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Bayer acquires swine vaccine company
Bayer Corp. has agreed to buy certain assets of Pharmacia & Upjohn's biological business. Terms of the accord between Pittsburgh-based Bayer and Pharmacia & Upjohn Animal Health were not disclosed. The move will bolster Bayer's position in the cattle and swine vaccine markets worldwide. The transaction includes production and research facilities in Worthington, Minn., and a manufacturing plant in Omaha, Neb. Bayer is the U.S. subsidiary of Germany's Bayer Group.
FORE acquires Mass. Internet service provider
FORE Systems Inc. of Warrendale has acquired Cadia Networks, a privately held firm in Andover, Mass., that develops technology for Internet service providers, for about $150 million. The acquisition enables FORE to enhance its position in the asynchronous transfer mode (ATM) market by adding technology to its existing line of products.
Turnpike generates $175 million in revenue
Expenses are down and revenue are up at the Pennsylvania Turnpike Commission. Spending through the first two quarters of the 1996-1997 fiscal year is down by $1 million, or 1.4 percent, from the same period last year. Operating revenue are up from $169.4 million to $175 million during the same period. Total traffic increased, too, by 3 percent.
Waldec Group joins Alco Standard division
The Waldec Group, a Tampa, Fla.-based technology services company with an office in Fox Chapel, has merged with Alco Standard Corp. of Valley Forge. Terms of the deal were not disclosed, but Waldec will become part of Alco's IKON Technology Services division, which markets office technology solutions throughout North America and the United Kingdom.
Alcoa's earnings plunge as aluminum prices drop
Alcoa, the world's largest aluminum producer, reported a 35 percent drop in earnings in 1996. Alcoa earned $514.9 million, or $2.94 a share, on sales of $13.1 billion last year, compared to $790 million, or $4.43 a share, on sales of $12.5 billion in 1995. Alcoa suffered from excess capacity and decline in aluminum prices.
Champion Industries acquires Interform Corp.
Champion Industries Inc., the West Virginia commercial printing firm, has completed the acquisition of Interform Corp., Pittsburgh's largest printing company. It will continue to operate under the name Interform Solutions. The acquisition will result in a 50 percent increase in annual sales for Champion, bringing combined annual revenue into the $100 million range.
Rents continue to rise in local office market
The Pittsburgh office market continues to improve, according to a year-end report published by Grubb & Ellis Co. In the city's central business district, vacancy rates dropped, from 17.6 percent in 1995 to 15.09 percent in 1996, reflecting a rise in demand for space. Also, asking rents in the center city increased, from $17.56 to $18.07. Vacancy rates dipped only slightly in the suburbs, reflecting strong built-to-suit activity, which saps the demand for conventional space. Asking rents dropped a bit, from $15.51 to $15.14.
National Gypsum plans $70 million local plant
The National Gypsum Co. of Charlotte, N.C., plans to build a $70 million wallboard manufacturing plant in Shippingport that will use byproduct gypsum recycled from coal-fired power plant operated by Ohio Edison Co. subsidiary Pennsylvania Power Co. Production at the new plant is expected to begin in 2000 and will employ more than 150 people.
Universal Stainless spends $15 million on upgrades
Bridgeville-based Universal Stainless & Alloy Products Inc. has completed its $15 million capital expenditure program. The final phase of the program included upgrading the electric arc furnace in the company's melt shop and adding additional steel-rolling and plate-making capabilities to the company's plant. Universal manufactures semi-finished specialty steels and precision cold-rolled products, including stainless steel, tool steel and certain other alloyed steels.
MCI challenges Bell, AT&T cellular markets
MCI Communications is taking on Pittsburgh's reigning cellular phone service providers -- AT&T Wireless and Bell Atlantic Mobile. The company announced yesterday that it is offering cellular service in a local coverage area that includes metropolitan Pittsburgh, Beaver Falls, Indiana, Butler, Washington, Wheeling and the West Virginia panhandle and Steubenville, Ohio.
Alcoa sells aerospace division to West Coast firm
A group formed by investment banking firm Quarterdeck Equity Partners Inc. and the Pritzker family purchased the Composite Structures unit of Alcoa based in Monrovia, Calif. The $40 million-a-year unit designs and fabricates composite material and structures for the aerospace industry. Terms were not disclosed.
