Company news

Updated: December 7, 2009 - 8:10 PM

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NEW PRODUCTS

ATS Medical Inc., Plymouth, has received CE Mark approval to distribute the ATS 3f Enable Aortic Bioprosthesis in the European Union.

NEW BUSINESS

3M Co., Maplewood, has formed the Mobile Interactive Solutions division, which consolidates the 3M projection systems department and the specialty display products business unit of 3M's Optical Systems Division. The new unit focuses on 3M's line of mobile projectors, interactive super-close projection solutions, image-enhancing projection screens, privacy and protection films, device personalization options and premium accessories.

DEBT AND EQUITIES

Select Comfort Corp., Plymouth, intends to offer shares of its common stock via an underwritten public offering. Piper Jaffray is acting as the sole manager for the underwritten public offering. The company plans to use the proceeds of the public offering to improve working capital and pay down debt. The proceeds from this public offering are expected to fulfill the obligations under the company's amended and restated credit agreement of Nov. 13 to issue common stock or other equity securities yielding certain proceeds.

PERSONNEL

Lawson Software, St. Paul, has promoted Stefan Schulz to chief financial officer, effective Jan. 1, succeeding Robert Schriesheim, who is leaving Lawson to become CFO of Illinois-based Hewitt Associates Inc. Schriesheim will continue to serve on the Lawson board as a non-employee director. Schulz, currently senior vice president of finance and chief accounting officer, joined Lawson in October 2005.