March 5, 2016 at 4:59 a.m.
Ardagh eyes another acquisition
Business roundup
Reuters news service reported this week that Ardagh Group, the packaging conglomerate that has glass container plants in Dunkirk and Winchester as well as North American headquarters in Muncie, is preparing a binding offer for the assets being divested by European drinks can makers Ball Corp. and Rexam.
Ardagh Group is competing against three private equity firms for the packaging plants up for sale, Reuters said this week.
The strong interest increases chances that Ball’s pending acquisition of Rexam will meet conditions set by antitrust authoritie, according to analysts.
Ball and Rexam have offered to sell 12 plants across Europe, ten of which make cans while two produce can ends. Four of the factories are in Germany and three in Britain.
Separately, Ball is selling about eight sites in the United States and several in Brazil, also due to antitrust concerns, Reuters said.
The world’s two largest beverage can makers by volume, Ball and Rexam, want to merge to better manage capital spending and cut costs.
The European Commission, however, launched an extensive review of the deal, fearing it could push up prices for companies and consumers.
The deal would be the most significant acquisition by Ardagh Group since its $1.7 billion agreement in 2013 to acquire Verallia North America, the U.S. jar unit of France’s Saint-Gobain, which was then parent of the Dunkirk plant. It had acquired the Winchester plant earlier as a part of its acquisition of Anchor Glass.
Ardagh had to shed a number of former Anchor plants to gain approval of the Verallia acquisition from anti-trust watchdogs.
Ratified
The Pittsburgh Post-Gazette reported this week that union members employed by specialty steelmaker Allegheny Technologies Inc. have agreed to a four-year contract that ends a six-month lockout at 12 facilities in six states, including plants in Midland and the Alle-Kiski Valley.
ATI is the parent company of Portland Forge.
The United Steelworkers union approved the deal by a 5-1 margin. The deal affects 2,200 workers.
The National Labor Relations Board, which had filed an unfair labor practices complaint against ATI, must still approve the contract deal, The Post-Gazette reported.
The most recent contract between ATI and the steelworkers had expired June 30. Negotiations between the company and the union had been contentious. When talks stalled, the company locked workers out Aug. 15.
A tentative agreement between ATI and the steelworkers was reached Feb. 22.
No deal yet
Reports last week that Motherson Sumi Systems Ltd., parent company of MSSL Wiring Systems of Portland, is planning another acquisition continue to be the subject of speculation in the business press.
Economic Times first reported the potential acquisition of International Automotive Components last week.
Economic Times quoted a Mumbai based analyst as saying, “Forty-four percent of Motherson’s revenues are linked to Volkswagen Group, and the market has punished the stock this year after the automaker was caught in the emissions software scandal.”
An editorial in IHS BusinessSupplier on Feb. 29 said, “A merger of these two companies, while not quite in the mega-supplier bracket, would still create a behemoth in automotive interiors. Both IAC and MSSL’s parent, Samvardhaha Motherson Group, are in the top 50 global suppliers. Their combined sales would push the group into the top 20.”
Motherson Sumi is focused on wiring harnesses, rearview mirrors, lighting systems, air intake manifolds and HVAC systems. The Portland plant manufactures wiring harnesses.
IAC’s portfolio includes door and trim systems, instrument panels, consoles, flooring, acoustic systems and headliner systems, analysts said.
Happy meal VR?
Wired reported this week that McDonald’s is test-marketing a crude version of a virtual reality headset as the prize in Happy Meals in Sweden.
Called Happy Goggles, the headset is made from a Happy Meal box.
Customers who buy one can access a link on their smartphone to retrieve the inaugural Happy Goggles VR game, a low fidelity animated skiing-racing game.
New brand
Tyson Fresh Meats, a division of Tyson Foods which is the parent company of Tyson Mexican Original of Portland, has debuted a new pork brand.
