Newspaper article THE JOURNAL RECORD

Briefly.Worldwide

Newspaper article THE JOURNAL RECORD

Briefly.Worldwide

Article excerpt

Honda to Produce One Millionth Car in U.S. MARYSVILLE, Ohio - The one millionth automobile produced by Honda in the United States will roll off the assembly line Friday, Honda officials announced Wednesday.

The car, a Honda Civic four-door sedan, will be driven off the assembly line by the first associate hired at Honda of America Manufacturing in 1978, Al Kinzer. Honda refers to its employees as associates.

Moore McCormack Agrees to Be Acquired NEW YORK - Moore McCormack Resources Inc. said Wednesday it has agreed to be acquired by Southdown Inc. for $512 million in cash after resisting repeated overtures from the Houston-based cement company.

Moore McCormack's board recommended shareholders relinquish their shares to Southdown's existing $40-a-share tender offer. The offer expired at midnight EDT Wednesday, but Southdown said it would accept Moore McCormack shares for payment following the expiration of that deadline.

Under terms of a definitive merger agreement, Southdown also will acquire Moore McCormack's convertible issues and debt. The companies have agreed to dismiss all pending litigation between them.

Southdown also said it would terminate a previous agreement to sell Moore McCormack's oil and gas subsidiary, called Moore McCormack Engery, to Castex International Corp. for $125 million in cash.

Southdown's latest offer for Moore McCormack's 12.8 million outstanding shares represents the fourth time the company has sweetened its bid.

EEC Finds No Signs of Economic Recession BRUSSELS, Belgium - Despite a slight drop in the European Economic Community's economic sentiment indicator in February, the 12-nation trading bloc is not heading for a recession, the EEC reported Wednesday.

The EEC Commission, citing the latest business and consumer survey, said there were ``no signs of an approaching recession.'' It said the stock market crash and the turbulence on foreign-exchange markets last fall affected ``economic performance less than originally feared. …

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