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DEC, Carnegie Mellon University join forces
Researchers at Pittsburgh's Carnegie Mellon University and Digital Equipment Corp. are collaborating on a $7.5 million project to develop a new infrastructure for high performance desktop computing that includes advanced video capabilities. It is expected to be completed by 2000.
Mellon offers business electronic purchasing
Mellon Bank Corp. is offering a new product to business customers, a purchasing card package that allows companies to buy goods and services electronically. Mellon said the product will help companies shift to paperless transactions and eliminate purchase order and invoicing cycles. Vendors will be able to cut payment clearing time and lessen the chance of fraud with the system. The package allows vendors to accept the guaranteed payments with the card, as well as MasterCard and Visa.
NOXSO wins injunction against Olin Corp.
A preliminary injunction, sought by Bethel Park-based NOXSO Corp., has been granted against Olin Corp. by Allegheny County Common Pleas Court. The injunction prevents Olin from terminating its supply agreement with NOXSO or taking title to NOXSO's facility built under that agreement. Under the agreement, NOXSO constructed its facility at Olin's plant in Charleston, Tenn., to convert elemental sulfur into liquid sulfur dioxide. Olin is to lease the facility and purchases sulfur from NOXSO for 10 years for $3.2 million annually.
Biocontrol Technology unit will study lung cancer
IDT Inc., a subsidiary of Pittsburgh-based Biocontrol Technology Inc., has received Food and Drug Administration approval for a cancer study. In conjunction with Indiana-based HemoCleanse Inc., IDT will conduct a feasibility study under an investigational device exemption, using the BioLogic-HT System for treating patients with metastic lung cancer..
Education Management buys Minneapolis school
Education Management Corp. finalized its acquisition of Minneapolis-based Lowthian College, which it will rename the Art Institute of Minnesota. Pittsburgh-based EMC is among the nation's largest providers of post-secondary education. The deal's financials were not revealed, but Lowthian reported revenue of $500,000 for the year ended May 31, 1996.
G&G unit concludes Anchor Glass acquisition
Pittsburgh's G & G Investments Inc. announced its subsidiary, Consumer Packaging Inc., closed a deal to buy the assets of Anchor Glass Container Corp., including 11 operating plants, a machine shop and a mold shop. Consumers Packaging paid about $200 million in cash, $47 million in convertible preferred stock and 499,000 shares of common stock. Consumers Packaging is now one of the three largest glass packaging producers in the nation and Canada.
USAir Group's passenger revenue, miles climb
USAir Group Inc.'s revenue passenger miles increased 19.6 percent in January, as compared to the corresponding period in 1996. The number of boarded passengers increased, too, by 12.9 percent. USAir flew more miles overseas in January, increasing its international revenue passenger miles by 105.2 percent, from 121,788 to 249,942.
CBS unit will dump Westinghouse name
Westinghouse Electric Corp. will leave the Westinghouse name and logo in Pittsburgh when it splits into broadcast and industrial businesses this summer. Broadcast, which will be headquartered in New York, will be CBS Corp., after the network Westinghouse acquired in August 1995. The industrial businesses will be known as Westinghouse Electric Co.
Underwriters stock up on SEEC options
Underwriters of SEEC Inc.'s recent public offering exercised stock options amounting to 270,000 shares worth $1.7 million. The underwriters were H.C. Wainwright & Co. Inc. and Cruttenden Roth Inc. SEEC is a Pittsburgh software firm specializing in correcting the problems that mainframe computers have in recognizing years beyond 1999.
AGH parent buys HealthAmerica practices
Coventry Corp, HealthAmerica's parent company, and Allegheny Health, Education and Research Foundation agreed to form a 10-year partnership that includes a risk-sharing arrangement and AHERF's acquisition of HealthAmerica's medical practices, including Penn Group Medical Associates. Penn Group has nine offices located throughout the metropolitan area. Both boards must approve the deal. AHERF is the parent company of Allegheny General Hospital.
American Eagle fare better in January sales
Same-store sales at American Eagle Outfitters increased 6.6 percent during the month of January, when compared to a corresponding four-week period in 1996. Total sales increased 21.4 percent in January, although the company heavily promoted its merchandise last month because of lower than expected holiday sales.
