Originally created 05/12/00

Business briefs: Yarn company announces profits



Aiken-based Advanced Glassfiber Yarns on Thursday announced unaudited first-quarter earnings of $2.3 million, up from a loss of $800,000 a year ago, when the company charged off $3.6 million in extraordinary costs associated with debt.

Sales for the quarter increased 13.7 percent to $70.5 million resulting form a higher demand in the electrical and specialty glass fiber markets. The company, formerly a division of Owens Corning, produces glass yarns used in electronic industrial and construction products.

Department takes loan requests

The Housing and Neighborhood Development Department of the Augusta-Richmond County Commissoin will be accepting applicatioons for its economic development loan program until June 30.

The loan requests may range from $5,000 to $25,000, and these funds can be used to assist potential and existing business owners with job retention, expansion and creation of private-sector employment opportunities with Augusta-Richmond County. for more information, call 821-1797.

Newspapers create joint operation

DENVER-- Denver's tow newspapers, locked in a bitter competition for more than 100 years, announced Thursday they would form a jointly owned company to produce and market the newspapers.

Executives of The Denver Post, owned by MediaNews Group, and the Denver Rocky Mountain News, owned by E.W. Scripps Co., said their proposed agreement calls for the creation of The Denver Newspaper Agency, with each company getting a 50 percent share.