Named “Open Prairie Natural Pork,” the product is minimally processed, contains no artificial ingredients, and is from hogs raised under a no-antibiotics, no added hormones regimen.
Joins zone
Randolph County has become the 13 county to join Foreign Trade Zone, 182.
The zone already includes Jay, Adams, Allen, Blackford, DeKalb, Huntington, Noble LaGrange, Steuben, Wabash, Wells and Whitley counties.
A foreign trade zone allows U.S. companies to reduce, eliminate or defer U.S. customs duties on goods and materials.
On staff
Tara Fullenkamp, a 2002 graduate of Jay County High School, has joined the staff of Stammen Insurance in Celina, Ohio.
She holds a degree in family and child development from Ball State University and began her insurance career in 2015.
To retire
Rod Lautzenheiser, vice president and loan officer at First Bank of Berne’s main branch will retire on March 11 after 44 years of service.
A 1969 graduate of South Adams High School, he joined First Bank of Berne in 1971. He served as loan officer of the bank’s Portland branch for three years.
A graduate of the School of Banking at the University of Wisconsin-Madison, he has been active in the Berne community, serving 16 years on the city council and 12 years on the plan commission.
An open house will be held at the bank’s main branch in Berne from 2 to 6 p.m. on March 11.
The bank also announced that Sean LaFontaine has been promoted from cash management specialist to assistant vice president at the Berne banking center. He joined the bank in 2012 and holds a degree in business management from Huntington University.
EMT classes
Adams Memorial Hospital will be offering a basic EMT class beginning on April 4.
The class will meet on Monday and Wednesday evenings from 6 to 10 p.m. in the third floor classroom at the hospital in Decatur.
The course requirement is 160 hours and will be about six months long. The cost is $600 per student, which includes all books and classroom materials.
For more information, contact Ron Burns at (260) 724-2145, extension 4025.
New staff
Family LifeCare has added two new staff members. Jesse Hawbaker of Adams County has been hired as a registered nurse and case manager. Tonya Capper of Wells County has been hired as a certified nursing assistant.
Family LifeCare provides home care, hospice and palliative services in Jay, Adams, Allen, Grant, Huntington, Randolph Wabash, Wells and Whitley counties.
Ardagh Group is competing against three private equity firms for the packaging plants up for sale, Reuters said this week.
The strong interest increases chances that Ball’s pending acquisition of Rexam will meet conditions set by antitrust authoritie, according to analysts.
Ball and Rexam have offered to sell 12 plants across Europe, ten of which make cans while two produce can ends. Four of the factories are in Germany and three in Britain.
Separately, Ball is selling about eight sites in the United States and several in Brazil, also due to antitrust concerns, Reuters said.
The world’s two largest beverage can makers by volume, Ball and Rexam, want to merge to better manage capital spending and cut costs.
The European Commission, however, launched an extensive review of the deal, fearing it could push up prices for companies and consumers.
The deal would be the most significant acquisition by Ardagh Group since its $1.7 billion agreement in 2013 to acquire Verallia North America, the U.S. jar unit of France’s Saint-Gobain, which was then parent of the Dunkirk plant. It had acquired the Winchester plant earlier as a part of its acquisition of Anchor Glass.
Ardagh had to shed a number of former Anchor plants to gain approval of the Verallia acquisition from anti-trust watchdogs.
Ratified
The Pittsburgh Post-Gazette reported this week that union members employed by specialty steelmaker Allegheny Technologies Inc. have agreed to a four-year contract that ends a six-month lockout at 12 facilities in six states, including plants in Midland and the Alle-Kiski Valley.
ATI is the parent company of Portland Forge.
The United Steelworkers union approved the deal by a 5-1 margin. The deal affects 2,200 workers.
The National Labor Relations Board, which had filed an unfair labor practices complaint against ATI, must still approve the contract deal, The Post-Gazette reported.
The most recent contract between ATI and the steelworkers had expired June 30. Negotiations between the company and the union had been contentious. When talks stalled, the company locked workers out Aug. 15.