PPG buys stake in Mexico car glass factory
PPG Industries Inc. has acquired 25 percent interest in Cristal Laminado Templado S. A. de C.V. (CITSA), an automotive glass fabricator in Tepeji del Rio, Mexico, 15 miles north of Mexico City. PPG and CITSA are expanding capabilities at the 5-year-old plant to begin production by midyear of original-equipment passenger car glass parts for domestic and export markets. Pittsburgh-based PPG is a producer of glass, fiber glass, coatings and chemicals.
Creditors try to force NOXSO into bankruptcy
Olin Corp. and two other creditors in the U.S. Bankruptcy Court for the Eastern District of Tennessee have filed an involuntary petition of bankruptcy against Pittsburgh-based NOXSO Corp. NOXSO officials say they are in the process of evaluating the petition and intend to contest it. NOXSO recently was awarded an injunction against Olin, which wanted to terminate a partnership between the two. NOXSO and Olin have a 10-year agreement, in which Olin would purchase liquid sulfur dioxide processed at a facility, that both companies jointly had constructed.
EIS International's CEO resigns, earnings delayed
EIS International Inc.'s chief executive and chairman, Joseph Porfeli, has resigned. Replacing him as chief executive is James McGowan, formerly the chief operating officer. The new chairman is Robert Cresci. Mr. Porfeli resigned amid speculation about the Pittsburgh company's fourth-quarter and year-end earnings, which have yet to be released.
Oberg, Sam Levin win million-dollar state loans
Pittsburgh-based Oberg Industries and Mount Pleasant-based Sam Levin Inc. each received Pennsylvania Industrial Development Authority loans worth $1 million. Oberg, a manufacturer of tungsten carbide stamping dies, will create 184 jobs with its 24,000-square-foot expansion and a 93,000 square-foot renovation project. Sam Levin plans to construct a new 203,880-square-foot facility. The company, which stores and distributes products, is expected to create 67 new jobs.
Kennametal announces stock buyback plan
Kennametal Inc. announced plans to gradually buy back up to 1.6 million shares of its stock, for investment purposes. The Pittsburgh-based tool manufacturer has 26.8 million shares outstanding.
Matthews buys into Chicago printing company
Matthews International Corp. bought a 50 percent stake in Tukaiz Litho Inc. The two companies hope to create a leader in the graphics industry. Tukaiz, based near Chicago, prepares art or digital files for printing or reproduction. Pittsburgh-based Matthews is a designer and maker of custom-made identification products such as cast bronze memorials and printing plates. Terms of the purchase were not disclosed.
Record amount of stainless steel pours into nation
Nationally, stainless steel imports soared 13 percent in the 11-month period ended in November 1996. Pittsburgh steelmakers including J&L Specialty Steel Inc., Allegheny Teledyne Inc., Armco Inc. and Universal Stainless & Alloy Products Inc. said they have been negatively affected by the influx of foreign-made stainless steel.
Nursing home firm wins delay in reinstating workers
U.S. District Court has granted Beverly Enterprises, which operates two Pittsburgh-area nursing homes as well as others statewide, a temporary stay of an order requiring it to reinstate hundreds of employees who were replaced during a strike in April. Beverly requested the stay to work out reinstatement procedures. The injunction follows months of litigations arising out of the strike by members of the Service Employees International Union.
Equitable acquires DOE's Louisiana pipeline
Equitable Resources Inc. is purchasing the Department of Energy's 67-mile pipeline in Southern Louisiana. The $22 million acquisition enhances Pittsburgh-based Equitable's capabilities in the purchase, sale, aggregation and trade of energy and energy services in the Gulf of Mexico. The deal is expected to close by May.
Alcoa won't wait for NOXSO financing
Alcoa said it will not grant an extension of the Jan. 31 deadline for NOXSO Corp. to obtain financing for its clean-smokestack process. Since 1994, Pittsburgh-based NOXSO has planned to build and operate the first full-size commercial demonstration of its process at Alcoa's Warrick, Ind., plant. The process is designed to reduce pollutants that cause acid rain and ground level ozone. Alcoa, also of Pittsburgh, has granted NOXSO several previous extensions to finance the $82 million project.
R&R wins U.S. Air Force contract in N.J.
R&R International Inc., Pittsburgh, won a $50 million contract with U.S. Air Force for construction, renovation and repair work to the McGuire Air Force Base, N.J.
