May 5, 2004
* David R. Whitwam, 62, will retire at the end of June after 17 years as Whirlpool Corp.'s chairman and chief executive, the company said. Jeff M. Fettig, 47, president and chief operating officer, will take over as chairman and CEO. * InVision Technologies Inc. said it had received a request for more information from the Federal Trade Commission regarding General Electric Co.'s proposed $900-million acquisition of the company.
August 26, 2004 |
Bomb-detection equipment made by L-3 Communications Holdings Inc. and InVision Technologies Inc. to check passenger luggage will be part of a federal pilot program for testing commercial airliner cargo at a select number of airports, the companies said. Most baggage is screened for explosives on passenger planes, but loose commercial cargo items such as manufactured components, individual packages and small parcels are not, leading to calls for additional screening. L-3 shares rose $1.27 to $61.
March 18, 2004 |
The Securities and Exchange Commission is investigating alleged insider trading in InVision Technologies Inc.'s call options in the days before General Electric Co. agreed to buy the company for $900 million. The U.S. District Court for the Southern District of New York issued a temporary restraining order at the SEC's request Tuesday, freezing $2 million of assets of "unknown purchasers" of call options on InVision shares, the SEC said.
November 14, 1996 |
InVision Technologies Inc. said it will team up with EG&G Inc.'s Astrophysics Research Corp. unit to integrate their two bomb-detection systems. Wellesley, Mass.-based EG&G will invest $2 million in InVision in return for 91,885 InVision common shares, and the two companies will enter into a joint sales and marketing agreement. Foster City, Calif.-based InVision makes a device called a CTX 5000 that uses computer tomography to peer inside luggage. EG&G makes an X-ray system called Z-Scan.
November 2, 2004 |
General Electric Co. agreed Monday to delay until Dec. 27 its purchase of InVision Technologies Inc. while federal agencies look into InVision's disclosure of possible improper payments. GE agreed in March to buy InVision, the biggest supplier of bomb-detection machines for U.S. airports, for $900 million to expand its security product line. The agreement expired Sunday. InVision, based in Newark, Calif.
December 7, 2004 |
InVision Technologies Inc., the top U.S. supplier of airport bomb-detection machines, said it reached agreement with the U.S. Department of Justice in a criminal probe, allowing General Electric Co. to complete its $900-million purchase of the company Monday.