Ohio Business News In Brief
UPI
Ohio Business News In Brief
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(CLEVELAND)-Lamson and Sessions in Cleveland says Robert Moyer has
been elected a corporate vice president, but will continue his duties
vice president of supply chain management. Lamson and Sessions is a
producer of thermoplastic enclosures, fittings, conduit and pipe, and
wiring devices.
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(AKRON)-Shareholders of Roadway Express Incorporated in Akron have
re-elected all nominees proposed for election to the company's board of
directors. They are: Robert Mercer, Frank Doyle, Dale Frey, Phillip
Meek, Carl Schafer, Sarah Roush Werner and Michael Wickham. William
Sword, who has served as a Roadway Express director since 1977, has
retired. The board of directors elected Wickham to serve as its chairman
and chief executive officer of the company. James Staley has been
elected to succeed Wickham as President.
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(COLUMBUS)-Sterling Commerce in Cleveland says it will sponsor the
Electronics Industry Data Exchange Association's spring conference... to
be held April 27th through April 30th in Nashville. The meeting serves
as a forum for electronic commerce and information exchange within the
electronics industry. The four-day conference will feature special
presentations addressing such topics as E-D-I basics, financial E-D-I
and supply chain management.
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(DAYTON)-The directors of the Miami Computer Supply Corporation in
Dayton have declared a three-for-two split of the company's common
shares. Miami Computer's president, Michael Peppel, says the action
reflects confidence in the future growth and performance of the company.
Each shareholder of record at the close of business April 10th will
receive one additional share of common stock for each two shares of
stock held on that date. The new shares will be distributed on or about
April 24th. Miami Computer is an end-user distributor of computer and
office automation supplies and accessories.
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(CANTON)-The Timken Company says it has named three associates to new
positions. James Gresh becomes vice president of bearings, financial
operations and controller... Mark Samolczyk becomes vice president and
general manager of precision steel components... and Michael Arnold will
become vice president of bearings for process advancement. Timken is an
international manufacturer of highly engineered bearings and alloy
steels, employing 21-thousand people with 1997 sales of more than two-
point-six billion dollars.
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(FRANKFORT)-Bosch Braking Systems says the Ross County Community
Improvement Corporation has agreed to purchase Bosch's Frankfort, Ohio,
facility. The purchase will permit Ross County to explore creative ways
to arket the 200-thousand square-foot facility and bolster the county's
tax base. Terms of the sale were not disclosed. Bosch designs and
produces precision automotive components and systems for vehicle and
powertrain manufacturers in the United States and abroad.
oh-briefs-business
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UPI
Ohio Business News In Brief
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(CLEVELAND)-Florida-based Shells Seafood Restaurants Incorporated
says it has opened its 10th Ohio restaurant... in Lyndhurst, a Cleveland
suburb. Shells now has two locations in the Cleveland area... five in
Cincinnati... two in Columbus... and one in Akron. Shells currently has
more than 26-hundred employees in Ohio, Florida and Kentucky. The
company manages and operates 41 full service, mid-priced, casual dining
seafood restaurants.
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(DAYTON)-The Standard Register Company in Dayton says it has named
Michael Spalding as its manager for corporate purchasing. Standard
Register employs about 96-hundred people across the nation, with 71
production facilities and more than 300 sales offices.
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(MAYFIELD HEIGHTS)-Chart Industries Incorporated in Mayfield Heights
says it has completed the acquisition of the Industrial Heat Exchanger
division of I-M-I Marston Limited. Chart Marston Limited... a wholly
owned Chart subsidiary located in the United Kingdom that was formed for
the purposes of the acquisition... paid slightly more than 35 million
dollars for the company's assets. Chart manufactures standard and
custom-built industrial process equipment... primarily for low-
temperature and cryogenic applications.
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(CINCINNATI)-The Specialty Equipment Market Association... SEMA...
says it will produce a new trade show today: the SEMA Performance Show.
Co-sponsored by the Motorsports Parts Manufacturing Council, the show
will bring together all aspects of the performance market... imports and
trucks, muscle cars and street rods. The inaugural SEMA Performance Show
will be held at the Cincinnati Convention Center February 19th, next
year.
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(TOLEDO)-The Toledo-based Dana Corporation's Perfect Circle Sealed
Power Division is the first supplier approved by Tritec Motors Limited.
Tritec is a new joint venture between Chrysler and BMW. Perfect Circle
will supply piston rings kits engines to be produced in Brazil.
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(PITTSBURGH)-The National City Corporation says its stockholders have
approved the merger of the First of America Bank Corporation into
National City. First of America, based in Michigan, is a 21-billion-
dollar bank holding company operating in Michigan, Illinois and Indiana.