EIS signs marketing agreement with GeoTel
EIS International and GeoTel Communications Corp. have formed a strategic alliance to jointly develop marketing and technical development opportunities for their call center products. Canonsburg-based EIS designs call center management software and systems and GeoTel produces software-based call processing technologies.
Little Earth nearly doubles sales in 1996
Little Earth Productions Inc., a company that makes fashion accessories from recycled materials, watched sales rise 70 percent in 1996, from $1.9 million to $3.2 million. By turning street signs, license plates and soda bottle caps into purses, bags and belts, Little Earth has attracted national media attention; its products have been worn by characters on televison shows including Friends, ER, Cybil and Home Improvement. Owners Rob Brandegee and Ava DeMarco founded the company in 1993.
Mellon Bank joins Integrion's electronic alliance
Mellon Bank Corp., Downtown, will begin offering PC banking and electronic commerce through the Integrion Financial Network, an electronic banking alliance of 16 North American banks and IBM this year. The network will serve as a frame to build custom products and services, as well as to integrate its current electronic banking service. Current commercial software, such as Intuit's Quicken and Microsoft Money, can be used on the network for transactions. Mellon said the network is a stepping stone to using the Internet for banking.
Heinz sues Campbell over noncompete agreement
H.J. Heinz Co. filed suit against Campbell Soup Co., challenging Campbell's attempt to enforce a noncompete agreement. Last month, Heinz hired Daniel O'Neill to run its tuna, pet food and Latin American operations. Mr. O'Neill had signed an 18-month noncompete agreement in 1995 when Campbell appointed him president of its U.S. soup division.
LTV pension fund receives capital injection
Aliquippa-based LTV Steel has received some relief from it parent company, LTV Corp., Cleveland, in the form of $60 million contribution to the local steelmaker's pension plan, which is underfunded. LTV Corp. contributed a total of $203 million in 1996 and more than $2.7 billion since 1993. LTV Steel supplies the automotive, appliance and electrical equipment markets.
MotivePower signs $75 million credit deal
MotivePower Industries Inc., formerly MK Rail Corp., signed a four-year, $75 million domestic credit facility from Bank of America. In addition, the company refinanced its existing credit arrangement with a Bank of America affiliate at a lower interest rate. The new credit deal will replace the existing one during the first quarter of 1997. MotivePower is a manufacturer and distributor of locomotive components; a provider of fleet maintenance and overhauls; and manufacture of switcher locomotives.
Respironics wins product approval from FDA
Respironics Inc. received federal regulatory clearance to market one of its ventilitory support systems. The Food and Drug Administration cleared the product for use in hospitals to treat patients suffering from breathing problems and respiratory failure. The product was initially introduced in international markets in 1995. The Murrysville-based firm makes and sells respiratory medical products for use in the home, hospitals and in emergency care situations.
Thermal Industries to be acquired by H.I.G.
Thermal Industries Inc. has signed an agreement to be acquired by H.I.G. Investment Group for $30 million. The agreement provides for the shareholders of Wilkinsburg-based Thermal to receive $15 a share. The merger agreement, already approved by Thermal's board, will be submitted to shareholders by March 31 for approval. Thermal makes custom vinyl windows, doors, patio enclosures and vinyl deck planks.
Best Buy will open 3 Pittsburgh stores, hire 120
Best Buy Co. Inc., the electronics retailer, says it will open its first three Pittsburgh-area stores this fall. To staff the 45,000-square-foot stores, Minneapolis-based Best Buy will hire 120 local employees.
State approves four-year offerings at PSU branches
After six months of deliberation, Pennsylvania Secretary of Education Eugene Hickock approved Pennsylvania State University's plan to introduce four-year degrees at branch campuses across the state. The announcement came hours after Penn State dropped three Pittsburgh-area campuses from the plan. Many Pittsburgh-area colleges opposed the prospect of Penn State offering four-year degrees in their back yard, considering that unfair competition at their expense since Penn State receives $281 million a year from state taxpayers.
