MERGERS AND ACQUISITIONS Great River Energy, Maple Grove, finalized the purchase of the Elk River Resource Recovery Facility, which processes the municipal solid waste used to make refuse-derived fuel for powering Great River Energy's Elk River Station power plant. Great River Energy previously owned 15 percent of the processing facility. The other 85 percent was owned by Resource Recovery Technologies. To better reflect the integrated nature of these two facilities, the power plant is now named the Elk River Energy Recovery Station, and the processing facility is now named the Elk River Resource Processing Plant.
NEW BUSINESS PLR IP Holdings, Minneapolis, the owner of the Polaroid brand, has signed a six-year licensing agreement with consumer electronics manufacturer and distributor, Starlight Marketing, a subsidiary of Starlight International Holdings. Under the terms of the agreement, Starlight will develop Polaroid-branded flat-panel TVs in sizes 12 to 100 inches for retail in the United States and Canada. Polaroid TV products from Starlight are initially expected to contribute an estimated $500 million in sales over the term of the agreement.
Alliant Techsystems Inc., Eden Prairie, has received follow-on production contracts valued at $32 million to produce rocket motors and warheads for the precision-strike laser-guided Hellfire II missile. Alliant Techsystems will manufacture about 7,100 rocket motors and 2,200 metal augmented charge warheads at its manufacturing facility in Rocket Center, W. Va.
NEW PRODUCTS Cardiovascular Systems Inc., St. Paul, has completed patient enrollment in its prospective, randomized Calcium 360 clinical trial, part of the company's 360 Clinical Series. The Calcium 360 feasibility study is evaluating the treatment of peripheral arterial disease (PAD) behind and below the knee using CSI's Diamondback 360 System, a minimally invasive catheter for treating PAD anywhere in the leg. Dr. Nicolas Shammas, an interventional cardiologist at Trinity Medical Center, Bettendorf, Iowa, is the study's principal investigator.
DIVIDENDS Apogee Enterprises Inc., Bloomington, declared a quarterly cash dividend of 8.15 cents per share, payable June 2 to shareholders of record on May 18. The company has about 28 million shares outstanding.
