Business Briefs: Pacific Energy Partners, Northrop, Pyramid Biological

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– Pacific Energy Partners L.P.

received the regulatory approvals needed for its $455 million acquisition of certain Valero L.P. terminal and pipeline assets. Long Beach-based Pacific Energy said it has received approvals from the Federal Trade Commission, the California Attorney General, the Colorado Public Utilities Commission and the Wyoming Public Service Commission. The acquisition is scheduled to close on Sept. 30. On July 5, it said it entered into a definitive agreement to buy the Valero assets, including two California terminals handling refined products and crude oil, three East Coast refined products terminals, and a refined products pipeline with truck terminals and storage in the Rocky Mountains.



– Northrop Grumman Corp.

was awarded a four-year, $125 million contract by the U.S. Marine Corps to provide a ground-based radar that consolidates four different radar areas into one. The first increment of the system design and development phase is $7.9 million.


The Humvee-mounted Ground-Air Task Oriented Radar uses new technology to provide aircraft and cruise-missile detection, tracking, ground-weapon location and military air traffic control. L.A.-based Northrop’s Electronic Systems unit will be the lead contractor in a team including Sensis Corp., CEA Technologies Inc., Techrizon and CAT Logistics.





Life Therapeutics signed a binding agreement to acquire

Pyramid Biological Corp.

, a Van Nuys-based privately held supplier of plasma and biological products, for $13 million plus the assumption of $7 million in debt. Atlanta-based Life Therapeutics said in a statement that the combined company will now have 13 plasma collection centers in eight states with nearly 450 employees. Pyramid, which has 225 employees, reported revenues of approximately $20 million in 2004. Life Therapeutics said the acquisition will result in a significant increase in next year’s sales and profits, as well as substantial cost savings brought about by the integration of Pyramid.

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