From staff reports

Cinergy unit to run P&G power plant

Cinergy Solutions, a unit of Cinergy Corp., Tuesday said it signed a 20-year agreement to operate the power plant at Procter & Gamble Co.'s St. Bernard plant.

Financial details of the agreement weren't disclosed. The agreement is part of P&G's previously announced plan to outsource manufacturing operations at its historic Ivorydale complex. Cinergy will provide operation and maintenance of the combined steam and electric plant, electric infrastructure, water, sewer and steam distribution system.

Cinergy said it would upgrade or replace parts of the system.

Chiquita sells L.A. produce company

Chiquita Brands International Inc. has sold Progressive Produce Corp., a Los Angeles produce company, to a management-led buyout group for $7 million. The sale will reduce Chiquita's annual sales by about $70 million and its operating earnings by about $1 million. It will take a $2 million first-quarter gain on the sale. The move continues Chiquita's program to reduce debt and focus on core businesses.