FDA approves domestic manufacture of sleep apnea product
Respironics Inc. received clearance from the federal Food and Drug Administration to make one of its respiratory medical products in the United States. The BiPAP Duet System has been available internationally since February 1996 and treats patients suffering from adult obstructive sleep apnea. Respironics, a Pittsburgh-area firm, designs and develops respiratory products for use in the home, hospitals and in emergency care situations.
Court refuses to enforce Heinz, Campbell agreement
A U.S. District Court in Pittsburgh denied the Campbell Soup Co.'s motion to enforce an alleged agreement with H.J. Heinz Co. over the Pittsburgh company's employment of a former Campbell executive. Daniel O'Neill signed a contract with a noncompete clause two years ago when he headed Campbell's U.S. operations; Campbell cried foul when Mr. O'Neill joined Heinz last month to run its tuna and pet food units.
Simmons named CEO at Allegheny Teledyne
Allegheny Teledyne Inc. president and chief executive officer, William Rutledge, resigned. The new president and CEO will be company chairman Richard Simmons. Locally based Allegheny Teledyne is a manufacturer of specialty metals that was formed in August 1996 with the merger of Pittsburgh-based Allegheny Ludlum Corp. and Los Angeles-based Teledyne Inc. Mr. Rutledge, formerly of Teledyne, said he resigned because the transition from California to Pittsburgh was "too difficult."
Italian Oven's new owners sell four Ohio restaurants
The Italian Oven Inc. has changed its name to Store Liquidation Group Inc. after selling most of the Pittsburgh-based restaurant chain's assets to Italian Oven LLC, an affiliate of Minneapolis's Whitecliff Group. It also announced the closing of four unsold restaurants in Ohio.
MotivePower plans $5 million Tennessee project
Pittsburgh-based MotivePower Industries Inc. plans to construct a $5 million manufacturing and engineering/technical facility for its Touchstone subsidiary in Jackson, Tenn. The new facility, which will also be Touchstone's headquarters, will enable the company to expand its product line, reduce costs and improve productivity and efficiency. MotivePower is a manufacturer of engineered locomotive components. It also provides locomotive fleet maintenance and manufacturers switcher and commuter locomotives.
Astrotech to purchase California storage tank builder
Astrotech International Corp. plans to acquire Trusco Tank Inc., a privately held San Luis Obispo, California-based company. Trusco Tank is a manufacturer of steel structures, including storage tanks, pressure vessels and shop-built tanks. The company had revenue of about $23 million. Astrotech makes products for refining, petrochemical, wastewater treatment, agricultural, and power generation. Astrotech also provides engineering and maintenance services to large aboveground storage tanks.
Pittsburgh Home Financial begins stock buyback
Pittsburgh Home Financial Corp., the holding company for Pittsburgh Home Savings Bank, has authorized the repurchase of 103,650 shares, about 5 percent of the company's stock. The repurchased shares will be held as treasury stock for the company to use. The Federal Deposit Insurance Corp. has given its approval.
AmeriSuites plans to build hotel in Pittsburgh
A new AmeriSuites hotel will be built in Pittsburgh. New Jersey-based Prime Hospitality Corp. will develop the six-story, 128-suite hotel in a township near Pittsburgh International Airport. Construction should be completed by year's end. The AmeriSuites Pittsburgh/Airport will be the first AmeriSuites property in the state.
Acquisition of Podiatry Hospital is complete
Consolidated Health Corp. of Pittsburgh Inc. completed its acquisition of an ankle and foot hospital, The Podiatry Hospital of Pittsburgh, for $1.5 million. Rx Medical Services Corp., based in Florida, is Consolidated Health's parent company.
Mellon joins London bank in international trade deal
Mellon Bank N.A. and London-based Standard Chartered Bank are working together on a special network to expand international trade processing to Mellon's U.S. clients in Asia. This will allow Pittsburgh-based Mellon to take advantage of Standard's existing network hub and improve credit processing for import customers.
Heinz must wait to hire former Campbell exec
The H.J. Heinz Co. reached an agreement with the Campbell Soup Co. regarding the employment by Heinz of Daniel O'Neill, the former president of Campbell's U.S. soup and prepared foods unit. The deal calls for Mr. O'Neill to begin working for Heinz after seven months, on Sept. 15. The two companies have been litigating the validity of Campbells' 18-month noncompete contract with Mr. O'Neill.
