Wednesday, December 10, 2003

Tristate Summary


Staff reports

Baxter Precast sold by family

Baxter Precast Inc., Fairfield maker of precast concrete architectural products and barriers, has been acquired by Robert Kelly, who spent more than 20 years in the industrial controls industry. Terms were not disclosed.

P&G leads nation in advertising use

Spurred by its rollout of Prilosec OTC and acquisitions, Procter & Gamble Co.'s U.S. advertising increased 30.4 percent to $1.97 billion for the nine months ended Sept. 30, according to market-tracker TNS Media Intelligence. That placed it No. 1 among U.S. advertisers, ahead of General Motors Corp., Time Warner Inc., Daimler Chrysler AG and Ford Motor Co.

Cintech Solutions sale OK'd by court

After a day's delay, a Cincinnati businessman Tuesday acquired the assets of Cintech Solutions Inc., Blue Ash developer of call-center software. Dave Schmitt, owner of Armor Metal Group Inc., a Sharonville company that includes Cincinnati Industrial Machinery Co., completed the bankruptcy-supervised purchase Tuesday. A bankruptcy court hearing to approve the sale was postponed from Monday. Schmitt plans to continue operating the company.

CLARIFICATION

Motives clarified about real estate

A comment by Fred Cummings of McDonald Investments in a Sunday Business story on banking in the region might have been unclear. Cummings said some of the Tristate's largest banks might have cut back on financing commercial real-estate projects because they might believe there isn't enough demand to support the projects, based on the local vacancy rate.



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