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Vehicle assembler prospective occupant of Cox Creek...


Vehicle assembler prospective occupant of Cox Creek site

UAZ of America Inc., a Dulles, Va.-based company that assembles Russian jeeps, is a leading prospect in joint efforts by state and Anne Arundel County officials to attract a manufacturer to the former Cox Creek Refining Co. site in Pasadena.

In March, the Maryland Port Administration bought the 167-acre site for $1.6 million from the Mitsubishi Corp., the parent company of the defunct Cox Creek Refining Co. The property contains a 600,000-square-foot manufacturing or warehouse building. Nearby on the site, the MPA plans to place sediment dredged from the Baltimore harbor.

For several months, the MPA, in conjunction with other state agencies and Anne Arundel economic development officials, has been trying to attract a manufacturer that ideally would be able to ship its products through the Baltimore port.

An MPA spokeswoman said a move here by UAZ could result in 250 jobs.

UAZ could not be reached for comment yesterday.

Northrop unit to build torpedo targets for British

A unit of the Linthicum division of Northrop Grumman Corp. has won a $6 million contract to build reusable underwater torpedo targets for the British Royal Navy, the company said yesterday.

The Anti-Submarine Warfare and Ship Systems unit won the contract to build three of the self-propelled targets, which simulate the sounds of submarines so that other vessels can test their electronics and torpedo systems.

The work will be performed in the business unit's office in Cleveland, Ohio. Anti-Submarine Warfare and Ship Systems also has offices in Sykesville.

Earnings up nearly 20% at Harbor Bank

Harbor Bank of Maryland's earnings jumped 19.8 percent in the first quarter to $236,000, the company said.

The Baltimore-based bank had $127.7 million in assets, up 10.7 percent in the quarter ended March 31, 1997, from the corresponding period a year earlier. Deposits were up 8.8 percent to $112 million, and loans rose 2.6 percent to $82.3 million.

Harbor added more than $3.6 million to its capital base. Total capital was $10.6 million, up 53.3 percent.

Manugistics stock will split 2 for 1

Manugistics Group Inc.'s board of directors yesterday approved a 2-for-1 stock split. Stockholders will receive one additional share for each share held.

The stock dividend will be distributed on June 11 to stockholders of record on May 23. After the split, the Rockville company will have approximately 22 million shares outstanding.

Manugistics shares closed yesterday at $54.50, up 87.5 cents, in Nasdaq trading.

Pub Date: 5/10/97

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