National City is a 55-billion-dollar diversified financial services
company headquartered in Cleveland.
UPI
Ohio Business News In Brief
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(MEDINA)-Medina-headquartered R-P-M Incorporated says it is acquiring
the Oakland, California-based Flecto Company Incorporated for an
undisclosed amount. Flecto is a manufacturer of wood finishes and wood
finishing equipment for the retail do-it-yourself wood and floor
finishing markets. Flecto has annual sales of about 50-million dollars.
R-P-M produces industrial coatings, sealants and adhesives for
waterproofing, general maintenance, corrosion control and other
specialty chemical applications.
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(CINCINNATI)-Duramed Pharmaceuticals Incorporated says it has
submitted its first New Drug Application to the Food and Drug
Administration for its synthetic conjugated estrogens product. Duramed,
in February, announced the successful completion of a multi-center,
double-blind placebo-controlled trial to evaluate the drug. The new
product is used in the treatment of postmenopausal vasomotor symptoms in
women. Duramed Pharmaceuticals develops, manufactures and markets
prescription drug products.
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(BEACHWOOD)-Beachwood-based Fix-Corp International Incorporated will
hold its annual Shareholders Meeting will at eight a.m. Wednesday, April
22nd. Fix-Corp International is the holding company for the wholly owned
subsidiaries; Fixcor Industries... Pallet Technology Incorporated... and
Poly Style Industries Incorporated.
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(CLEVELAND)-KeyCorp in Cleveland says James Bennett has been named
senior executive vice president for marketing and strategic management..
. effective May first. Bennett most recently was a director of McKinsey
and Company Incorporated... a management consulting firm.
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(WOOSTER)-Fort Edward, New York-based Decora Industries Incorporated
says it has agreed to purchase the assets of Rubbermaid Incorporated's
Decorative Coverings Group... consisting primarily of Con-Tact brand
self-adhesive consumer decorative coverings line. Last year the
Rubbermaid group had annual sales of 70-million dollars. The transaction
is due to close during April. Decora Industries develops, produces and
sells consumer decorative products and pressure-sensitive, self-
adhesive, coatings.
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(CLEVELAND)-Medical Mutual of Ohio in Cleveland says it has awarded a
three-year contract to Merck-Medco Managed Care, The contract allows
Merck-Medco to administer Medical Mutual's prescription drug benefit
plans and work in partnership to implement a wide variety of
prescription and health management programs. Medical Mutual, founded in
1934, is the oldest and largest health insurance company based in Ohio.
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(DELAWARE)-The Greif Brothers Corporation in Delaware says it has
completed its acquisition of the industrial container business of the
Sonoco Products Company. In addition, Greif entered into an agreement
with Sonoco to acquire its intermediate bulk container business. Those
businesses had combined 1997 sales of about 210-million dollars. The
purchase price for the businesses is approximately 225-million dollars
in cash. Greif manufactures and markets a variety of industrial
packaging and components.
UPI
Ohio Business News In Brief
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(CLEVELAND)-The Parker Hannifin Corporation has acquired the assets
of Temeto A-B for an undisclosed amount of cash. Temeto is a distributor
of hydraulic components located in Flen, Sweden, near Stockholm. Temeto
had 1997 sales of about 14-/million dollars. Parker Hannifin,
headquartered in Cleveland, produces motion and control components for
industrial and aerospace markets, with 1997 sales of more than four-
billion dollars.
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(ACROSS OHIO)-Ohio Development Department officials say they are now
recruiting Ohio firms interested in participating in ``Mexican
Manufacturing Week '98''... an international trade show in Mexico City.
The June 17th through June 19th trip is expected to attract more than
12-thousand-500 Mexican manufacturing representatives. In 1996, Mexico
was Ohio's sixth largest export destination.
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(CLEVELAND)-Century Business Services Incorporated in Cleveland has
announced agreements to acquire four companies... Chicago-based National
Hospital and Health Care Services... Dallas-based Business Valuation
Services... Manhattan, Kansas-headquartered Varney and Associates... and
Pension Administration Services of Philadelphia. Century Business says
the combined revenue of the proposed new acquisitions will add more than
20-million dollars to its annualized revenue. Century provides
outsourced business services to small and medium sized companies across
the nation.
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(AVON LAKE)-The Geon Company in Avon Lake says Denis Belzile has been
appointed to the newly created position of general manager of specialty
dispersion resins. Geon is one of the largest suppliers of PVC resins in
North America... and the world's largest merchant provider of PVC
compounds.
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(CLEVELAND)-The National City Corporation says it's completed its
merger with the First of America Bank Corporation... creating the 13th
largest banking organization in the nation in terms of total assets.
