Tuesday, July 09, 2002

Tristate Summary


Judge throws out AK Steel complaint

Enquirer staff and news services

        A federal judge has thrown out AK Steel Corp.'s complaint that French competitor Usinor S.A., tried to monopolize the market for steel products used for automotive exhaust equipment.

        AK Steel spokesman Alan McCoy said Monday that the company is examining the ruling before deciding how to proceed.

        Usinor responded that AK Steel failed to support its antitrust complaint. U.S. District Judge Sandra Beckwith agreed.

        In her ruling last week, Judge Beckwith allowed AK Steel to continue with other accusations in its lawsuit. Those include claims that Usinor and its affiliated companies sell stainless steel at below-cost prices to drive AK Steel out of the market, and that Usinor and the others have induced at least five customers since mid-2000 to break agreements to buy stainless steel from AK Steel.

       

Cinergy files to sell securities

               Cincinnati's Cinergy Corp. filed with the Securities and Exchange Commission to sell as much as $175 million of securities.

        The S-3 filing allows the company to register the securities in advance and sell them when financing needs arise or when market conditions are favorable. The company said the securities could be in the form of debt securities, mortgage bonds and preferred stock.

       

Two centers get $185K grants

               Bio/Start, the Cincinnati medical products incubator, and the Hamilton County Business Center each received $185,000 grants from Ohio's Thomas Edison program, which supports technology-based startup businesses.

        The money for both centers is to support their operations through Sept. 30, 2003.

       



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