Environmental Air Control soldHoneywell Inc. and Donaldson...


December 30, 1992

Environmental Air Control sold

Honeywell Inc. and Donaldson Company Inc. have jointly acquired Maryland-based Environmental Air Control Inc., it was announced yesterday. Terms of the agreement were not disclosed.

Honeywell, a Minneapolis-based controls maker, purchased the Enviracaire unit in Hagerstown, which makes portable and ceiling-mounted air cleaners and employs 56 workers. The Enviracaire business will operate as Honeywell Environmental Air Control Inc. Minneapolis-based Donaldson, a maker of filtration products, purchased EACI's other two businesses: the Envirco Division in Albuquerque and ENV Services Inc., a unit in King of Prussia, Pa.

China leans on North Korea

China tightened the economic pressure on North Korea yesterday by announcing that all trade beginning in 1993 must be paid for in cash rather than through barter.

North Korea, which is already suffering a severe economic crisis, depends on neighboring China for oil and other supplies. It has no hard currency to pay its bills and is already in arrears on its $4 billion foreign debt. Unless it can find other energy sources, its industry may be devastated.

Judge rules against Sunkist

Sunkist Growers Inc. and other citrus farmers lost a bid yesterday to hold on to a Depression-era system of quotas on the sale of fresh California and Arizona navel oranges and lemons.

U.S. District Judge Gerhard Gesell denied the growers' request for a preliminary injunction to stop the Agriculture Department from lifting weekly quotas on the sales of West Coast citrus this harvest season. The judge had granted Sunkist and the other growers a temporary restraining order earlier this month, but denied the injunction yesterday and dropped his order.

PHP Healthcare buys Eastwest

Virginia-based PHP Healthcare Corp. acquired Eastwest Research Corp. of Bethesda for $500,000 in cash and notes. David E. Berman, founder and president of Eastwest Research, a four-person health care consulting firm, will remain as president of the company.

Oregon Steel-Nucor mill deal

Oregon Steel Mills Inc. and Nucor Corp. said yesterday that they plan to build and run a jointly owned steel mill in the western United States at a cost of $400 million to $500 million. The plant will be 60 percent owned by Nucor and 40 percent by Oregon Steel.


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