RedZone will clean up Chernobyl nuclear power station
RedZone Robotics Inc. has signed a one-year agreement worth $1 million with Lawrence Livermore National Laboratory in California to design a rrence Livermore National Laboratory in California to design a rrototype r the nuclear accident at Chernobyl. The gobot that can be used to clean up the site of the nuclear accident at the Chernobyl Nuclear Power Station in the former Soviet republic. The two parties expect to collaborate with scientific and engineering institutes in Ukraine in developing a prototype.
Integration Technology purchases Westmoreland County land
Integration Technology Systems Inc., an industrial computer enclosure company, has plans to build a 34,000-square-foot office and warehouse compl., an industrial computer enclosure company, has plans to build a 34,000-square-foot office and warehouse complex. It signed an agreement to purchase land at a Pittsburgh-area office park called Westmoreland Technology Park. The agreement allows the company room for expansion, up to 60,000 square feet. The deal should close in the next 60 days.
IT Corp. picked for $20 million in remediation work
International Technology Corp. won a five-year, $20 million contract from the Army Corps of Engineers Louisville District to conduct hazardous waste remediation wrs Louisville District to conduct hazardous waste remediation win nine states, including Pennsork in nine states, including Pennsylvania, West Virginia, New York, Ohio, Indiana, Illinois, Michigan, Kentucky and Tennessee. The Torrance, Calif.-based firm is in the process of moving its headquarters to Monroeville.
Swissvale consulting firm bought by AccuStaff
EMI, a Swissvale-based computer consulting firm, has been acquired by AccuStaff Inc. of Jacksonville, Fla. Terms of the deal were not disclosed, but EMI will maintain its Pittsburgh office where it employs 65 people and continue to run under current management. AccuStaff, a publicly traded provider of strategic staffing, consulting and outsourcing services, has more than 800 offices nationwide.
Penn State not giving up on local campus plan
Pennsylvania State University said it will resubmit plans to the state Department of Education so three branch campuses in Western Pennsylvania can offer four-year degrees. Penn State, which successfully petitioned the state to give the go-ahead for 14 campuses to switch from two-year to four-year programs, withdrew campuses in Beaver, McKeesport and New Kensington. It believed potential curriculum and enrollment conflicts with colleges in the area would further delay a decision that had already dragged on for six months.
Stadtlanders Pharmacy wins contract with Serono
Wilkins Township-based Stadtlanders Pharmacy has been selected by Serono Laboratories Inc. as one of the specialty pharmaceutical providers for the distribution of serostim, a recombinant DNA produced growth hormone for the treatment of AIDS, which became commercially available in October. Stadlanders, a nationwide direct delivery pharmacy, specializes in providing disease-specific pharmaceutical care to people living with HIV and AIDS and other chronic health conditions. Serono Laboratories is the U.S. affiliate of Ares-Serono Group.
Weight Watchers president resigns
H.J. Heinz Co. said Michael McGrath, president and chief executive of its Weight Watchers Gourmet Food Co., has resigned. Mr. McGrath moved the division from Heinz' Pittsburgh home to Hamden, Conn., two years ago. He will remain on special assignment for Heinz until a replacement is found.
Merged Pennsylvania Blues kick off Highmark ad campaign
Highmark Blue Cross Blue Shield has launched an advertising campaign to clarify its new name in western Pennsylvania. The ads, which began this week, explain the new name that results from the recent merger of Pittsburgh-based Blue Cross of Western Pennsylvania and Pennsylvania Blue Shield of Camp Hill, Pa. Highmark is the nation's eighth-largest insurer and the third-largest Blue Cross/Blue Shield company.
Nets Inc. will jointly market AT&T New Media, Industry.net services
Nets Inc., the parent company of Pittsburgh-based Industry.net and Boston-based AT&T New Media Services, plans to jointly market the services of both companies through Industry.net's online marketplace. To reduce costs and increase revenue, Nets Inc. says it will redesign the Industry.net site -- which links more than 270,000 buyers and sellers of industrial products and services -- so users can reach AT&T's WorldNet Internet access service as well as World Wide Web site creation and enhancement services from a single location.