NOXSO will fight involuntary bankruptcy petition
Pittsburgh-based NOXSO Corp., a maker of systems designed to cleanse flue gases from power plants, claims Olin Corp. has violated a preliminary injunction by continuing to operate a NOXSO-built facility in Tennessee. NOXSO plans to respond to an involuntary bankruptcy petition filed by creditors, including Olin, by next week. The involuntary bankruptcy petition was filed after Alcoa did not extend an agreement giving NOXSO more time to obtain financing for a flue gas system it was building for an Alcoa plant in Indiana.
USAir unions work to gain support for routes
Local USAir union leaders met with Pittsburgh Mayor Tom Murphy yesterday, to talk about the airline's pursuit of routes at London's Heathrow Airport. USAir is trying to serve that airport from Pittsburgh, Philadelphia, Charlotte and Boston. Representatives from the Association of Flight Attendants, the Air Line Pilots Association and the International Association of Machinists thanked the mayor for his support of the routes, encouraging even more work from civic leaders on the issue.
Action Industries took a $900,000 on Mazel deal
Action Industries Inc., once among Pittsburgh's largest companies, completed the $1.2 million sale of its promotional business to Cleveland-based Mazel Stores Inc. Action took a $900,000 loss on the deal, announced last September.
Texas developer plans Pittsburgh shopping center
Woodmont Corp., a Fort Worth, Texas developer, recently purchased 29 acres owned by Crucible Materials Corp. of Syracuse, N.Y. The price: $7.7 million. The land sits to the west of Pittsburgh. Woodmont plans to develop a shopping center on the land. Tenants will include Kohl's, Giant Eagle, Pep Boys and an AmeriSuites hotel.
USW, Wheeling-Pitt call latest talks `constructive'
The United Steelworkers of America and Wheeling-Pittsburgh Steel Corp., involved in their longest strike in a decade, met to discuss a number of issues in the labor dispute. Both parties are Pittsburgh-based and characterized the talks as frank and constructive. They have agreed to meet again in the near future to end the strike, which is 136 days old.
Pittsburgh mayor takes on utility in power struggle
Pittsburgh Mayor Tom Murphy, who is anxious to see competition among local utilities, released a study concluding that future residents of the city's two biggest development projects could save more than $1.5 million a year by dumping Duquesne Light Co. in favor of Allegheny Power Systems as their electricity provider. Mr. Murphy and APS have filed petitions with the PUC requesting that APS be allowed to supply power to the areas. The commission voted to allow consumers to choose their power providers when it deregulated the industry last year.
Workers accept cheaper health plan at struggling steel products company
Edgewater Steel Co. employees voted to switch to a cheaper health plan, a move that will save one-third of an estimated $85,000 a month the struggling company needs to remain open. The employees, members of United Steel Workers Local 1246, voted 117-77 in favor of the plan. Edgewater Steel is a Pittsburgh-area manufacturer of train wheels and rolled rings used for ball bearings.
Westinghouse spends $1.55 billion on cable stations
Westinghouse Electric Corp. is buying two cable stations from Gaylord Entertainment Co. for $1.55 billion. Combined 1996 revenue from The Nashville Network and Country Music Television topped $38 million. It marks Pittsburgh-based Westinghouse's first broadcasting acquisition since last summer's purchase of Infinity Broadcasting.
Mine Safety adopts shareholder rights plan
Mine Safety Appliances Co. of Pittsburgh has adopted a shareholder rights plan designed to deter coercive takeover tactics. The plan guards against tactics such as the accumulation of shares in the open market or through private transactions. The rights will be distributed as a dividend at the rate of one right for each share of MSA common stock, no par value, held by shareholders of record on Feb. 21, 1997. The rights will expire on Feb. 21, 2007. MSA is a provider of safety quality products.
Michael Baker bumps `96 earnings by 44 percent
Michael Baker Corp., Pittsburgh, reported a 44 percent increase in net income on revenue growth of 18 percent for 1996 compared to 1995. For 1996, Baker earned $4.2 million on revenue of $418 million. It earned $2.9 million on revenue of $355 million the year before. Company officials say the strong showing is due to investment in the development and application of new technology and improving key processes through total quality practices. Michael Baker provides engineering and construction services.
