Company news

VEIT, a specialty contracting and waste management company based in Rogers, has signed a letter of intent to acquire Minneapolis-based Layne Minnesota Co., a contractor that specializes in installing large-diameter drilled piers/caissons. Terms were not disclosed.

Trans-Alarm Inc., Burnsville, has completed acquisition of the local monitoring accounts of Webco Security Inc., Ramsey. The sale includes a number of Webco's monitored accounts in the Twin Cities metropolitan area.

Techware Distribution Inc., Minneapolis, has acquired Maxoptix Corp. from Breece Hill of Louisville, Colo. Maxoptix makes Magneto Optical Disks and Magneto Optical Drive storage devices. The acquisition strengthens Techware's ability to distribute Magneto Optical disk media and drives in North America, South America, Europe and Asia.

St. Jude Medical Inc., Little Canada, announced regulatory approval from Japan's Ministry of Health, Labor and Welfare, plus reimbursement approval, for the SJM TailorFlexible Ring and SJM Tailor Flexible Band, the company's first products in Japan for repairing diseased heart valves.

The Otto Bremer Foundation, St. Paul, gave $32.1 million in charitable grants in 2007 to Bremer Bank communities in Minnesota, North Dakota and Wisconsin. The foundation gave about $21.7 million in grants to communities in Minnesota, $4.9 million in North Dakota, $2.1 million in Wisconsin, $65,000 in Montana and $130,600 in other locations.

Alliant Techsystems Inc., Edina, has been chosen by the Air Force Research Laboratory to receive a $1.6 million contract for continued development of an innovative small, lightweight warhead that will provide a unique battlefield solution to stop an enemy target.

General Mills Inc., Golden Valley, said its board of directors approved an increase in the quarterly dividend to 40 cents per share from 39 cents, payable May 1, to shareholders of record April 10.

Charles Swanson has been appointed director of the St. Cloud State University master of science program in regulatory affairs and services. During nearly 30 years of leading regulatory affairs at Medtronic Inc. Swanson played an influential role in the establishment of government policies and many of the guidelines and procedures used by the Food and Drug Administration.

Horton Holding Inc., Roseville, has appointed David Adams president and chief executive officer of Horton Holding Inc. and all subsidiary companies. Adams previously was a division chief executive officer for ThyssenKrupp Waupaca.

Veritec Inc., Golden Valley, has appointed to its board David Reiling, CEO of Sunrise Community Banks, St. Paul, and Laird E. Powers, president of a Silicon Valley, Calif. construction company and a private investor in emerging technology companies. The company also said that Dean Westberg has resigned from the board for health-related reasons.