Saturday, September 25, 1999
TRISATE SUMMARY
Ashland would sell parts of Superfos
Covington-based Ashland Inc., the largest U.S. highway contractor, Friday said it will sell the chemicals and packaging divisions of Denmark's Superfos A/S and keep the U.S. highway construction division if it acquires Superfos.
Ashland said it agreed to sell the two divisions of Superfos not related to highway construction to Industri Kapital, a private equity fund, for an undisclosed amount. The sale is conditional on Ashland acquiring Superfos.
Ashland earlier this week raised its acquisition offer for Superfos by 6.5 percent, and the Danish company's board will make a recommendation Sunday. The bid is supported by the chairman and deputy chairman of Superfos.
Superfos has a growing U.S. highway-construction division.
Tax credits sought by county businesses
About 160 jobs would be created by business expansions in Hamilton County that are to be reviewed Monday by the Ohio Department of Development's Job Creation Tax Credit Authority.
• Meyer Tool Inc., a Camp Washington company that does machining for the aerospace industry, is seeking a 55 percent, seven-year tax credit for a $1.3 million expansion. The 7,000-square-foot expansion would add 40 jobs to the 348 at Meyer.
• Moellering Industries Inc. is seeking a 55 percent, nine-year tax credit to build a 150,000-square-foot plant in Cincinnati. The $4.6 million project would replace two smaller plants it operates on West Seventh and West York streets. The project would create 35 jobs and retain 75 at the company, which makes marble and laminated vanity countertops and cabinets.
• C.J. Krehbiel Co. is seeking a 60 percent credit for seven years for an $11.6 million expansion of its printing plant in Fairfax. The project would add 44 jobs to Krehbiel's 210.
• Crown Paper Co. is seeking a 60 percent, nine-year tax credit for its new corporate office in Blue Ash. The company, which now employs 18 in Blue Ash, is moving its corporate office from Oakland, Calif., increasing employment to 40.
GE Engine partnership lands $70M contract
GE-IAI Aviation Services International, a partnership of GE Engine Services and the Bedek Aviation Group of Israel Aircraft Industries Ltd., has won an aircraft-engine maintenance agreement valued at more than $70 million.
The joint venture will maintain two GE CF6-powered McDonnell Douglas DC-10-30 aircraft operated by Translux Cargo Lion. The engine work will be done at GE Engine Services' Prestwick, Scotland, repair shop.
Ky. hospitals part of health network sale
A definitive agreement has been signed for Bon Secours Health System of Maryland to buy the St. Francis Health System in Greenville, S.C., and hospitals in Kentucky and two other states.
The agreement signed Thursday calls for Bon Secours to assume control of Franciscan Health Partnership hospital systems in Greenville and in Kentucky, New Jersey and New York. The hospitals include Our Lady of Bellefonte Hospital in Russell, Ky., near Ashland.
Bon Secours of Marriottsville, Md., expects to pay $242 million for the St. Francis System, the Greenville News reported Friday. The purchase gives Bon Secours, a Catholic, not-for-profit operation, ownership of two dozen acute care operations.
P&G suing vitamin makers
Country's decline was behind Coyote's slide
Fairfield company's shares fall steeply
Western Hills Sears to open
TRISATE SUMMARY
TRISTATE MARKET SPOTLIGHT
PEOPLE ON THE MOVE
