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Ceradyne Inc. has acquired the patent and intellectual property for a ceramic bearing solution for “down hole” oil drilling with plans to manufacture the product at its facility in Lexington. A key inventor of this new oil drilling bearing, Russell Ide Jr., will be joining Ceradyne as a product manager responsible for bringing the solution into full production for use in the oilfield. California-based Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications.

Keeneland has announced that it will offer a record $5.4 million in stakes purses – one of the richest stakes programs in North America – for its 2008 fall race meeting, to be held Oct. 3-25. The fall meet will feature 19 stakes races, 15 of which are graded.