East Bay Biz Buzz: Chevron, Pandora, Lam Research, Avogadro Group, Impax, Central Garden & Pet

Chevron sells mineral leases in Alabama

A unit of San Ramon-based Chevron has struck a deal to sellmineral leases in Alabama to Florida-based Walter Energy. Chevronand Walter say the mineral leases pertain to 75 million tons ofcoking coal reserves in the Blue Creek area of Alabama. The deal ispart of Walter's plan to develop an underground coking coal mine inthe region. Chevron Mining also agreed to sell to Walter a steamcoal mine in Alabama.

Pandora adds comedy clips

Oakland-based Pandora Media, which provides an Internet radioservice, now offers comedy clips in its archives. Pandora has added10,000 clips by more than 700 comedians to its service. The companyalready allows customers to stream free music based on feedback fromthe listener. In February, Pandora filed for an initial publicoffering for up to $100 million of its stock.

Fremont's Lam Research looks to raise $700 million

Fremont-based Lam Research is seeking to raise $700 million fromthe sale of convertible senior notes. The semiconductor equipmentmaker will issue the notes in two parts of $350 million each. Thefirst group of notes is due in May 2016. The second is due in May2018. Lam intends to use the proceeds to buy back between 1 millionand 3 million shares of its common stock and for other purposes.

Avogadro Group opens Arizona office

Antioch-based The Avogadro Group has opened an Arizona office toserve Southern Nevada, Southern California, Utah, New Mexico,Colorado and Arizona. The company measures air pollution andemissions and the Phoenix office will be able to deploy a mobilelaboratory for use at job sites.

Impax sued by Johnson & Johnson

Hayward-based Impax Laboratories said Johnson & Johnson unit Alzahas filed a patent infringement lawsuit in an attempt to block Impaxfrom developing a generic version of Alza's treatment for attentiondeficit hyperactivity disorder.

Sales up at Central Garden & Pet

Walnut Creek-based Central Garden & Pet earned $31.8 million onsales of $485.7 million for its first quarter of fiscal 2011 thatended March 26. Compared with the year-ago quarter, profit was up0.5 percent and sales rose 9.9 percent. "We are especially pleasedwith the strong growth demonstrated by our Garden business thisquarter," CEO Bill Brown said. However, in a sign of inflation, theresults were impacted by rising prices of raw materials for bothgarden and pet products.

Compiled from staff and wire reports.

Got Bay Area business news? Reach Drew Voros at 925-943-8099 ordvoros@bayareanewsgroup.com.