MERGERS AND ACQUISITIONS Hastings-based Intek Plastics acquired the assets of Elite Plastic Corp. of Hawthorne, N.J., this week. Terms were not disclosed. The deal will broaden Intek's customer base. For 25 years, privately-held Elite has made custom plastic display stands, kiosks and other items for retailers in the northeastern United States. Intek makes custom extrusion products for manufacturers in a variety of fields, including agricultural, construction, retail, refrigeration, appliance, recreation, telecommunications and transportation. Intek will maintain its Minnesota and New Jersey plants and retain both sets of workers, officials said.
Northern Star Financial Inc., Mankato, announced merger plans for NSBK and River City Mortgage and RHS Title, wholly owned subsidiaries of River City Group of Eagan. The agreement is subject to regulatory approval. Terms were not disclosed.
PERFORMANCE Ceridian Corp., Bloomington, reported revenue of $447.5 million for the fourth quarter and $1.7 billion for the full year. The revenue represents increases of 10.8 percent and 6.9 percent from the year-ago periods.
