Intermet, Japan Firm

Sign Iron VentureIntermet Corp., the nation's largest independent manufacturer of iron castings, has signed an agreement with Aisin Takaoaka Ltd. of Tokyo City, Japan, to form a joint venture corporation to manufacture ductile and gray iron castings in the United States.

The new venture, INTAT Precisio Inc., will target sales to Japanese car manufacturers and parts suppliers in the United States.

Intermet will own 60 percent of INTAT, which will be based in Rushville, Ind., while Aisin Takaoaka will own 40 percent. The shareholders agreed to provide $25 million in equity.

New Machinery Orders

Increase 2.2 percent in Japan

TOKYO - Japan's new machinery orders in February totaled 1.39 trillion yen, up 2.2 percent from a month earlier, the Economic Planning Agency said Tuesday.

The growth of 2.2 percent followed a drop of 7.1 percent in January, agency officials said.

Overseas orders surged 26.9 percent to 340.2 billion yen, while those from the nation's public sector declined 1.2 percent to 241.4 billion, they said.

Although the February recovery lacked vigor, the level remains higher in

comparison with that of a year before, the officials said.

Soviets Line Up to Buy

American-Style Pizza

MOSCOW - Soviets lined up Tuesday to buy slices of American-style pizza

from a specially equipped van brought to the Soviet Union as part of a joint economic venture involving a New Jersey company.

The reaction is extraordinary, said Louis Piancone, president of Roma Food Enterprises in Piscataway, N.J., at the van's first day of operation in Moscow's Lenin Hills.

We'll be moving through the city to determine what the market is for opening pizza restaurants. Judging from today at just this location, there's a market, Mr. Piancone said.