WSJ0375 Deere & Co. said it reached a tentative agreement with the machinists ' union at its Horicon , Wis. , plant , ending a month-old strike by workers at the facility . The maker of farm equipment said the three-year labor agreement with the International Association of Machinists and Aerospace Workers at John Deere Horicon Works , Deere 's primary facility for producing lawn and grounds-care equipment , takes effect immediately and extends through Oct. 1 , 1992 . About 1,150 employees are covered by the new agreement , Deere said . WSJ0376 Courtaulds PLC announced plans to spin off its textiles operations to existing shareholders in a restructuring to boost shareholder value . The British chemical and textile company 's plan , which requires shareholder approval , would create a new , listed U.K. stock with a probable market capitalization between # 300 million -LRB- $ 473 million -RRB- and # 400 million , analysts said . The establishment of the separate company , to be called Courtaulds Textiles , could be effective as early as next year 's first quarter . Investors welcomed the move . Courtaulds ' shares rose 15 pence to 362 pence , valuing the entire company at about # 1.44 billion . Courtaulds ' spinoff reflects pressure on British industry to boost share prices beyond the reach of corporate raiders . Courtaulds ' restructuring is among the largest thus far in Britain , though it is dwarfed by B.A.T Industries PLC 's plans to spin off roughly # 4 billion in assets to help fend off a takeover bid from Anglo-French financier Sir James Goldsmith . The divested Courtaulds textile operations had operating profit of # 50 million on # 980 million in revenue in the year ended March 31 . Some analysts have said Courtaulds ' moves could boost the company 's value by 5 % to 10 % , because the two entities separately will carry a higher price earnings multiple than they did combined . In addition , Courtaulds said the moves are logical because they will allow both the chemicals and textile businesses to focus more closely on core activities . Courtaulds has been under pressure to enhance shareholder value since takeover speculators -- including Australian financier Kerry Packer -- surfaced holding small stakes last year . Though Mr. Packer has since sold his stake , Courtaulds is moving to keep its institutional shareholders happy . Even without a specific takeover threat , Courtaulds is giving shareholders `` choice and value , '' said Julia Blake , an analyst at London stockbrokers Barclays de Zoete Wedd . In a statement , the company said : `` Both parts can only realize their full potential and be appropriately valued by the market if they are separately quoted companies . The sharper definition and the autonomy which each will thereby gain will benefit shareholders , customers and employees . '' Courtaulds Chairman and Chief Executive Sir Christopher Hogg will remain in both posts at the surviving chemical company after the spinoff . WSJ0377 Sanwa Shutter Corp. said its affiliated company in Malaysia , established this April , will begin manufacturing steel doors Wednesday . Its partner in the joint venture is Sin Kean Boon Metal Industries , Penang , Malaysia . Company officials said the new company , Sin Kean Boon-Sanwa -LRB- J.V . -RRB- is capitalized at the equivalent of 54 million yen -LRB- $ 381,000 -RRB- . The Japanese concern has a 40 % stake , while the local partner has a 60 % stake . The new company was created to meet growing demand for steel doors , concurrent with increasing local concern about fire prevention , the company said . WSJ0378 Barbara Hackman Franklin , president of Franklin Associates , was elected a director of this building products maker . Ms. Franklin , 49 years old , fills the position vacated by Naomi G. Albanese , who retired earlier this year at age 72 . WSJ0379 NEC Corp. said it plans to more than double its British subsidiary 's capacity for the production of semiconductor wafers . Officials at the Japanese semiconductor maker said the company intends to increase investment in plant and equipment by 10 billion yen -LRB- $ 70.6 million -RRB- , to 90 billion yen , in the year ending March 31 , with the extra funds used to increase production overseas . Officials said they were n't sure how the money will be distributed among overseas units , but added that NEC Semiconductors U.K. Ltd. will receive priority . Officials also disclosed it 's possible that NEC may reduce domestic production of one-megabit chips to five million a month from six million , beginning January , because of deteriorating market prices . WSJ0380 Japan 's steel exports fell 12.2 % in September from a year earlier and were down 1.1 % from the previous month , the Japan Iron and Steel Federation reported . September was the 10th consecutive month in which steel exports failed to reach the year-earlier level . A federation official attributed the decline to brisk demand from domestic industries backed by continuing economic expansion in Japan . Japanese steel companies are apparently focusing on domestic sales , but the official said it does n't necessarily mean that local sales contracts are increasing that markedly . `` They are just too busy to meet domestic demand and have little room for overseas shipments , '' the official said .