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A federal bankruptcy judge in California has approved the sale of Fleetwood Enterprises Inc.’s Decatur motor home operations to Industrial Partners Capital Fund IV, Fleetwood announced Thursday.
The $53 million deal is expected to close in a few weeks, and the buyer said it intends to keep making motor homes for a market it expects to rebound.
The purchase by New York-based Industrial Partners covers Fleetwood’s Decatur operations, some equipment at a Fleetwood motor home plant and rights to the Fleetwood brand. Riverside, Calif.-based Fleetwood also owns a manufactured-housing plant in Garrett that it’s trying to sell.
About 600 work at Fleetwood’s Decatur facilities.
Steel Dynamics Inc. has issued more shares and convertible securities. The new issues are the result of underwriters exercising options after the issuance of shares and securities earlier this month.
Fort Wayne-based Steel Dynamics went to the markets in early June to raise more than $600 million to avoid violating debt-to-equity requirements in its contracts with banks. The shares and securities proved so popular with investors that underwriters needed an additional 4 million shares and $38 million in senior notes to cover overallotments. The senior notes can be converted to stock if share prices rise.
SDI stock closed up 22 cents Thursday at $15.20 on the Nasdaq stock exchange.
Wells Fargo & Co. on Thursday today announced that Mary Bell has been appointed regional president for Indiana and Ohio.
Bell will manage Wells Fargo’s Regional Banking operations for its Indiana/Ohio region, which includes 39 banking stores and more than 530 team members. She will be based in Fort Wayne.
A native of El Paso, Texas, Bell joined Wells Fargo in 1996. She most recently served as Retail Banking president for Fort Worth, Texas.
Sweetwater Sound Inc. will hold a ceremony at 10:30 a.m. today at its campus at 5501 U.S. 30 W. to celebrate a “green building” designation.
The music instrument and pro audio retailer said it received a LEED (Leadership in Energy and Environmental Design) Platinum certification from the U.S. Green Building Council. Sweetwater said in a statement the certification is the highest rating for designing and constructing the “world’s greenest, most energy-efficient and high-performance buildings.”
Sweetwater’s $35 million, 150,000-square-foot corporate headquarters was completed in January 2008, designed by local architectural firm MSKTD.
Household-products maker Kimberly-Clark Corp. said Thursday it plans to cut 1,600 jobs, or 3 percent of its global workforce, as it slims down in the tough economy.
The maker of Kleenex tissues, Huggies diapers and other household items employs 53,000 people. It plans to make the cuts primarily among salaried and non-production workers, and executives said the company doesn’t plan to close plants.
