Company news

Last update: May 13, 2008 - 8:02 PM

DEBT AND EQUITIES

3M Co., Maplewood, declared a dividend of 50 cents per share payable June 12 to shareholders of record at the close of business on May 23.

American Church Mortgage Co., Minnetonka, declared a dividend of 10 cents per share. The dividend was paid on April 30 to shareholders of record on March 31.

G&K Services Inc., Minnetonka, has authorized an expansion of its existing share repurchase program. This authorization increases the share repurchase program previously approved by the company in May 2007 from $100 million to $175 million.

UnitedHealthcare Specialty Benefits, Golden Valley, now provides coverage under all of its insured dental plans for a new oral cancer screening test for potential abnormalities inside the mouth, including premalignant lesions and oral cancer.

NEW BUSINESS

FSI International Inc., Chaska, manufacturer of wafer cleaning systems used in the fabrication of integrated circuits, shipped its single-wafer wet cleaning technology to a major semiconductor manufacturer for the development of back-end-of-line cleaning capability for 32nm IC manufacturing.

NEW PRODUCTS

Myocor Inc., Maple Grove, announced that its percutaneous iCoapsys device was successfully implanted by Dr. Wes Pedersen, an interventional cardiologist with the Minneapolis Heart Institute Foundation at Abbott Northwestern Hospital, on May 7.

St. Jude Medical Inc., Little Canada, announced U.S. Food and Drug Administration and European CE Mark approvals of the IsoFlex Optim pacing lead.

Kroll Ontrack, Eden Prairie, announced a new media-disposal program to help businesses and individuals safely dispose of their end-of-lifecycle hard drives in an environmentally conscious way. The two-step process involves erasing data using software and hardware and media disposal that includes separating hazardous materials from recyclable metals and components. Disposal of remaining materials does not include incinerators or landfills.

UTILITIES

Minnesota Power, Duluth, a subsidiary of Allete Inc., plans to purchase a major transmission line from North Dakota, phase out a long-term contract to buy coal-based electricity, and add several hundred megawatts of wind generation.

Recent Business stories

Borders Group to close 200 Waldenbooks stores, cut 1,500 jobs in January to shrink chain - May 13, 2008

Borders Group to close 200 Waldenbooks stores, cut 1,500 jobs in January to shrink chain - Borders Group Inc., the second-largest U.S. bookstore chain, said Thursday it would shutter more of its small-format Waldenbooks stores in January as it focuses on its more profitable superstores. More