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Thursday, June 17, 2004

Tristate business summary



GE announces $180M engine deal

GE Aircraft Engines and its French partner Snecma Moteurs Wednesday announced an engine order valued at more than $180 million to supply engines for 18 Airbus A320 jets for Virgin America, the new Virgin-branded U.S. domestic carrier. The startup airline will also lease 15 A320 jets from GE Capital Aviation Services. The carrier also took options for 72 additional A320 jets to be powered by CFM International, the GE-Snecma joint venture. If the carrier exercises all the options, the engine deal could eventually be worth more than $1 billion to CFMI.

Givaudan workers voting on agent

About 180 production and maintenance workers at flavor-maker Givaudan SA's Carthage plant vote today in a National Labor Relations Board-supervised representation election. The workers are voting whether to accept the International Chemical Workers Council as their bargaining agent. The union, part of the United Food and Commercial Workers union, has conducted an organizing effort at the plant since April. The company confirmed the election today, but declined further comment

Area Hall of Fame seeks nominations

The new Greater Cincinnati International Hall of Fame is accepting nominations for inductees.

The exhibit will travel throughout Greater Cincinnati starting in September. Categories are: Education, cultural arts, non-profits, foreign-owned companies, locally headquartered companies, and global citizen.

The Hall is a project of the Regional Leadership Forum II Fellows team. Information: Florine Postell at gcihf@fuse.net.

Tobacco Road chain files for bankruptcy

COLUMBUS, Ind. - The owner of the Tobacco Road convenience store chain has filed for Chapter 11 bankruptcy protection.

Columbus-based Kiel Bros. Oil Co. cited falling profit margins and the collapse of a deal to sell the company to Bulk Petroleum Corp. of Mequon, Wis. During the bankruptcy reorganization period, Kiel's 210 convenience stores, most with the Tobacco Road name, and 90 wholesale fuel locations will operate as normal, the company said.

The stores are spread around central and southern Indiana, southern Illinois and Kentucky.

SprayCore moves from Blue Ash to Florida

SprayCore, a manufacturer of coatings for laminate materials, has moved operations from Blue Ash to Clearwater, Fla.

The unit of Illinois Tool Works employed about 30 here and has about the same number in Florida, said spokeswoman Monika Nevitt. About eight employees were relocated with the move.

The move, which represents a return to where the company was started in 1986, allows SprayCore to expand on its recent acquisition of Magnum Venus Products, a Clearwater resin manufacturer.

Staff reports




BUSINESS HEADLINES
97X Web station returns, thanks to pair of investors
Fifth Third outsourcing 80 tech jobs
Cornerstone's top floor taken
Peale: Rebels only sideshow in Chiquita deal?
World trade unfair to U.S., CEO warns
Frequent-flier, low-hassle security to get first test
Caged, two billionaires go on trial in Moscow
Delegates insist trade should help 3rd World
Big industry prospers; overall business thrives
Tristate business summary
Business Digest
Business People



 

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