Tuesday, May 29, 2001
Tristate Summary
Cooper Tire sales up 10% in April
Findlay, Ohio-based Cooper Tire & Rubber Co., the No. 2 U.S. tire maker, plans to increase production of Cooper and Mastercraft brands for light trucks and sport-utility vehicles after sales of those tires rose more than 10 percent in April.
Demand for the Cooper brands began rising Ford and Bridgestone-Firestone Inc. severed their almost-century-old ties, the company said.
Convergys enters deal with AT&T
Cincinnati-based Convergys Corp. has signed a two-year contract with AT&T Wireless Group Corp. to provide integrated contact center services for AT&T Digital Broadband service.
Convergys said its integrated contact centers combine Web-based customer service with phone, fax, mail and integrated voice response.
Kroger Co. files to sell securities
Kroger Co. filed with the Securities and Exchange Commission to sell as much as $1.5 billion of securities.
The Cincinnati-based operator of supermarkets and convenience stores could sell debt securities and preferred and common stock under the shelf registration filed with the SEC. The company could also sell warrants.
Kroger will use the proceeds to repay bank debt and other borrowings and to meet general corporate requirements.
CNS can use Vicks brand name
CNS Inc., a Minneapolis-based company that makes consumer health-care products,last week said it expanded an international licensing agreement with Procter & Gamble Co. The deal will allow CNS to use the Vicks brand name in selling its Breathe Right nasal strips in some European, Latin American, Asian and African markets.
New president for Merex Media
Jack L. Klinger, an Anderson Township resident, has replaced John R. Elliot as president of Merex Media Marketing, formerly a West Chester marketing communications firm.
The company, founded in 1998, will focus on writing and editing of advertisements for radio, television and publications, and on consulting and public relations.
Big Lots meets earnings forecast
Columbus-based Big Lots Inc., the closeout retailer formerly known as Consolidated Stores Corp., broke even in the first quarter, matching analysts' estimates.
The operator of 1,300 stores selling steeply discounted name- brand merchandise earned $298,000, or break-even on a per-share basis, the company said in a news release. Break-even was the average estimate of eight analysts polled by First Call/Thomson Financial.
From staff and wire reports
GM will make bid for Daewoo
Ford faces tough questions over tire recall
Remington man dies
Biotech firm leads revolution
Fight brews over trade fines
Morning Memo
Tristate Summary