Europe adopts banana rules

        The European Commission formally adopted banana import rules Wednesday that should mean more European sales for Cincinnati's Chiquita Brands International Inc.

        The rules were part of a settlement between the United States and Europe announced in April. The European Union will institute the rules July 1, and the United States will drop almost $200 million in sanctions against European products. The new system will allow more bananas from Latin American farms operated by big companies such as Chiquita and Dole Food Co.

Kroger restates '98, '99, '00 results

        Kroger Co. filed with the Securities and Exchange Commission its restated results for fiscal 1998, 1999 and 2000, including an unqualified audit opinion from PricewaterhouseCoopers LLP.

        The company said March 5 it would restate results because of certain accounting practices at Ralphs Grocery Co. that Kroger said had been hidden from auditors and senior management. Ralphs is a unit of Fred Meyer Inc., which Kroger acquired in 1999.

        Kroger filed the restated results March 21 with the SEC, but didn't vouch for the reliability of the earnings statements.

        Kroger said the restated results submitted Wednesday to the SEC are unchanged from the earlier filing.
       

Jobs promised for tax breaks

        Up to 150 jobs would be created by manufacturing expansions in Warren and Clermont counties receiving tax abatements this week from the Ohio Tax Credit Authority.

        Ellis & Watts Inc., Union Township, Clermont County, manufacturer of mobile vans for the medical and energy markets, received a 60 percent, seven-year tax credit for a $1.1 million expansion expected to add 100 jobs. The plant now employs 312.

        Hi-Tech Manufacturing Inc., a Mason maker of custom tooling and fixtures, received a 55 percent tax abatement for eight years for a $2.17 million investment expected to add 50 jobs. The company employs 137.
       — From staff and wire reports

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