Bell Atlantic to sell computer service unit to Decision...

BUSINESS DIGEST

September 21, 1995

Bell Atlantic to sell computer service unit to Decision Servcom

Bell Atlantic Corp. will sell its Business Systems Services computer maintenance unit to Decision Servcom Inc. for an undisclosed sum, the companies said yesterday.

The transaction, expected to be completed next month, will make closely held Decision Servcom a company with more than $700 million in revenue and more than 6,000 employees. Bell Atlantic has 4,300 employees worldwide. It wouldn't disclose revenue figures for its computer-service unit.

The Philadelphia-based regional Bell telephone company and its competitors are selling units to concentrate on their main businesses. The sales are meant to lower costs and focus their strategy in preparation for competition in the $90 billion U.S. local phone market from long-distance and cable television companies.

Texas Instruments division gains 'best practices' award

The Texas Instruments Defense Systems and Electronics Business was named the first recipient of the Best Manufacturing Practices Center of Excellence award, which recognizes outstanding contributions in improving American competitiveness.

The award was presented yesterday to DSEB in College Park in recognition for its efforts in reducing overall defense costs, exceeding strict manufacturing specifications, continuously improving quality efforts, and sharing its own best practices with industry.

Texas Instruments was selected from a group of 80 companies which have either participated in Best Manufacturing Practices surveys or supported BMP, a program of the Office of Naval Research, since 1985. The company was selected by a four-member panel of BMP's associate directors.

No hurricane loss reported at IGC's Puerto Rico units

Interstate General Company L.P., of St. Charles in Charles County, said yesterday that none of its Puerto Rican assets sustained any damage from Hurricane Marilyn.

IGC is a diversified real estate organization that specializes in community development, homebuilding, investment properties and asset management. The company's assets in Puerto Rico include approximately 50 percent interest in 18 apartment rental properties containing 3,963 apartments. IGC also is developing Parque Escorial, a 432-acre planned community in San Juan.

A publicly traded partnership, the company's units are traded on the American and Pacific stock exchanges under the symbol IGC.

UUNET to offer Baltimore, other cities fast Internet use

Fairfax, Va.,-based UUNET Technologies, an Internet access provider for businesses, says it will begin offering a low-cost, high-speed service to Baltimore area businesses as part of a strategy to offer the service in about seven major cities.

The 9-year-old company, which went public in May at $21.75 a share, says it will offer Baltimore businesses local connection options ranging from a moderate speed 56 Kbps line to a high speed 1.5 Mbps, T-1 line. Costs will range from $100 monthly for moderate speed service to $400 monthly for the high speed service.

Higher speed lines allow users to move information more quickly and reliably.

Since the new service was announced Tuesday, the company's stock price has risen to $46.75, up 75 cents. The company has yet to earn a profit. It reported a second quarter loss of $556,000.

Merger talks begun by Seagate, Conner, makers of disk drives

Disk-drive makers Seagate Technology Inc. and Conner Peripherals Inc. are engaged in talks aimed at a possible merger worth $1 billion, the two companies said yesterday.

Analysts said the merger could create one of the largest disk-drive manufacturers in the world.

In a joint statement, the companies said stockholders of Conner would receive 0.442 share of Seagate Technology commonstock for each share of Conner Peripherals common stock. The pTC agreement is subject to approval by the boards of directors of both companies.

Seagate, based in Scotts Valley, Calif., is the largest independent maker of computer disk drives, producing high-end drives for mainframes, minicomputers and workstations. San Jose, Calif.-based Conner is one of the nation's largest disk-drive makers. The two companies had a total of $5.9 billion in revenues last year.

Polaroid stock tumbles after earnings projection

Polaroid Corp.'s stock dropped yesterday after the instant photography company said 1995 earnings would be substantially below those of last year.

In a statement late Tuesday, the Cambridge, Mass.-based maker of instant cameras, film and other imaging devices cited slower-than-expected sales growth in Russia and unfavorable shifts in foreign exchange.

The company said 1995 operating profit would be substantially lower than its own prediction, made in late June, of approximately $200 million. Its shares fell $2, to $39.125, in New York Stock Exchange trading yesterday.

Polaroid also said it expects third-quarter results to come in below analysts' expectations. Analysts say the company will report third-quarter earnings equal to about 81 cents a share.

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