Friday, June 18, 2004

Business briefs

AK Steel says bonds preserve 1,000 jobs

AK Steel said late Thursday it completed a $62 million industrial revenue bond issue through the state of Ohio for new pollution control equipment that preserves about 1,000 jobs at its Middletown mill.

Proceeds from the bond issue through the Ohio Air Quality Development Authority will be used help pay for emission controls on the plant's blast furnace and basic oxygen furnace. In April, AK Steel agreed to make the investment, with the state's help, in resolving a 4-year-old pollution lawsuit filed by the Ohio EPA.

The emissions equipment is necessary to bring the plant into compliance with new federal standards under the Clean Air Act. Without the controls, the company has said basic steel making and about 1,000 jobs at the mill were in jeopardy.

J&F Steel being sold for about $55 million

J&F Steel, a carbon steel processor with operations in Middletown, is being sold to Ryerson Tull Inc. by Arcelor for about $55 million in cash. The deal also includes J&F plants in Burns Harbor, Ind.; Jenison, Mich.; and Memphis, Tenn.

Convergys extends deal with wireless firm

Cincinnati's Convergys Corp. said Thursday it signed a multiyear contract extension to provide billing and other services for Centennial Communications Corp., a wireless and broadband telecommunications provider in the United States and the Caribbean.

Terms weren't disclosed.

AmeriStop parent buys back shares

The Walnut Group, a Cincinnati-based venture fund that in 1999 purchased a large block of shares in Cold Spring-based Ameri-Stop Food Marts, has agreed to sell its shares back to the parent company for an undisclosed price. AmeriStop is one of the largest independent operators of convenience stores in the United States, currently operating 140 corporate and franchise locations in a four-state region.

LexisNexis joins fight vs. fraud

DAYTON, Ohio - LexisNexis, the legal, news and business information services firm, has partnered with national compliance firm American Bank Systems for a new product to protect financial institutions from identity fraud. The product, BankManager, also can be used in USA Patriot Act compliance efforts, the companies said. Dayton-based LexisNexis offered its leading product, RiskWise, to improve upon ABS's BankManager program, which now will give banks an instant risk rating on new accounts and immediate verification of customer identification. American Bank Systems is based in Oklahoma City..

Staff reports

102-year-old store boards up
Delta pilots ready to talk
Laundry and so much more
Web users, be wary of 'phish'
A salesman for Cincinnati
Insurance firms plan 'merger'
Bunning opposes Fed boss's 5th term
Revised sales tax drops some items
Survey: Credit reports flawed
Ethanol plant fueling corn farmers' hopes
Pension plans billions short; airlines, steel in worst shape
United loses bid for loan support
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