MGM Grand Air out of businessTiny but posh MGM Grand Air...

BUSINESS DIGEST

January 04, 1995

MGM Grand Air out of business

Tiny but posh MGM Grand Air -- which catered to the entertainment elite with gourmet meals and private rooms -- has gone out of business after billionaire owner Kirk Kerkorian sold its six jets to a Midwestern air-cargo and charter operator for an undisclosed amount.

The exclusive airline, whose Los Angeles-to-New York flight cost $1,400 and seated only 34 passengers, was renowned for shuttling movie stars, rock singers and Hollywood executives.

But too few of the wealthy boarded the airline to make it profitable. So Mr. Kerkorian sold the carrier's three Boeing 727 jetliners to American International Airways Inc. of Ypsilanti, Mich., the companies announced yesterday.

Manufacturing slowed last month

The manufacturing sector continued to grow in December, but at a slower rate than in November, the National Association of Purchasing Management said yesterday.

The NAPM, which polls purchasing managers at companies in 20 manufacturing industries, said its December business activity index slipped to 57.8 from 61.2 in November. Any reading over 50 represents an expanding industrial sector, the group says.

BioWhittaker wins patent suit

BioWhittaker Inc. will collect at least $5.2 million from a settlement in a patent-infringement suit against Swiss medical house Pharmacia AB, the Walkersville-based biomedical company said yesterday.

Pharmacia and several affiliated companies will pay BioWhittaker $3.5 million for past patent infringements, pay 3 percent royalties until the patents expire in 2006, make a $500,000 advance royalty payment for 1995 and minimum royalty payments of $300,000 in each year from 1996 through 1999. In exchange, they will receive licenses to use the patents in the United States, Canada and Australia.

Republic buys Armco plant

Republic Engineered Steels Inc., a Massillon, Ohio-based stainless steel company, yesterday completed the purchase of the Armco Inc. plant on East Biddle Street. Terms were not disclosed.

Republic, which announced the deal in August, will continue to use the plant's 50-person work force to make stainless steel bars, the company said.

Group 1 buys British supplier

Lanham-based Group 1 Software Inc. announced yesterday that it has acquired Archetype Systems Ltd., a British supplier of products and services to support personalized mass-mailing operations. The terms of the deal, which fulfills the terms of a previously announced letter of agreement, were not announced.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.