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BUSINESS
September 30, 1998 | Bloomberg News
Union Camp Corp. said it will cut about 540 jobs as the ninth-largest U.S. paper and chemicals company tries to save about $42 million a year in costs amid dismal global markets for its paper products. The company said it will take a pretax third-quarter charge of about $49 million for the job cuts--constituting about 3% of its 18,000-person work force--and write-downs of some assets it plans to sell.
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BUSINESS
November 25, 1998 | From Times Wire Services
International Paper Co., the world's largest paper producer, said Tuesday that it is buying smaller rival Union Camp Corp. for $4.9 billion, joining the wave of U.S. paper producers desperately seeking to slash costs amid slumping prices and booming Asian imports. Union Camp shareholders would get stock valued at $71 a share, or 45% more than Monday's closing price. International Paper, with 1997 sales of $20.1 billion, would also assume $1.7 billion of Union Camp debt. Wayne, N.J.
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BUSINESS
November 25, 1998 | From Times Wire Services
International Paper Co., the world's largest paper producer, said Tuesday that it is buying smaller rival Union Camp Corp. for $4.9 billion, joining the wave of U.S. paper producers desperately seeking to slash costs amid slumping prices and booming Asian imports. Union Camp shareholders would get stock valued at $71 a share, or 45% more than Monday's closing price. International Paper, with 1997 sales of $20.1 billion, would also assume $1.7 billion of Union Camp debt. Wayne, N.J.
BUSINESS
September 30, 1998 | Bloomberg News
Union Camp Corp. said it will cut about 540 jobs as the ninth-largest U.S. paper and chemicals company tries to save about $42 million a year in costs amid dismal global markets for its paper products. The company said it will take a pretax third-quarter charge of about $49 million for the job cuts--constituting about 3% of its 18,000-person work force--and write-downs of some assets it plans to sell.
CALIFORNIA | LOCAL
August 25, 2001 | From Times Staff and Wire Reports
Kenneth Reese Cole Jr., an assistant to two presidents, died Aug. 16 in his sleep at his summer home in Willsboro, N.Y. He was 63. Born in New York City, Cole served as the director of the White House's Domestic Council under Presidents Richard Nixon and Gerald Ford. In December 1972, Nixon named Cole to the post, which had been held since its creation in 1970 by John D. Ehrlichman, the president's chief assistant for domestic affairs. Cole, then 33, had been Ehrlichman's deputy for three years.
BUSINESS
February 5, 1999
* International Paper Co. won antitrust clearance from the Justice Department for its $6.5-billion purchase of rival paper company Union Camp Corp., the companies said. The deal, which would form a company with $24 billion in sales, is expected to close by the end of the first quarter. * * The European Commission confirmed it has approved Cargill Inc.'s $1-billion acquisition of the grain business of archrival Continental Grain Co. The two privately held U.S.
BUSINESS
October 13, 1995
Three of the nation's largest forest products companies--Union Camp Corp., Georgia-Pacific Corp. and Boise Cascade Corp.--reported sharply higher quarterly profits Thursday, fueled by strong sales of paper and office products. Union Camp, which is based in Wayne, N.J., said its net income soared to $129.7 million, or $1.85 a share, from $21.7 million, or 31 cents a share. It said net sales for the quarter grew to $1.07 billion from $856 million.
BUSINESS
June 25, 1997 | E. SCOTT RECKARD, TIMES STAFF WRITER
Booming computer services firm Systems Management Specialists announced its biggest deal yet on Tuesday, a nine-year, $100-million contract to handle data processing for CBS. Systems Management will take over CBS facilities in Secaucus, N.J., and Shelton, Conn., beginning July 1. About 100 of CBS' 200 computer systems workers will become SMS employees, SMS President Patrick Dolan said. No layoffs are expected.
BUSINESS
April 12, 2000 | From Bloomberg News
PanAmSat Corp., the largest commercial-satellite operator, said its first-quarter profit soared by 86% to $56.6 million, or 38 cents a share, well beyond the 19 cents analysts were expecting, as it sold more video, Internet and data services. The results sent shares in Greenwich, Conn.-based PanAmSat up $4.31, or 10%, to close at $49.75, on Nasdaq. PanAmSat, which is 81%-owned by General Motors Corp.'s Hughes Electronics unit, said revenue climbed 55% to $299.1 million.
NEWS
September 25, 1990 | DAVID G. SAVAGE, TIMES STAFF WRITER
The Environmental Protection Agency urged consumers Monday to avoid eating fish caught near 20 paper mills, including two in California, because of the cancer risk resulting from high levels of dioxin in the water. A regular diet of fish taken from waters near the worst of the plants, an International Paper Co. facility near Georgetown, S.C., would give a person a one in 50 chance of getting cancer, the EPA calculated.
BUSINESS
March 4, 1989 | JIM SCHACHTER, Times Staff Writer
When Britannia dominated the globe, Victoria ruled, by the Grace of God, as queen of the United Kingdom of Great Britain and Ireland, Defender of the Faith and Empress of India. Today, some of America's corporate empire builders could give her a run for her money.
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