Advertisement - Click to support our sponsors.

Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, January 17, 2001

Drug company wins big military contract

Bergen Brunswig Drug Co. said today it has won an eight-year contract, expected to be worth $300 million in sales, to be the prime pharmaceuticals vendor for the Department of Defense in the Pacific Rim and Hawaii.

The Orange, Calif.-based subsidiary of Bergen Brunswig Corp. said that about $160 million of the sales through the life of the contract are expected to take place in Hawaii. The firm made news earlier this month when it agreed to a $4 million settlement over alleged illegal practices at Interstate Pharmacy Corp. in Honolulu. The State of Hawaii had sued after two employees said they were told to repack returned drugs for resale. Bergen Brunswick bought Interstate Pharmacy in 1999 and state officials said the practice was in place long before the purchase.

Steel framing firm expands into Kapolei

Dietrich Metal Framing, a longtime mainland manufacturer of metal framing systems, said today it has purchased the assets of Studco of Hawaii Inc. and plans to start operations in Kapolei.

The acquisition by Dietrich, a unit of Columbus, Ohio-based Worthington Industries Inc., gives the company two roll forming machines and the capacity to run a full line of residential frames. Dietrich said Kapolei operations will start by the end of the year at Campbell Industrial Park, employing 15 people.

CNN restructuring to cut 400 jobs

NEW YORK -- In its biggest shake-up since being founded 21 years ago, CNN is revamping its newsgathering structure, cutting about 400 jobs and appointing three senior news executives. The network has been struggling with a ratings slump and is gearing up for life under the newly created AOL Time Warner Inc. media empire.

The shake-up announced today, which comes less than a week after CNN parent Time Warner closed its merger with America Online, will concentrate CNN's sprawling news operations under a central authority to coordinate coverage for its various TV outlets and associated Web sites.