Competitors are chasing Wal-Mart

Wal-Mart Stores Inc. saw a profit increase of 9 percent in the third quarter, but U.S. competitors are closing the gap in the sales numbers.
The company posted an earnings increase but U.S. Walmart sales fell 1.3 percent compared to a year earlier. Profits were boosted by international sales and Sam’s Club locations.
This quarter is the sixth in a row for falling Walmart sales as major competitors like Target continue to challenge the world’s largest retailer.

Metal purchase
Allegheny Technologies Incorporated announced that it will acquire Ladish Co., Inc. in a $778 million deal.
Ladish is a leading producer of advanced metal components for jet engines, aerospace and industry markets.
The company expects to post sales of $400 million in 2010.
ATI owns the Portland Forge.

Wind interest
A Chicago-based wind energy company held a meeting with members of local government and residents of the Union City, Ohio, area about a possible development near the town.
A representative from Invenergy fielded questions from attendees of the meeting and discussed the possibility of a 125-turbine development. If the project continues on schedule, construction of the wind farm could begin in 2012.
The Ohio state government has mandated that 25 percent of all electricity for the state must be generated by alternative energy by 2025.

Acquired
Saint-Gobain Glass recently acquired a 50 percent stake in SAGE Electrochromics for large-scale manufacturing of electrochromic glass.
Electrochromic glass adjusts its tint based on light and heat in order to reduce heating and cooling costs.
Saint-Gobain and SAGE started construction on the first large-scale glass plant in Faribault, Minn., this month.
The $135 million plant will manufacture glass panes up to 5-foot by 10-foot.
The company will market the new product as QUANTUM GLASS.

Outlook luncheon
First Merchants Bank and Ball State University are sponsoring the 2011 Indiana Economic Outlook Luncheon Dec. 8 with keynote speaker Lt. Gov. Becky Skillman.
The event will take place from 11:30 a.m. to 1:30 p.m. at the Horizon Convention Center, Muncie.
Registration information will be available at a later date.
Speech
ATI chairman and CEO L. Patrick Hassey spoke at the Dahlman Rose First Annual Global Metals, Mining and Materials Conference in New York City.
Hassey spoke Wednesday at the conference. Hassey’s remarks and presentation slides are available at www.atimetals.com.[[In-content Ad]]