Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Article excerpt

ST. LOUIS ESSEX INDUSTRIES INC. Keith Guller Named As Chief Executive

Keith B. Guller, 40, an 18-year veteran of Essex Industries Inc., has been named the company's chief executive, replacing his father, Harold Guller, who remains chairman emeritus.

Keith Guller will retain his titles as president and chief operating officer.

Essex Industries, with annual sales of about $30 million, makes and tests products for such industries as military, aerospace, commercial aircraft, medical equipment and home health care. Essex, based in Affton, has 450 employees.

***** NATIONAL HOTELS Investors Balking At Marriott Bond Offer

Marriott Corp.'s plan to split into two companies has run into investors' reluctance to accept an exchange offer for $1.525 billion of its bonds.

The nation's biggest hotel company said Wednesday that investors haven't yet tendered enough bonds to permit completion of the offer. It was extended to Friday from Tuesday. Bloomberg

***** PERSONNEL Gas Firm To Lay Off Up To 1,400 Workers

Air Products and Chemicals Inc. of Allentown, Pa., said Wednesday that it will lay off 1,000 to 1,400 employees, or 7 to 10 percent of its work force, over the next two years.

A spokesman for the producer of industrial gasses and chemicals said the layoffs are aimed at helping the company "maintain its competitive edge." Reuters

***** Lockheed To Offer Buyout Packages

Lockheed Corp. said Wednesday that it will offer incentives to encourage salaried employees to retire as orders dwindle for the company's F-16 fighter aircraft. …

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