Wednesday, October 8, 2003

Tristate summary

From staff and wire reports

NS Group says third quarter loss wider

Newport's NS Group Inc. late Tuesday said the loss for the just-completed third quarter will be wider than expected.

The maker of pipe for the oil and gas industry said it expects to report a loss of about 14 cents a share for the quarter ended Sept. 30 because of recent market volatility. The consensus estimate among analysts was a loss of 10 cents a share.

The company will report third-quarter results after the stock market closes Oct. 20. NS Group's shares closed Tuesday at $7.09, down 36 cents.

American Financial sweetens payment

American Financial Group Inc. said Tuesday it has amended an agreement with its American Financial Corp. subsidiary, increasing the payment to AFC preferred shareholders to $26 a share from $25 a share.

The offer is part of a plan, announced in April, to simplify the corporate structure of AFG and in effect merge the two corporations. AFC also declared a semiannual dividend of $1 a share on the preferred stock, payable Nov. 1 to shareholders of record Oct. 15.

Think3 Inc. receives $250,000 state grant

Think3 Inc., the product development software provider which has moved its headquarters from Silicon Valley to Cincinnati, has received a $250,000 state business development grant to purchase and install equipment at its new offices in the 312 Walnut Street building.

The company employs about a dozen in Cincinnati but expects an increase to 45 within three years.

Cooper to transfer some work to China

Findlay, Ohio-based Cooper Tire & Rubber Co. will transfer production of a portion of its truck tires from its plant in Albany, Ga., to China. The move will allow Cooper to expand production of performance and specialty light truck tires at the Albany plant.

Hangzhou Zhongce Rubber Co., of Hangzhou, China, will supply Cooper with 250,000 to 350,000 truck tires annually, Cooper said.

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