NEW YORK ? ., which makes Schlage locks and Thermo King temperature-control equipment, bought the remaining 25 percent interest in Superay International Ltd. to expand in China. Terms weren't disclosed.

Superay's production has tripled and employment has climbed to 425 from 275 since Bermuda-registered Ingersoll-Rand bought its first interest in the Changzhou, China-based company in May 2002. Superay will be renamed Ingersoll-Rand (Changzhou) Co. Ltd., according to a statement. Superay makes air-powered ratchet wrenches, drills and sanders.

NEW YORK ? Bermuda-based ., a shipper of commodities including coal, iron ore and grain, agreed to buy three Panamax dry-bulk carriers for $118 million to increase capacity to contract vessels for a year or more.

The first ship is to be delivered in late April, the second in early May, and the third in early July, the company said.

Proceeds from a March 16 stock sale that raised $123.8 million will be used for the purchase, Excel Maritime said.

MOSCOW ? is seeking $100 million from investors to buy shares in Russian power companies through Bermuda Stock Exchange-listed mutual funds as the state breaks up national utility RAO Unified Energy System to attract funds to upgrade Soviet-era generators and power lines.

Renaissance has sold $20 million and aims to raise the rest in the next three months, said Oleg Jelezko, Renaissance's head of equity derivative products.

Russian President Vladimir Putin is breaking up the country's power industry, the world's biggest by capacity, to attract as much as $50 billion needed to upgrade UES's equipment.

Renaissance is selling shares in RenNet Ltd., which will invest in companies that get most of their revenue from electricity distribution. The bank is also selling shares in RenGen Ltd., which will invest in companies that focus on producing power and heat.

NEW YORK ? plan to exit bankruptcy values its new common stock at up to $27 a share, or roughly 150 times today's value of its current stock, court papers show.

Bermuda-registered Loral, the third-largest US satellite maker, would issue 20 million new shares of common stock and cancel existing shares under the plan. The company's unsecured creditors would get 80 percent of the stock.

Loral last week filed a plan to exit bankruptcy that would fully repay vendors such as Alcatel SA in cash and give shareholders nothing. A group of shareholders opposes the plan, saying it undervalues the company.

repurchased 20,000 of its own shares on February 23 at a price of $3 per share for cancellation. The announcement was made on the Bermuda Stock Exchange website.