National Record Mart reports increased earnings
National Record Mart's earnings rose 52 percent for the third quarter of fiscal 1997, rising from $1.62 million last year to $2.46 million this year. Same store sales at the Pittsburgh-based music retailer increased by 5.75 percent during the same period. NRM, the eighth-largest specialty music retailer, operates 149 U.S. stores.
PDG wins contracts totaling $1.75 million
PDG Environmental Inc. has landed three contracts expected to bring in $1.75 million in revenue this year. The Pittsburgh asbestos abatement firm will perform the services out of its New York City location. The projects include work at an unoccupied former Westinghouse manufacturing facility in Bloomfield, N.J. Another is a $375,000 contract for asbestos abatement at a pharmaceutical manufacturing and research facility in Nutley, N.J. The third project is a renewal of a contract with a large telecommunications firm at various sites in New York.
First Western to raise cash with securities sale
First Western Bancorp Inc. has completed a sale of $25 million in securities. The debentures carry 9.87 percent interest and will be paid Feb. 1, 2027. Proceeds of the sale will be invested by First Western toward repurchases of First Western stock, investments into subsidiaries and financing future acquisitions. The bank holding company is based in the Pittsburgh region.
Northstar Health Services battle heating up
Northstar Health Services Inc. responded sharply to efforts by chief executive officer Thomas Zaucha to gain control of Northstar's board through a proxy battle. Mr. Zaucha has alleged, among other things, that certain Northstar board members have awarded themselves financially through lucrative consulting contracts with the Pittsburgh-based provider of rehabilitation services. Northstar said in a statement that Mr. Zaucha's proxy fight "is an attempt to return the company to its prior suspect management," referring to company founder Mark DeSimone. Mr. DeSimone was ousted from his post after Northstar's auditor resigned last March due to questions about the accuracy of the company's financial statements.
USX Corp. chairman to lead private financing effort
USX Corp. chairman Tom Usher will head a group that will lobby for regional development funds. Among the founding members of the Regional Renaissance Partnership are the Pittsburgh Pirates and the Pittsburgh Steelers, both teams that need help to either build new stadiums or make improvements. Along with stadiums, new entertainment, parking and transportation arteries, a $262 million expansion to the city's convention center is another priority for the group.
H.J. Heinz names slate of new division executives
H.J. Heinz Co. appointed Lelio Parducci corporate vice president, nutrition and technical affairs, and chief scientist. It also named Kent Kren president and chief executive of its Weight Watchers International division and Edgar Johnson president and chief operating officer of Starkist Seafood. The appointments are effective March 31.
Gas company opens retail subsidiary
Consolidated Natural Gas Co. has launched a new retail energy marketing subsidiary which it plans to locate in Downtown Pittsburgh. Peoples Energy will sell natural gas and electricity to homeowners, businesses and other energy users and employ up to 100 people. The company is considering several sites for its offices.
Alcoa sells Dayton Technologies unit to Belgium firm
Pittsburgh-based aluminum giant Alcoa is selling its Dayton Technologies Inc. subsidiary to Deceuninck Plastics Industries N.V., of Roeselare, Belgium. Dayton Technologies, based in Monroe, Ohio, is a producer of extruded profiles for the vinyl window and patio door markets. Dayton, which employs 300 people, also has operations that include raw material compounding and die design and production. Deceuninck designs and produces window and door systems and building profiles.
PPG Industries issues series of corporate notes
PPG Industries Inc. of Pittsburgh will issue $100 million of 6.25 percent notes, priced at 99.522 to yield 6.363 percent, due Feb. 15, 2002, as well as $100 million worth of 6.875 percent notes, priced at 99.933 to yield 6.882 percent, due Feb. 15, 2012. CS First Boston, Goldman, Sachs & Co. and J.P. Morgan Securities Inc. are co-managers of the offering. PPG is a global producer of coatings, glass, fiber glass and chemicals.
Carnegie Mellon wins $500,000 foundation grant
Carnegie Mellon University is among 10 recipients of the National Science Foundation's newly established Recognition Awards for the Integration of Research and Education. Each will be awarded a three-year $500,000 grant for the continuation of "innovative work built upon past achievements," the foundation said. Pittsburgh-based CMU's grant will support faculty efforts to use problem-solving as a vehicle for learning.
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