretching back to May 2001, preceded revelations that New York Attorney General Eliot Spitzer was investigating Janus for striking deals with a hedge fund that hurt its long-term investors.
Nationally, the Investment Company Institute reported Monday that stock mutual funds took in $22.9 billion in August, with $18.1 billion flowing into domestic equity funds and $4.8 billion into international equity funds.
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