Saturn production to rise 17%General Motors Corp.'s Saturn...


June 11, 1993

Saturn production to rise 17%

General Motors Corp.'s Saturn division said yesterday that it's putting the pedal to the metal next week, boosting output of its popular import-fighting cars by almost 17 percent.

A Saturn spokesman said the company hired an additional 1,200 hourly workers to handle the increase, raising employment at Saturn's sole assembly plant in Spring Hill, Tenn., to about 7,000.

Crop Genetics to delay dividend

Crop Genetics International Corp., a biotechnology company in Columbia, said it would postpone dividend payments on its preferred stock as of Sept. 15 to conserve cash and give the company more flexibility in product opportunities.

Crop Genetics said it will pay the regular quarterly dividend of 23.75 cents per preferred share as planned on June 15 to shareholders of record June 1.

PepsiCo begins snack test in Russia

PepsiCo Inc. launched a test program yesterday to sell its snacks, beverages and fast food from outlets in the Moscow Metro, the Russian capital's subway system.

Conrail track work pays off

Consolidated Rail Corp. said its $4.3 million investment to raise the clearances along its tracks between Baltimore and Perryville was paying off at the expense of truckers. "Raising the roof" along the 40-mile stretch has allowed more than 11,000 new vehicles to shift from truck to rail during the first four months of the year, Conrail said.

Adams Express offers rights

Adams Express Co., a Baltimore-based closed-end investment company, has authorized the offering of nontransferable rights to shareholders for the purchase of additional shares of stock in the company. One right would be issued for each existing share of stock.

Five rights are needed to buy one share of new stock at the subscription price, which has not yet been determined.

Salomon agrees to pay settlement

Salomon Inc. said it agreed to pay $54.5 million to settle class-action lawsuits brought by its stock and bondholders over the firm's admission of Treasury auction rule violations in August 1991.

Salomon said it agreed to pay for the settlement out of a $100 million fund set up as part of a $290 million settlement with the government last May.


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