Newspaper article THE JOURNAL RECORD

Sony Expected to Announce Plans for Glass Plant

Newspaper article THE JOURNAL RECORD

Sony Expected to Announce Plans for Glass Plant

Article excerpt

NEW STANTON, Pa. _ Sony Corp. is expected to announce plans for a glass plant that could double the 700 jobs at its manufacturing operations in western Pennsylvania.

The Japanese electronics company had announced in November that it signed a letter of intent with Corning Inc., based in Corning, N.Y., and Asahi Glass Inc. of Japan to build a glass plant near its operations in Westmoreland County, outside Pittsburgh. Intel To Build Chip Factory In Shanghai

SANTA CLARA, Calif. _ Intel Corp. will build a microprocessor factory in Shanghai, China, its third plant in Asia.

Intel, the world's largest maker of computer chips, on Friday was granted land-use rights by the city of Shanghai. The company did not say how much the plant would cost. Construction will begin in the fourth quarter of this year and is expected to last two years, Intel said.

The company hopes the new plant will help meet component demand in China and the Asia-Pacific region. The company opened a development lab in Shanghai last fall to assist local software developers create products that run on Intel chips. Hi-Lo Automotive Shares Surge on $121 Million Buyout

NEW YORK _ Hi-Lo Automotive Inc. shares jumped 16.4 percent Friday on news it will be acquired by Chief Auto Parts Inc. for $121 million. Chief, a Dallas-based automotive parts seller, announced plans to buy Houston-based Hi-Lo, one of its competitors, after the stock market closed Thursday.

Under the agreement, Hi-Lo stockholders will receive $11 a common share for each of their 11 million shares.

Chief also agreed to assume certain Hi-Lo debts. The combined company would operate nearly 700 auto supply retail outlets, said Chief, which is owned by Trust Co. of the West, a Los Angeles-based investment group. On the news, Hi-Lo stock rose $1.50 to close at $10.62 a share in Friday's trading on the New York Stock Exchange. Motorola To Invest $15 Million to Expand Distributor

DALLAS _ Motorola Inc. plans to invest $15 million in CellStar Corp. …

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