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MERGERS AND ACQUISITIONS
Bellcomb Technologies, a New Hope-based manufacturer of honeycomb panels, has acquired Stonwurks, a division of M&G Designs of Sylvan Grove, Kan. Stonwurks makes products of thin stone bonded to honeycomb for a number of markets including marine, transportation and construction. Stonwurks production and key employees will move to Bellcomb's New Hope plant and will enable Bellcomb to offer customers a lightweight stone panel alternative to traditional stone products.
DEBT AND EQUITIESFitch Ratings has assigned an 'AAA' rating to two City of Minneapolis issues: $40.3 million general obligation (GO) various purpose refunding bonds, series 2009B; $6.1 million GO tax increment refunding bonds (St. Thomas/WMEP parking ramp), series 2009C. The bonds will sell competitively on Nov. 9. The bulk of series 2009B proceeds will convert existing variable-rate debt to fixed-rate debt; about $9.8 million of proceeds will finance improvements within special assessment areas.
PERSONNELEcolab Inc., St. Paul, has appointed Victoria Reich to the board of directors. Reich is senior vice president and chief financial officer of United Stationers Inc.
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