Newspaper article St Louis Post-Dispatch (MO)


Newspaper article St Louis Post-Dispatch (MO)


Article excerpt

ST. LOUIS RETAIL Edison Brothers To Buy Korean Firm

Edison Brothers Stores Inc. said Thursday it planned to expand its international buying division by purchasing the assets of a company in South Korea.

The company, Tri-Korea Ltd., has buying offices in Seoul, South Korea; Manila, Philippines; and San Pedro Sula, Honduras. It has previously served as a sub-agent to Kasmen Ltd. of Hong Kong, an apparel buying arm of Edison Brothers Stores International.

Andrew E. Newman, Edison's chairman, said buying Tri-Korea would help Edison expand its sourcing coverage in Asia and give it "a valuable presence in the Caribbean."

***** BROKERAGES Jones Offers Employees Partnership

Jones Financial Cos., the holding company for the investment firm of Edward D. Jones & Co., has raised $24.7 million dollars through a limited partnership offering to employees.

In the offering, 846 employees were given the chance to buy into the company for the first time and 1,195 others who already had invested were invited to increase their stakes, Jones said.

***** MEDIA Pulitzer Completes Station Purchase

Pulitzer Publishing Co. of St. Louis has completed its previously announced purchase of television station KCCI-TV in Des Moines, Iowa. The media company, which owns the Post-Dispatch, paid $22.2 million for the station's assets.

The Des Moines station is one of two television stations Pulitzer bought from H&C Communications Inc. of Houston. Pulitzer paid $142.6 million for the other station, WESH-TV in Daytona Beach, Fla.

***** MISSOURI CLOTHING Lee To Expand Jeans Plant In Richland

The H.D. Lee Co. plans to expand its operations in the small south-central Missouri town of Richland later this year, officials said. The blue-jeans maker will spend at least $1 million to renovate a building formerly owned by the city and add 50 new jobs, said plant manager Dale Hodkin. …

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