National City is now a 79-billion-dollar-asset bank holding company.
First of America was a 21-billion-dollar asset bank holding company
headquartered in Kalamazoo, Michigan. National City now serves more than
eight million households in six states.
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(CINCINNATI)-The Procter and Gamble Company in Cincinnati has reached
agreement with Empresas C-M-P-C in Chile to acquire ownership of the
joint venture the companies operate in Argentina and Chile called
Prosan. The joint venture was formed six years ago to market disposable
diapers and feminine pads in Chile, Argentina, Paraguay, Uruguay and
Bolivia under the brands Babysan and Ladysan. Each partner had a 50
percent ownership position.
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(CLEVELAND)-Figgie International in Cleveland says Steven Siemborski
has resigned as the company's chief financial officer and a member of
its board of directors. Siemborski is returning to Ernst and Young as a
partner and director of its consulting practice in Cleveland, Pittsburgh
and Detroit. Figgie makes high-performance respiratory systems and
equipment for aviation, industrial, firefighting and government markets.
It also designs and produces satellite-based guidance, navigation and
instrumentation systems for defense and commercial sectors.
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(CLEVELAND)-Pioneer-Standard Electronics Incorporated says it has
completed its acquisition of Dickens Data Systems, of Roswell, Georgia.
The purchase price was approximately 121-million dollars. Dickens is one
of the largest North American distributors of IBM mid-range products,
with 1997 revenues of about 347-million dollars. Dickens Data will be
operated as a business unit of Pioneer-Standard Incorporated, with
Gordon Dickens serving as president. Pioneer-Standard, based in
Cleveland, distributes industrial electronic components and computer
products.
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(TOLEDO)-The Owens Corning Corporation in Toledo says it has
completed the sale of its interest in the Alpha/Owens Corning L-L-C
joint venture... a manufacturer and marketer of unsaturated polyester
and vinylester resins. The company's interest was sold to the joint
venture's other partner... the Alpha Corporation. Terms were not
disclosed.
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(CLEVELAND)-The Eaton Corporation in Cleveland has finalized the
previously announced sale of its automotive leaf spring business to
Oxford Automotive Incorporated of Troy, Michigan. Eaton announced on
March 16th its intent to sell the business to Oxford for an undisclosed
amount of cash. With 1997 sales to the automotive industry approaching
two-billion dollars, Eaton is a major supplier of components and
controls to global original equipment manufacturers.
UPI
Ohio Business News In Brief
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(AKRON)-Market Responsive Energy Incorporated... a non-regulated
subsidiary of the FirstEnergy Corporation... says it has changed its
name to FirstEnergy Trading and Power Marketing Incorporated. Based in
Independence, the company is a full service marketer of electricity and
energy-related services... offering standard and customized bundled
energy and risk management/financial products. FirstEnergy Corporation,
headquartered in Akron, is the nation's 12th largest investor-owned
electric utility system.
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(CLEVELAND)-The Parker Hannifin Corporation says it has acquired
Sempress Pneumatics, located near Rotterdam, the Netherlands. Sempress..
. with 1997 sales of 17-million dollars... produces pneumatic cylinders
and valves for specialized customer applications in automation
processes. The cash-purchase price was not disclosed. Sempress will
become part of Parker's Automation Group. Parker Hannifin produces
motion and control components for hundreds of industrial and aerospace
markets, with 1997 sales of more than four-billion dollars.
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(CLEVELAND)-The Dallas-based Suiza Foods Corporation says it has
completed it acquisition of Oberlin Farms Dairy Incorporated... a
Cleveland-headquartered processor of milk and cultured dairy products.
Oberlin Farms had 1997 sales of approximately 76-million dollars. Suiza
has positions in the dairy, consumer goods plastic packaging and
packaged ice industries.
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(CINCINNATI)-The Chemed Corporation in Cincinnati says its wholly
owned Roto-Rooter Services Company subsidiary has acquired the stock of
Catons' Plumbing, Heating and Air Conditioning... based in Baltimore,
Maryland. Roto-Rooter has also acquired the assets of Danco Heating,
Plumbing and Air Conditioning, based in San Antonio, Texas. The purchase
prices were not disclosed.
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(CANTON)-Three Timken Company executives in canton have been named to
new positions within the company's North American Industrial and Super
Precision bearings group. Roger Knudsen becomes vice president of sales
and marketing for industrial bearings... Michael Hill assumes the post
of general manager of industrial bearing operations... and Thomas
Hillmer becomes general manager of industrial bearing re-manufacturing.
The Timken Company is an international manufacturer of highly engineered
bearings and alloy steels with 1997 sales of nearly three-billion
dollars.