Amax Inc. said it will lay off...

Amax Inc. said it will lay off 325 employees at its two Colorado molybdenum mines when the mines return to production Sept.3 . . . Textron said it sold its Sprague Meter division to Sangamo Weston, a subsidiary of Schlumberger, for undisclosed terms . . . The American Iron and Steel Institute said steel production in the week ended July 27 totaled 1.63 million tons, down 1.7% from the previous week.