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Wednesday, June 05, 2002

Tristate Summary


Manufacturer liquidating assets

        Cincinnati Gear Co., the almost 100-year-old Mariemont manufacturer that became a casualty of the Enron Corp. collapse, ceased operations last week and is liquidating assets to pay creditors.

        Since terminating most of its 200 workers in March, the company kept a small staff to finish work, said Louis F. Solimine of the law firm Thompson Hine LLP, which is handling the liquidation.

        The recession, a contract with a subsidiary of bankrupt Enron Corp. and a decline in government contracts contributed to the company's demise, Mr. Solimine said.

        He said the plant is for sale, and an equipment auction is planned. Provident Bank is the company's largest creditor.
       

Kroger expands its Texas market

        Cincinnati's Kroger Co. agreed to buy seven supermarkets in the Dallas area from Winn-Dixie Stores Inc. as the biggest U.S. grocer expands in Texas. Terms weren't disclosed.

        Kroger has opened two stores in Dallas this year and plans three more by the end of the year, the company said.

        The purchase will bring the number of Kroger stores in Texas to 202, making it the company's largest market after California, spokesman Gary Rhodes said.
       

Wal-Mart exec on Cintas board

        Paul R. Carter, executive vice president of Wal-Mart Stores Inc. and president of its real estate subsidiary, has joined the board of directors of Cintas Corp., the Mason uniform supplier.

— From staff and wire reports

       



Associates, kin burned in Erpenbeck scheme
Area a big winner in '90s prosperity
Tourism bureaus join forces for summer campaign
Investing game puts stock in learning
Andersen defense rests case
Long-awaited development now going up in Carthage
Tyco tycoon charged with tax evasion
Industry notes: Banking
- Tristate Summary
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