TRADE BRIEFS

TRADE BRIEFS

SINGAPORE BUYS STAKE

IN LEVITZ FURNITURE

WASHINGTON - The government of Singapore said Tuesday it has purchased a 6.5 percent stake in Levitz Furniture Inc., the largest U.S. retailer of home furniture.

In a filing with the Securities and Exchange Commission, Singapore said it paid $23.3 million for the stake in the Baton Rouge, Fla.,company.

According to the filing, the shares were purchased between July 2 and July 7 at prices ranging from $11.50 to $14.00 a share.

CADBURY GETS A TASTE

FOR CHINESE MARKET

BEIJING - British confectionery giant Cadbury Schweppes announced plans Tuesday to turn China into a nation of chocolate-eaters with a joint-venture plant in Beijing and products tailored to the local market.

The firm displayed the range of products it will launch in the next few weeks, with traditional packaging and English lettering and the Chinese name less prominent.

At first the products will be imported. Later a factory will be built in a southern suburb of Beijing.