Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Article excerpt

ST. LOUIS ENERGY Tire-To-Fuel Venture Gets New Partner

Waste Recovery Inc. will get $2 million in backing for its tires-to-fuel plants in Illinois from a new partner in the venture, Nipsco Development Co.

Dallas-based Waste Recovery plans to build two $5 million tire-shredding plants, one in Dupo and the other in Marseilles in northern Illinois. The plants will convert used tires to fuel for Illinois Power Co.'s Baldwin plant, about 40 miles southeast of St. Louis.

Nipsco Development will own 55 percent of the tire-shredding venture and Waste Recovery will own 45 percent and operate the plants. Nipsco is a subsidiary of Nipsco Industries Inc. of Hammond, Ind., the owner of Northern Indiana Public Service Co.

***** BOATMEN'S BANCSHARES Texas Bank Bought

Boatmen's Bancshares Inc. said it has completed the purchase of First Amarillo Bancorporation of Amarillo, Texas. First Amarillo has about $800 million in assets, compared to Boatmen's $26 billion. Boatmen's paid for the purchase with 5.8 million shares of its common stock.

***** MISSOURI ELECTRONICS AT&T Unit Sells Connector Business

American Telephone & Telegraph Co. said Wednesday that its AT&T Microelectronics unit had signed a letter of intent to sell its connector systems business to Berg Electronics. Financial terms weren't disclosed.

The connector systems unit, based in Lee's Summit, Mo., supplies electrical and optical connectors primarily to other AT&T businesses. The connectors are used in telecommunications and data processing equipment.

AT&T Microelectronics President Curtis J. Crawford said, "The proposed arrangement . . . provides continued employment for the majority of AT&T Microelectronics employees at Lee's Summit. …

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