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* California Center Bank said it called off plans to be acquired by Hanmi Financial Corp., another Los Angeles bank that focuses on lending to Asian-owned businesses. The company said its board decided to terminate the letter of intent entered into with Hanmi on May 3 because Hanmi had “materially modified” the proposal. California Center Bank also reiterated its financial projections for 2001.
* Aluminum maker Alcoa Inc. said it will shut down a magnesium smelter in Addy, Wash., and eliminate 300 jobs because of high production costs and unfavorable market conditions.
* Thomasville Furniture Industries Inc. plans to eliminate about 539 jobs, about 7.5% of its total work force, and close one plant amid a continuing slump in home-furnishings sales.
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