EMCO Foodservice to merge with Atlanta firm
EMCO Foodservice Systems of Green Tree is in the due-diligence stage of merging with Atlanta-based ComSource Independent Foodservice Companies Inc. Both companies sell the products of "owner members" -- chiefly food distribution companies -- to restaurants, hotels, grocery chains, hospitals and universities. EMCO has 125 owners with combined sales of $6.6 billion. ConSource is owned by 95 companies with sales of $8.8 billion. EMCO and ComSource expect to have a recommendation made to the owners by early March.
Respironics joins DeVilbiss, sues AirSep
Respironics Inc. concluded a license agreement with DeVilbiss Health Care Inc. of Somerset to use Respironics' patented technology for products made or sold in North America. Respironics, a Murrysville maker of respiratory medical products, also said it filed a patent infringement suit against AirSep Corp. of Buffalo, which said it planned to market a device based on similar technology, so-called bi-level airway pressure.
Pittsburgh Brewing contributes to pension fund
Lawrenceville-based Pittsburgh Brewing Co. has contributed more than $1.5 million to its pension fund. The Pittsburgh Brewing pension plan for hourly workers had a long history of being under-funded. In an effort to correct the deficiency, the hourly and salary pensions plans were merged and the benefits frozen on June 15, 1995.
Two glass companies buy Anchor Glass
Consumers Packaging Inc. and its parent company, Pittsburgh-based G&G Investments Inc., have agreed with Owens-Brockway Glass Containers to jointly acquire the assets of Anchor Glass Container Corp. for $392.5 million, subject to adjustments and assumption of certain liabilities. Closing of the sale is expected in mid-January.
ATM maker adds to headquarters campus
FORE Systems Inc. won approval from Marshall Township supervisors to add a fourth building to its $30 million suburban Pittsburgh campus at the Thorn Hill Industrial Park in Warrendale. Construction of three buildings on the 100-acre site is already underway and work on the fourth is set to begin sometime in spring. Fore is the leading maker of asynchronous transfer mode (ATM) applications for data transfer.
Mellon Bank grows money management unit
Mellon Bank Corp. has agreed to acquire the assets of Ganz Capital Management Inc., a privately held North Miami Beach-based investment management firm specializing in private asset management. Terms of the deal were not disclosed. Founded in 1971, Ganz manages about $400 million in assets. It will operate in Florida as part of Mellon's private asset management division, which manages or administers $54 billion in assets. The division offers money management services to wealthy individuals and families.
Herr-Voss expands with $75,000 state grant
Harmony-based Herr-Voss, a manufacturer of steel and aluminum strip processing machinery, will receive a $75,000 Pennsylvania opportunity grant to acquire land and to complete infrastructure improvements at is five-acre site in Harmony. A 26,000-square-foot mill roll service building will be constructed at the new site. The new project is expected to create 40 new jobs within the next two years.
Knox & Knox merges with Meyer & Eckenrode
Knox & Knox Inc., a general insurance company, is merging with Meyer & Eckenrode, Downtown's largest privately held insurance agency. The companies will keep their separate names and offices but will share some of their insurance carriers. Knox said the merger will allow his company to expand its reach in the general insurance and contract bonds area it specializes in.
Mastech, Viasoft link to solve year 2000 snafus
Mastech Corp. has been signed as a service provider for Viasoft Inc., a Phoenix-based technology consulting firm. Under the terms of the agreement, the Oakdale-based information technology services provider will partner with Viasoft to provide national and international businesses with comprehensive solutions computer date problems stemming from the year 2000.
Mellon Bank signs with Equifax Check Services
An agreement with Equifax Check Services will bring check verification to Mellon Bank Corp.'s 60,000 merchant customers. Mellon, Downtown, currently provides credit card verification to those customers, as well as health care providers, government agencies and 100 financial institutions. The deal is part of a major expansion at Equifax called the Market Partners Program. It offers check guarantee, collections and point of sale pre-screening.
Ansaldo wins domestic, overseas contracts
Ansaldo Signal N.V., an amalgamation of Pittsburgh-based Union Switch & Signal Inc. and sister signaling companies in Italy, France, Sweden and Ireland, was awarded two major contracts with a combined value of $58 million for transit rail signaling and control systems in Italy and in the United States. The U.S. contract, valued at $21 million, involves Union Switch & Signal and the New York Transit Authority.
