Originally created 06/26/02

Business briefs



Solvay will boost production output

ATLANTA - Solvay Advanced Polymers LLC said it will expand the production capacity of its polyamide-imide plant in Greenville, S.C., during the next nine months. When completed, the plant's ability to produce Torlon polyamide-imide will increase by 30 percent.

The company also owns a polymers plant in south Richmond County, the former BP Amoco Polymers. Belgium-based Solvay SA acquired both facilities when it purchased BP Amoco's engineering polymers business in 2001.

The Torlon resin is used to make thrust washers, seal rings and jet engine components.

Dupont increases earnings projection

WILMINGTON, Del. - DuPont increased its estimate for second-quarter earnings Tuesday, citing higher sales across most of its businesses. Its shares rose more than 2.5 percent by midday.

DuPont said it expects to earn between 64 cents and 67 cents per share for the quarter ending this month, up from its previous estimate of 55 cents per share.

The consensus forecast of analysts surveyed by Thomson Financial/First Call was 56 cents per share. DuPont reported second-quarter earnings of 41 cents per share last year.

Tax break helps Rite Aid get profit

HARRISBURG, Pa. - Drugstore chain Rite Aid Corp., which has been struggling in the aftermath of accounting irregularities that led to the indictment of four executives, swung to a slight first-quarter profit with the help of a huge tax benefit.

The nation's third largest drugstore chain said Tuesday it earned $2.6 million in the three months that ended June 1. That amounted to a loss of 1 cent a share after paying preferred stock dividends not included in net income.

Rite Aid lost $211.1 million, or 56 cents per share, in the same period last year.

AROUND TOWN

Club Car gives away a day on pit crew

Augusta-based Club Car Inc. is sending four golf course superintendents to attend a NASCAR Winston Cup race this year as honorary pit crew members of the Hendrick Motorsports Racing Team.

The superintendents, from Pennsylvania, New York, Missouri and Oklahoma, were randomly selected from a company promotion.

The promotion was coordinated by authorized Club Car dealers nationwide.