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Friday, February 6, 2004

Tristate summary



Cincinnati at 28th in biotechnology

Cincinnati ranked 28th on Business Facilities magazine's list of the top 40 spots in the nation for biotechnology development. The Cleveland-Akron area ranked 20th while Columbus was 22nd. Communities were ranked by using criteria that included the number of biotech patents received, workers in the pharmaceutical and life sciences sectors and the number of bioscience doctorate degrees awarded. New York was tops on the list, with Buffalo, N.Y., last.

Bramble Bank to nearly double

Bramble Savings Bank, with assets of $30 million and a branch in Milford, will nearly double in size after its merger with another local thrift. The deal calls for First Savings Bank of Norwood to merge with Bramble Savings, a move that will allow First Savings to overcome operational, management and regulatory issues. The deal will allow Bramble to pick up branches in Pleasant Run, Loveland and Norwood. The combined entity will have assets of $54.5 million and deposits of $45.5 million. Scott Losekamp, Bramble's president, will be the new entity's president. It will use the Bramble name. The merger is expected to be completed by March 31. First Savings has operated in Greater Cincinnati for about 102 years.

Hopple Plastics in Florence to close

Waddington North America plans to close its Hopple Plastics plant in Florence by the end of March, eliminating about 100 jobs. Waddington acquired the Florence plant, which makes plastic dinnerware and packaging, from John Hopple in 1988. The company said the plant shutdown was part of a manufacturing consolidation to improve efficiency and stay competitive. Covington-based Waddington, which employs about 1,150, also has plants in Massachusetts, California, Texas and Tennessee.

Staff reports



Mall makeover poised to begin
Cintas sues for defamation
Need for rehab measure doubted
Figuring out mutual fund fees not so simple
Debate grows over fund fee disclosure
Prospectus has more than fee info
Witness says Stewart was curt on phone
Past quarter great for Toyota
Productivity gain raises hope companies will hire more workers
January sales, cold keep retailers hot
Tristate summary
Business digest

 

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