Local business briefs

Rosemount refinery expansions finished Flint Hills Resources, the refining subsidiary of Koch Industries Inc., said that no further expansions are scheduled for its Rosemount refinery, after a crude unit was modified this year to add 50,000 barrels of capacity. The expansion was completed in late October, company spokesman John Hofland said. The modification to the crude unit was part of a project that began in summer 2006 to add capacity to the plant. Hofland said in September that the expansion will increase operable production capacity to 330,000 barrels a day, from 280,000 barrels.

BLOOMBERG NEWS

UnitedHealth wins contract with N.Y. state UnitedHealth Group Inc. has won a contract with New York state to handle drug benefits for more than 1 million workers. Minnetonka-based UnitedHealth issued a statement Wednesday but didn't give the contract's potential effect on revenue. Medco Health Solutions Inc., the biggest U.S. manager of employee drug benefits, will provide services to UnitedHealth under the agreement. The four-year contract with New York to run the Empire Plan begins in January. It covers the state government and other participating government agencies.

BLOOMBERG NEWS

Xcel to restate 2 quarters of financial results Xcel Energy Inc. said Wednesday that it will restate its 2007 second- and third-quarter financial reports because of an accounting treatment for PSR Investments Inc., which owns and manages life insurance policies on some employees of Public Service Co. of Colorado, an Xcel unit. Minneapolis-based Xcel said the restatement won't have an adverse effect on its expected 2007 financial results or its previously disclosed 2008 earnings guidance. It said it expects the restatement to produce an "immaterial" reduction of less than 2 cents a share on reported net income for its second quarter, and an increase of less than 1 cent a share on reported net income for its 2007 third and fourth quarters.

DOW JONES NEWS SERVICE