Pittsburgh airport reports a record year
Traffic at Pittsburgh International Airport increased 2.6 percent in 1996, with a record-high of 20.5 million passengers. Total take-offs and landings increased .8 percent, to an average of 1,238 per day. Air cargo activity also increased, to more than 224 million pounds of volume. That's 5.9 percent better than 1995.
ANSYS signs software publishing deal
Pittsburgh-based ANSYS Inc. has signed an agreement with Prentice Hall to distribute a student edition of its engineering software. Under the terms of the deal, the textbook publisher will include ANSYS/ED Student Edition in more than 20 engineering books distributed to colleges and universities throughout North America. In addition, the publisher has agreed to market the program as a standalone product.
Beverly Enterprises must rehire striking workers
Beverly Enterprises was ordered by the U.S. District Court to reinstate hundreds of workers represented by the Service Employees International Union. The injunction was sought by the National Labor Relations Board at the request of the union. In April 1996, nearly 1,000 nursing home workers employed by Beverly went on strike to protest Beverly's labor practices at its Pennsylvania facilities. The strike lasted only three days. Beverly responded by permanently replacing strikers, and denying other workers their former positions.
CNG plans to spend $250 million on energy unit
The Securities and Exchange Commission has approved plans by Consolidated Natural Gas Co. and its power marketing arm, CNG Energy Services Corp., to invest up to $250 million in guarantees and other credit support over the next four years in subsidiaries that sell energy commodities. The plan is part of CNG's efforts to broaden its energy marketing activities to include brokering electricity, other energy commodities, fuel management and energy related services.
National Record Mart names new executive
National Record Mart has a new president: Larry Mundorf. The U.S.'s ninth-largest music retailer promoted Mr. Mundorf from his position as executive vice president. As part of the move, NRM head William Teitelbaum will step down as president, while retaining his chief executive and chairman titles.
Bankruptcy court approves Italian Oven sale
Italian Oven Inc. announced that U.S. Bankruptcy Court, which is overseeing its reorganization under Chapter 11, has approved the sale of its assets to the Whitecliff Group Inc., a Minneapolis merchant bank. The Latrobe-based family style restaurant chain expects the asset sale will be completed by Jan. 31.
Federated Investors hires former AT&T executive
Federated Investors, Downtown, hired a former partner of AT&T Solutions as president and chief executive of its subsidiary, Federated Services Co. Arthur Cherry, 43, will take the helm Jan. 27. He also has worked with The Boston Co., Boston Financial Data Services and EDS Consulting. He is replacing Jim Dolan who stepped down last summer. Founded in 1995, Federated Services provides products, technology and financial services for the mutual fund industry.
Merchandising executive leaves American Eagle
American Eagle Outfitters Inc. announced the resignation of Michael Scandiffio, the company's executive vice president of merchandising. A specialty retailer of casual apparel, American Eagle operates 307 mall locations in 39 states. The company's stock dropped over the holiday season, its fourth-quarter earnings falling short of analysts' expectations.
Employers gravitate to managed care plans
Managed care insurance plans will continue to attract more midsized Pittsburgh employers in 1997, according to a forecast by Johnson & Higgins. The international insurance broker predicted that competition from managed care insurers will help hold employers' health care costs in check, particularly in the Northeast where managed care is still taking hold. Western states may see some price increases due their more mature managed care markets, Johnson & Higgins said.
Profits soar, costs weigh at USAir
Profits and revenue at USAir Group Inc. increased in 1996, but the airline's costs remained among the highest in the industry. The Arlington, Va-based company announced a net profit of $263.4 million, up from $119.3 million in 1995. Revenue for 1996 were $8.14 billion, up from $7.47 billion last year. Its costs per available seat mile, however, rose from 11.4 cents to 12.69 cents.
DQE, Heinz join forces in energy deal
DQE Inc. and Heinz USA have signed an agreement through which DQE will provide all energy services to Heinz's North Side food manufacturing plant. Under the terms of the 15-year deal, DQE Energy Services, a wholly owned subsidiary of DQE, will procure fuel, produce electricity, steam and compressed air and otherwise operate and maintain the energy facility at the site.
