DEBT AND EQUITIES Ikonics Corp., Duluth, announced that its board of directors approved repurchase of an additional 100,000 shares of common stock, bringing the total shares eligible for repurchase to 150,007 shares. The board previously had authorized repurchase of 150,000 shares of common stock, of which 50,007 shares remain.
Company news
August 2, 2008 at 4:44AM
Innovex Inc., Plymouth, will be delisted from the Nasdaq Stock Market. Trading in the company's common stock will be suspended on Monday. The company is working with a market maker to complete the application to have its common stock quoted on the OTC Bulletin Board under the symbol "INVX.OB."
DIVIDEND Ecolab Inc., St. Paul, declared a regular quarterly cash dividend of 13 cents per common share, to be paid Oct. 15 to shareholders of record Sept. 16.
MERGERS AND ACQUISITION 3M Co., Maplewood, completed its acquisition of TOP-Service für Lingualtechnik GmbH, an orthodontic technology and services company based in Bad Essen, Germany. Terms were not disclosed.
NEW BUSINESS ARAnet, Inc., Hopkins, which distributes copyright-free feature articles to newspapers and Web publishers, has launched a video distribution service. It will be free to clients in conjunction with any standard article campaign until Oct. 31.
PERSONNEL 3M Co., Maplewood, announced that Stefan Gabriel will join 3M as vice president of new ventures. Gabriel will drive the company's efforts to identify, acquire and develop technologies new to 3M and businesses using venture-style funding and management. Gabriel was director of vehicle innovations and concept vehicles at BMW.
Target Corp., Minneapolis, promoted Laysha Ward from vice president to president of community relations and Target Foundation. Ward, 40, joined Target in 1991 as stores sales leader for Dayton's department store.
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The funding is expected to give more than 5,000 Minnesotans, especially in rural areas, high-speed broadband access across the state and help at least 139 businesses and 368 farms.