A tentative agreement between ATI and the steelworkers was reached Feb. 22.
No deal yet
Reports last week that Motherson Sumi Systems Ltd., parent company of MSSL Wiring Systems of Portland, is planning another acquisition continue to be the subject of speculation in the business press.
Economic Times first reported the potential acquisition of International Automotive Components last week.
Economic Times quoted a Mumbai based analyst as saying, “Forty-four percent of Motherson’s revenues are linked to Volkswagen Group, and the market has punished the stock this year after the automaker was caught in the emissions software scandal.”
An editorial in IHS BusinessSupplier on Feb. 29 said, “A merger of these two companies, while not quite in the mega-supplier bracket, would still create a behemoth in automotive interiors. Both IAC and MSSL’s parent, Samvardhaha Motherson Group, are in the top 50 global suppliers. Their combined sales would push the group into the top 20.”
Motherson Sumi is focused on wiring harnesses, rearview mirrors, lighting systems, air intake manifolds and HVAC systems. The Portland plant manufactures wiring harnesses.
IAC’s portfolio includes door and trim systems, instrument panels, consoles, flooring, acoustic systems and headliner systems, analysts said.
Happy meal VR?
Wired reported this week that McDonald’s is test-marketing a crude version of a virtual reality headset as the prize in Happy Meals in Sweden.
Called Happy Goggles, the headset is made from a Happy Meal box.
Customers who buy one can access a link on their smartphone to retrieve the inaugural Happy Goggles VR game, a low fidelity animated skiing-racing game.
New brand
Tyson Fresh Meats, a division of Tyson Foods which is the parent company of Tyson Mexican Original of Portland, has debuted a new pork brand.
Named “Open Prairie Natural Pork,” the product is minimally processed, contains no artificial ingredients, and is from hogs raised under a no-antibiotics, no added hormones regimen.
Joins zone
Randolph County has become the 13 county to join Foreign Trade Zone, 182.
The zone already includes Jay, Adams, Allen, Blackford, DeKalb, Huntington, Noble LaGrange, Steuben, Wabash, Wells and Whitley counties.
A foreign trade zone allows U.S. companies to reduce, eliminate or defer U.S. customs duties on goods and materials.
On staff
Tara Fullenkamp, a 2002 graduate of Jay County High School, has joined the staff of Stammen Insurance in Celina, Ohio.
She holds a degree in family and child development from Ball State University and began her insurance career in 2015.
To retire
Rod Lautzenheiser, vice president and loan officer at First Bank of Berne’s main branch will retire on March 11 after 44 years of service.
A 1969 graduate of South Adams High School, he joined First Bank of Berne in 1971. He served as loan officer of the bank’s Portland branch for three years.
A graduate of the School of Banking at the University of Wisconsin-Madison, he has been active in the Berne community, serving 16 years on the city council and 12 years on the plan commission.
An open house will be held at the bank’s main branch in Berne from 2 to 6 p.m. on March 11.
The bank also announced that Sean LaFontaine has been promoted from cash management specialist to assistant vice president at the Berne banking center. He joined the bank in 2012 and holds a degree in business management from Huntington University.
EMT classes
Adams Memorial Hospital will be offering a basic EMT class beginning on April 4.
The class will meet on Monday and Wednesday evenings from 6 to 10 p.m. in the third floor classroom at the hospital in Decatur.
The course requirement is 160 hours and will be about six months long. The cost is $600 per student, which includes all books and classroom materials.
For more information, contact Ron Burns at (260) 724-2145, extension 4025.
New staff
Family LifeCare has added two new staff members. Jesse Hawbaker of Adams County has been hired as a registered nurse and case manager. Tonya Capper of Wells County has been hired as a certified nursing assistant.
Family LifeCare provides home care, hospice and palliative services in Jay, Adams, Allen, Grant, Huntington, Randolph Wabash, Wells and Whitley counties.
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