BUSINESS BRIEFS
Hoku Scientific, Sanyo team up
Advertiser Staff and News Services
Sanyo Electric Co. has agreed to test Hoku Scientific Inc.'s fuel cell components at Sanyo's research and development facility in Japan, Hoku Scientific said yesterday.
In March 2003, Hoku Scientific and Sanyo entered into a contract to jointly develop a membrane electrode assembly process using Hoku membranes in Sanyo's fuel cell systems.
The latest agreement will allow Sanyo to evaluate newer versions of Hoku Scientific's products and formalizes the next step in integrating Hoku membranes into Sanyo's fuel cells.
Hoku shares yesterday closed down 43 cents at $8.13 on the Nasdaq market.
UH PARTNERSHIP EFFORTS PRAISED
The University of Hawai'i-Manoa's Pacific Business Center Program has received a national Excellence in Partnership Development Award for helping Oils of Aloha form a partnership with a company in East Timor to develop a candlenut processing facility in the Southeast Asian nation.
The PBCP, working with a German international development agency, helped Oils of Aloha sign a deal with Acelda Co., a Timorese candlenut exporter. Oils of Aloha manufactures candlenut, or kukui nut, oil for use in skin and hair-care products.
TOYOTA DRIVEN TO BECOME NO. 1
Toyota Motor Corp. said it intends to produce 9.06 million vehicles next year, a level that would surpass the expected output of long-time leader General Motors Corp. for the first time. GM doesn't make similar predictions, but industry consultant CSM Worldwide forecast that GM would make 8.92 million vehicles next year.
POWER PLAYER SEEKS PROTECTION
SAN FRANCISCO — Struggling power generator Calpine Corp. filed for Chapter 11 bankruptcy protection late yesterday as it grapples with more than $22 billion in debt.
The filing in U.S. Bankruptcy Court in New York will allow Calpine to continue normal operations at its power plants and facilities in the United States, Mexico and Canada, the company said. Calpine supplies electricity in 21 states and has steam and gas-fired plants nationwide.
Calpine, based in San Jose, has lost $926 million since the end of 2003.
