Business

Briefs: Great Lakes buys two new dredges

Posted October 25, 2007 11:00 pm

OAK BROOK -- The largest provider of dredging services in the United States and a major provider of commercial demolition services, Great Lakes Dredge & Dock Corp., this week announced it has agreed to purchase dredging equipment from Brazil-based Dragaport Ltd. for about $25 million. The two 5600-cubic-meter hopper dredges will be reflagged under Marshall Island law and deployed to the Middle East.

Shareholders OK Sara Lee incentives

OAKBROOK TERRACE -- At its annual meeting in Oakbrook Terrace, Sara Lee Corp. stockholders elected nine incumbent directors and one new nominee, Principal International head Norman Sorensen. Stockholders also approved a performance-based incentive plan. Stockholders rejected a proposal requesting an advisory stockholder vote on Sara Lee's executive compensation.

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