Stockholders of Amsted Industries approved a previously...

Stockholders of Amsted Industries approved a previously reported leveraged buyout of the company by senior management and an employee trust, the company announced . . . Contel Corp. reported the acquisition by American Satellite Co., a Contel unit, of Western Union’s Government Systems division for about $155 million . . . Bank of America said it has opened a representative office in Guangzhou, China, to serve its worldwide clients and to help further promote U.S.-China economic cooperation in south China . . . After more than two years of planning, the Hong Kong Futures Exchange launched trading in financial futures contracts in the Hang Seng index, the British colony’s main stock indicator.