Biocontrol begins home tests of glucose sensor
Biocontrol Technology Inc. will begin in-home testing of its noninvasive glucose sensor. The move comes as the Green Tree-based company seeks federal Food and Drug Administration approval for its Diasensor 1000, a product aimed at helping diabetics check glucose levels without a finger prick. The testing period, which begins Feb. 3, is expected to take 120 days to complete.
Baker Mellon Stuart wins GSA contract
Baker Mellon Stuart Construction Inc., a unit of the Michael Baker Corp., has received a $2.2 million design-build contract from the General Services Administration to renovate the office of the U.S. Marshal in downtown Pittsburgh. The renovation will convert 28,000 square feet of conventional office space into an area specially designed for law enforcement. Pittsburgh-based Michael Baker provides engineering, construction and operations and technical services.
Commercial airfares on the rise in Pittsburgh
Most of Pittsburgh's air fares increased last year, according to the American Express Business Airfare Index. Full coach and business fares rose 6 percent and 2 percent, respectively. The more restrictive fares dropped, however, by 8 percent. USAir Group Inc. is the dominant air carrier in Pittsburgh, generating about 80 percent of the traffic at Pittsburgh International Airport.
FORE creates COO position for Thomas Gill
Thomas Gill was appointed to the newly created position of chief operating officer at FORE Systems Inc. Mr. Gill, 38, will continue in his role as chief financial officer for the Pittsburgh maker of high-performance networking products as well. Mr. Gill has been with FORE since 1993. The company is one of the region's fastest growing high-tech companies. Its 1995 revenue topped $235 million.
USX Corp. pumps funds into Marathon unit
Pittsburgh's USX Corp., an oil, gas and steel company, has expanded its Marathon Group's capital investment and exploration budget by 43 percent this year compared to 1996. Marathon Group's budget will be $1.22 billion this year compared to $851 million last year. The increase is primarily due to the development of several domestic and international oil and natural gas properties resulting from Marathon's successes during the past two years.
Trammell Crow plans Cranberry spec building
Trammell Crow Co. plans to build a 80,000-square-foot speculative building at Cranberry Woods, its first large development project in the Pittsburgh area. The Dallas company hopes to break ground by late summer. The three-story building will house tenants requiring between 5,000 and 10,000 square feet. Cranberry Woods is a 327-acre office park owned by Mine Safety Appliances Co.
AHERF sued over use of Allegheny name
Allegheny College of Meadville filed a lawsuit for trademark infringement in U.S. District Court against the parent company of Pittsburgh's Allegheny General Hospital. The 181-year-old college said it wants to prevent Allegheny Health Education and Research Foundation from improperly taking the Allegheny College name for its educational institution and its statewide medical network. Philadelphia-based Allegheny University of the Health Sciences, under the foundation's aegis since 1993, said last June it would change its name to Allegheny University.
Westinghouse names Ray Smith, CBS chairman to board
Westinghouse Electric Corp. has elected Raymond Smith, Bell Atlantic Corp. chairman, and Mel Karmazin, CBS Radio chairman, to its board.
Mellon Bank opens trust company in Illinois market
Mellon Bank Corp., Pittsburgh's second-largest bank, is opening a trust company in Illinois to serve that region's market. Since its charter was approved last month, the Mellon Trust Co. of Illinois has been chosen by three state insurers to provide custody services for $37 billion in accounts. The back-office operation of the company will be provided through Mellon's Global Trust Services Division, which has 2,500 employees and has more than 700 clients.
Industry.Net shuts down local editorial operation
Less than a week after moving into new offices to make room for a rapidly growing operation, Pittsburgh-based Industry.Net has terminated 45 local employees. The company, a subsidiary of Cambridge, Mass.-based Nets Inc., eliminated personnel in several departments, including editorial, marketing and telemarketing and internal operations, reducing its number of employees to 105. Industry.Net is an online marketplace that matches buyers and sellers of products in the manufacturing sector. Founded in 1990 by prominent local entrepreneur Donald Jones, it was among the first to exploit the Internet as a commercial marketplace.
