An environmental study of the Port of Everett’s plan to redevelop its north marina area will be the subject of a public meeting from 5:30-8 p.m. today at the Marine View Conference Center, 404 14th St. The study, required by state law, will look at such things as how the development will affect air and water quality, how the site will be cleaned of any hazardous materials, what will be done to improve public access and how the changes will affect area traffic. Public comments on the study will be gathered at tonight’s meeting and also will be collected by senior planner Graham Anderson until March 29. Those who can’t attend tonight’s meeting can look at the study materials at the Port of Everett, 2911 Bond St., Suite 202.
The parent company of Footaction, a national retailer of athletic shoes, is closing its store in Lynnwood’s Alderwood Mall. Footstar Inc. filed for Chapter 11 reorganization last week before announcing the closure of 77 of its 429 Footaction stores, including two others in this state. The company also is closing all 88 of its Just For Feet stores, none of which are in Washington. All the affected stores should be closed by summer, the company said.
The J.M. Smucker Co. is teaming up with the Pillsbury Doughboy. Smucker said Monday it is acquiring Minneapolis-based International Multifoods Corp., the maker of Pillsbury, Hungry Jack and other food brands, in a $500 million cash and stock deal. Shares of International Multifoods surged nearly 26 percent on the news. The agreement calls for Multifoods shareholders to get $25 per share in a combination of 80 percent Smucker stock and 20 percent cash. The maker of Smucker’s jams and Jif peanut butter also would assume about $340 million of Multifoods’ debt.
Accelerating its push into digital commercial printing, Eastman Kodak Co. is buying two business lines from German manufacturer Heidelberger Druckmaschinen AG in a deal worth up to $150 million. Kodak shares slipped on the news, after the company reduced its earnings outlook. The world’s biggest film photography company said Monday it will acquire Heidelberg’s 50 percent stake in NexPress Solutions LLC, a six-year joint venture that makes digital color printing systems. It will also buy Heidelberg Digital, which makes digital black-and-white printing systems. In a statement, Kodak said the deal means that it now expects 2004 earnings to be between $2.05 and $2.35 a share, compared with earlier estimates of $2.25 to $2.55 a share.
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