Matsushita to build showroom on Tokyo waterfront: Matsushita Electric Industrial Co Ltd plans to spend 10 billion yen to build exhibition facilities at a Tokyo waterfront development project, a Japanese business daily reported on Tuesday. The Nihon Keizai Shimbun newspaper reported in its evening edition that Matsushita planned to start construction of the facility for displaying new home appliances and cutting-edge technologies in late 1999, and to complete it in early 2001. A Matsushita spokesman saidthe company had applied to participate in the Tokyo metropolitan government's waterfront development project, but he declined to confirm any details about the firm's exhibition facilities plan.

Tokio Marine sues Yamaichi for recovery: Marine & Fire Insurance Co Ltd has filed a lawsuit against failed Yamaichi Securities Co Ltd, seeking to recover two billion yen -95 subordinated loans made to the brokerage, the Nihon Keizai Shimbun reported on Tuesday. The business daily said Yamaichi had not repaid the principal on the loans, which were extended at the end of March 1997 and matured at the end of March this year.It said Tokio Marine was the first insurer to sue for recovery of principal from Yamaichi, to which 14 life and non-life insurers provided a total 43 billion yen in subordinated loans.The others insurers are expected to follow suit as early as June 24, the daily said.

VA Tech subsidiary bags ATS order: Austrian engineering group VA Technologie AG said on Tuesday its subsidiary VA TMShad won a contract worth 880 million schillings ($70 million) to manufacture two car body welding plants for Germany's Daimler Benz AG. "The contract is the biggest individual order in the company's history," VA Tech said in a statement. The fully automated plants, to be ready for start-up in2000, will be used for production of the new C-Class Mercedes Benz.

Alps Elec to boost MR-Head output: Alps Electric Co Ltd said on Tuesday it plans to invest more than 10 billion yen to boost output of magneto-resistive (MR) Heads, a key component of hard disk drives, at its Japanese and Chinese manufacturing units. Alps Electric, a major comprehensive maker of electronic parts, will increase output of Mr Heads at three Japanese plants and start producing Mr Heads at the end of this year at Wuxi Alps Electronics Co Ltd in Wuxi, near Shanghai, a company spokesman said. The Chinese unit currently produces switches.

GreenMan to buy scrap tire operations: GreenMan Technologies Inc said on Monday it hadsigned a letter of intent to acquire the scrap tire collection and processing components of United Waste Service Inc a wholly- owned subsidiary of Republic Industries Inc Specific details of the proposed transaction were not disclosed, GreenMan said in a statement.The operations being acquired are located in Lawrenceville,Ga and Batesburg. SC GreenMan said the acquisition would add to its position in the tire recycling industry by adding $5 million in profitable revenues and over 4 million additional passenger tire equivalents per year.

America West faces possible FAA fines: The Federal Aviation Administrations is seeking to impose at least $1 million in civil penalties against America West Holdings Corp. for failing to properly oversee the work of outside maintenance contractors on its jetliners, the electronic edition of the Wall Street Journal reported Tuesday. The Journal said FAA officials uncovered problems with America West airline's supervision of outside aircraft overhauls and repairs. "Weare working with America West," Kathryn Creedy, an FAA spokeswoman was quoted as saying. "We have not taken any action against America West yet."

Hartstone sells Spanish interest: British leather goods and accessories company Hartstone Group Plc announced on Tuesday that it was selling its hosiery interests in Spain to New Hosiery Holdings S.A. for around 25.2 million pounds. Hartstone said in a statement that New Hosiery could also buy its Dutch business Ipko-Amcor at net asset value. "The sale will further strengthen Hartstone's overall financial position and will enable the directors to concentrate on Hartstone's leather goods business, Etienne Aigner in the U.S.," the company said.