The Enquirer

Schneider Electric is tentatively planning to close its Square D electric switch and equipment plant in Oxford by the end of next year.

A closure would mean the loss of nearly 250 jobs, company officials said Wednesday.

The final decision will be made by Oct. 31, and the plant's operations would be moved to other facilities in the southeastern United States, officials said.

The plant, which has been in operation since 1969, employs 300. Some marketing and engineering workers could remain behind if the plant is closed.

Fifth Third outbid in Memphis deal

Cincinnati's Fifth Third Bancorp agreed three months ago to pay about $7 billion to acquire National Commerce Financial Corp. before losing out in final talks to rival bidder Atlanta-based Sun Trust Banks Inc., according to regulatory filings made this week by Memphis-based National Commerce.

The National Commerce board told Fifth Third and Sun Trust May 7 that their bids were about equal in value and both were offered a chance to submit a final proposal. Both Fifth Third and Sun Trust raised their bids.