Stadtlanders to acquire Nashville pharmacy
Stadtlanders Pharmacy plans to acquire Nashville-based Hutcherson's Pharmacy, a company that provides pharmacy services to jails and prisons through an agreeement with Corrections Corp. of America. Stadtlanders, owned by Counsel Corp., offers care to patients living with AIDS and other chronic illnesses.
Conair Group moves to Pittsburgh
The Conair Group, a supplier of plastics processing auxiliary equipment, will merge and expand its domestic U.S. operations at two western Pennsylvania facilities before the end of the year. Plans call for an immediate 50,000-square-foot addition to Conair's existing manufacturing facility in Franklin and the establishment of a 70,000-square-foot corporate office and technical center in suburban Pittsburgh. Current Conair operations are in Agawam, Mass.; Bay City, Mich.; and Elgin, Ill., will merge into the Pennsylvania facilities later by Nov. 1.
Pitt-Des Moines buys Vancouver steel maker
Pitt-Des Moines Inc. has bought General Steel Corp. of Vancouver, Wash., which produces steel products for the Pacific Northwest. The acquisition will expand Pitt-Des Moines' Service Center Division, headquartered in Stockton, Calif. Pitt-Des Moines is an engineering and construction company that processes and distributes carbon steel products. Terms were not disclosed.
DQE's real estate arm makes land grant
Property Ventures, a subsidiary of Pittsburgh's DQE Inc., has donated 77 acres in Plum Borough to the Allegheny Land Trust for a nature reserve. This is the biggest land donation to the trust in its 3 1/2-year history. Officials said they want to start a conservation program for the land. DQE is the parent company of Duquesne Light Co.
ERI purchases energy services firm
Equitable Resources Inc. of Pittsburgh has purchased Scallop Thermal Management Inc., a Philadelphia energy services and performance contract firm, for an undisclosed amount. The deal enables ERI Energy Services, an operating unit of ERI that develops energy solutions for government agencies and industrial and institutional clients, to expand its capabilities in performance contracting to include energy efficiency lighting.
Cable Design Technologies moves to NYSE
Cable Design Technologies Corp., a Pittsburgh-based designer and manufacturer of electronic data transmission cables, is moving trading of its stock from the NASDAQ exchange to the New York Stock Exchange effective Jan. 29. The company said it will trade under the ticker symbol "CDT" on the NYSE beginning with the Jan. 29 trading session.
British Airways directors leave USAir Group board
Three British Airways directors have resigned from the board of USAir Group Inc. For months, Arlington, Va.-based USAir has been trying to sever its relationship with British Airways, citing BA's proposed merger with American Airlines and USAir's desire to compete for slots at London's Heathrow Airport.
UPMC, Passavant hospitals merge
Passavant Hospital and the University of Pittsburgh Medical Center announced plans to merge. The move gives UPMC a major foothold in the fast-growing northern section of the Pittsburgh region and will bring additional acute-care services to Passavant. UPMC has been actively building a vast hospital network by acquiring, affiliating or merging with other hospitals in the Pittsburgh area.
Respironics buys German distributor
Respironics Inc. plans to buy a German distributor of therapy systems used to treat various respiratory disorders. Stimotron Medizinische Gerate GmbH of Wendelsteing, Germany, is also Respironics' sole distributor in Germany. Terms of the transaction, expected to close in February, were not disclosed. Respironics is a Pittsburgh-area maker of respiratory medical products used in the home, hospitals and in emergency care situations.
FDA approves Mylan's generic hypertension drug
Mylan Laboratories Inc. received approval from the federal Food and Drug Administration to make and market guanfacine hydrochloride tablets. The drug, used to manage hypertension, is a generic equivalent of Tenex, a product of A.H. Robins. Pittsburgh-based Mylan will make the drug in its Morgantown, W. Va. plant.
L.B. Foster will build rails for San Juan transit system
L.B. Foster Co., a Pittsburgh maker of rail, construction and tubular products, said it will supply $17 million of rails for a joint venture building tracks for the Tren Urbano Transit System in San Juan, Puerto Rico. The transit system will serve San Juan, Bayamon and Guaynabo, Puerto Rico.
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