College nets funding for composites
LYNNWOOD, WASH. - The Defense Department has awarded $500,000 to Edmonds Community College of Lynnwood for integrated educational programs involving polymer matrix composites, metals, ceramics and glass.
In the fall, the two-year college plans to begin offering a transferable associate of applied science degree in materials science technology, and educational partner Central Washington University will offer a bachelor of science degree in industrial engineering and a master's degree in engineering technology. Ellensburg, Wash.-based Central Washington has a Lynnwood campus.
Edmonds college is establishing a materials technology laboratory and resource center under a three-year, $1 million grant that the National Science Foundation awarded in 2000. Recently, Edmonds and the University of Washington jointly applied for additional funding for the lab, center and related resources.
Ex-Exide execs sentenced in battery scam
EAST ST. LOUIS, ILL. - Two former top officials of battery maker Exide Technologies Inc. are in prison, sentenced for their part in a scheme to sell defective batteries.
The men were sentenced in U.S. District Court in East St. Louis. Arthur M. Hawkins, former Exide chief executive officer, president and chairman, received 10 years in prison and a $1 million fine Dec. 20. Douglas Pearson, former executive vice president and president-North American operations, is to serve five years and four months and pay a $150,000 fine.
The two were convicted in June of wire fraud and conspiracy to commit wire fraud. Prosecutors accused them of selling bad batteries to Sears Roebuck & Co. in the 1990s, where they were sold under the DieHard brand.
Both men were forced out of their posts in 1998, and Princeton, N.J.-based Exide had filed a civil lawsuit against them. Action on that suit was awaiting a decision in the criminal case.
Exide also injection molds battery trays in-house. In March, the company announced it would close two of its three U.S.-based molding operations - in Jackson, Miss., and Vicksburg, Miss. - and consolidate molding at Lampeter, Pa. The company has operated under Chapter 11 bankruptcy protection since April.
RTI execs acquire firm, plan expansion
HICKORY, N.C. - Two executives of Recycling Technologies Inc. have purchased the Hickory-based grinder manufacturer, and they plan to expand RTI beyond its regional base in the Southeast.
RTI President Steve Mullis and the vice president, Scott Sharp, announced they purchased the 5-year-old company in October. Terms were not disclosed.
The company is seeking distributors as it expands to markets throughout the United States and Canada.
RTI was formed in 1997 to build vertical and horizontal grinders for the furniture industry in the Southeast. The company sells the machines to customers in the wood and plastics processing businesses.
RTI recently introduced a line of low-speed rotary grinders that turn at only 120 revolutions per minute, operate at low noise level and run at a high torque of 30,000 foot pounds per inch.
AET to restate its profit since 1998
NEW CASTLE, DEL. - Applied Extrusion Technologies Inc. will restate its financial statements for fiscal years 1998 through 2001 and the first three fiscal quarters of fiscal 2002.
The decision will decrease the New Castle-based company's profit over the period by $18 million to $20 million, according to a Dec. 23 news release. The changes primarily are the result of a change in accounting for three sale-leaseback transactions and a 1998 restructuring.
None of the change will impact the company's cash position or increase obligations, according to the release.
AET is an extruder of oriented polypropylene films used in flexible packaging and labels.