Tuesday, December 30, 2003

IHI, GE team for Chinese engines

Tristate summary

Staff reports

Japanese machinery maker Ishikawajima-Harima Heavy Industries Co. is teaming with GE Aircraft Engines to develop engines for the ARJ21, the new Chinese regional jet. IHI said it expects revenues of just under $1 billion in the next 20 years from its 30 percent stake in engine development for the 70-90 seat Chinese jet. IHI said it will be responsible for low-pressure turbines and high-pressure compressor parts for the engine. Evendale-based GEAE signed an agreement in November to develop a version of its CF34 engine for the Chinese aircraft. GEAE anticipates a market for about 500 aircraft and engines sales of about $3 billion over 20 years from the project.

Web event invites minorities, women

Up to 200 minority and women entrepreneurs are expected to attend a Fifth Third Bank event Jan. 7 to help introduce the bank's new Web site targeting those vendors. The Cincinnati-based bank will demonstrate SupplierDiversity.53.com from 8:30 a.m. to 10:30 a.m. at the Bankers Club, 511 Walnut St., Suite 3000, to illustrate its supplier-diversity efforts. The event also will allow minority- and women-owned businesses to network. Melvin J. Gravely II, founder of the Institute for Entrepreneurial Thinking and author of When Black & White Make Green, will host a book signing. More details can be obtained from Karen Stewart, Fifth Third Community Affairs, at 534-6126.


Despite a strike, Kroger Co. is continuing to operate its stores in Southern California. Also, Joseph Pichler resigned as chief executive officer this year and remains chairman of the company, as part of a succession plan. Information was incorrect on the cover of Sunday's Business section.

The good steward
Float theme: Gift of sight
Smucker rated sweetest employer
Tower Place stores closing
IHI, GE team for Chinese engines
Beef testing under scrutiny
Beef futures fall the limit in mad cow aftermath
Dollar sinks as euro hits new high
Nasdaq hits 2000, keeps going
Parmalat founder may have to stay in custody
Retail boosted by last-minute buying
Stewart judge rules on records
Chinese tariff cutoff raises U.S. steel stocks

Web sites can help spot deals
Tech products: What's new
Video game junkie turns pro, cashes in