5/3 closing fund to new investors

Fifth Third Funds, offered through Fifth Third Securities, is closing its Fifth Third Micro Cap Value Fund to new and existing investors. Some parts of the $246.8 million-asset fund will be open to retirement plans. Fifth Third said closing the fund to new investors will allow it to continue to focus on investing in small companies with market values of less than $300 million. Fifth Third will continue to offer the Small Cap Value Fundand Multi Cap Value Fund. Fifth Third Funds includes a family of 34 mutual funds with assets of $13.5 billion.

Multi-Color makes Kneir a president

Cincinnati's Multi-Color Corp. has named Donald E. Kneir president of its growing decorating-solutions division. In the new post, Kneir will oversee the company's label business including product development, customer relations and revenue growth. Frank Gerace, Multi-Color's president and CEO, said the company's rapid growth in the last three years requires the company supplement its senior management. Kneir was previously president of API Foils Inc.; general manager and vice president of sales and marketing for Field Container's box division, and director of marketing for Pechiney/American National Can Co.

Simmons to close Grove City factory

GROVE CITY, Ohio - Simmons Co. plans to close a suburban Columbus mattress factory April 8, eliminating 107 jobs. The Atlanta-based company said other plants would increase production. Simmons also has announced plans to open plants in Washington and Pennsylvania. Many of the 85 plant workers represented by the United Steelworkers of America said Simmons is closing older plants and moving the work to nonunion factories, said Randy Ater, president of Local 2342. The company denied the union's allegations.

Staff/wire reports