Also . . .

* Colt’s Manufacturing Co. said it is trying to buy European gun maker Heckler & Koch in a deal that would strengthen its position for military contracts. John Rigas, a partner in a New York investment firm that controls Colt’s, said the group has signed a letter of intent to acquire the German small-arms manufacturer from Royal Ordnance, a division of British Aerospace. The deal would cost Colt’s about $100 million and would be expected to be completed next year. Colt’s makes those types of weapons and has substantial back orders from the Pentagon, he said. The deal would require approval from the U.S. Defense and State departments.

* Special Metals Corp., the world’s biggest producer of high-performance nickel-based alloys, said it will have a “significant” fourth-quarter loss. The company didn’t disclose the size of the loss, which it attributed to depressed markets, rising nickel costs and equipment problems. It lost $5.2 million, or 40 cents a share, a year earlier and had losses in this year’s first three quarters.

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