DuPont Closing Plant
E.I. DuPont de Nemours & Co. Inc. plans to close one of its two Rochester plants, throwing 200 people out of work.
The Delaware-based firm announced last week that in mid- 1995 it will shut down its Industrial Imaging Systems Department facility at 666 Driving Park Ave.
DuPont said the move stems from a decision to withdraw entirely from the industrial imaging business. A separate DuPont facility on Seneca Avenue that makes other photographic products is not affected.
Kodak Fills Slots
Following the appointment last month of six senior marketing people, Eastman Kodak Co. this week filled additional posts in its Digital & Applied Imaging business.
David Swift was appointed to the new position of general manager and vice president of operations, effective March 1. Swift, now assistant to CEO George Fisher, will report to digital imaging chief Carl Gustin.
Cynthia Martin, now a manager in Kodak’s Customer Equipment Services Division, replaces Swift. James Moxley, general manager of Kodak’s Austrian operations, was named manager of logistics under Swift.
Richard Lohrbach was named director of strategic alliance and Murphy Moore becomes director of strategic and business planning. Both are Kodak insiders who will report to Gustin.
Investor Sues B&L
A Bausch & Lomb Inc. stockholder filed a class-action suit against the company and its executives for allegedly disseminating misleading information and concealing problems.
The suit, filed in federal court by Herman Grossman, calls for the firm to compensate stockholders for the $2-a-share drop following the release of its 1994 financial report.
GeVa Chief Resigns
Howard Millman this week announced he will end his 13-season term as GeVa Theatre’s producing artistic director.
Millman accepted the same position with the Asolo Theatre Company in Sarasota, Fla.
ESL Seeks Conversion
After ending 1994 with record net income of $12.8 million, Eastman Savings and Loan Association hopes to enter 1996 as a credit union with its deposits federally insured.
With conversion to a federal credit union, it will have deposit insurance through the National Credit Union Share Insurance Fund. Conversion requires a vote of approval from ESL members, after it earns acceptance from the National Credit Union Administration.
Time Warner Acquires Cablevision
Time Warner Inc. added even more Rochester-area cable viewers to its customer base with a $2.7 billion agreement to acquire Cablevision Industries Inc.
Time Warner already claims 196,000, mostly Monroe County subscribers under its local entity, Greater Rochester Cablevision Inc. The entertainment giant this week announced an agreement to purchase Cablevision, adding another 49,000 subscribers throughout Genesee, Livingston, Ontario, Orleans, Seneca, Wayne and Wyoming counties.
Approximately 60 percent of the acquired subscribers–particularly from systems in Upstate New York, Florida and North Carolina–will be allocated to cable partner Advance/Newhouse as part of a clustering strategy.
In all, Time Warner added 1.3 million subscribers to bring the total to 11.5 million, placing it in a race with Tele-Communications Inc. to become the nation’s largest cable company.
Time Warner this week also announced plans to sell $2 billion to $3 billion of its assets and place cable and telephone operations in a separate company in an attempt to simplify its corporate structure and reduce debt.