February 10, 2017 at 9:53 p.m.
Ohio Valley Gas seeks rate hike
Business Roundup
Ohio Valley Gas, which serves the Portland area, has filed for a rate increase with the Indiana Utility Regulatory Commission.
But the amount of the requested increase won’t be known until the Winchester-based utility files its second notice with the IURC.
The initial notice was filed Dec. 15, and gas customers were alerted by mail this week.
Once the filings are complete, the IURC will schedule a public hearing at which Ohio Valley Gas will have to show that the new rates are justified.
Store closing
Decatur’s Walgreens store will close at the end of the month, The Decatur Daily Democrat reported this week.
While no formal announcement has been made, the Democrat said store employees had been informed of the closing decision.
“It’s too early to talk about future plans, Adams County Economic Development directo Trevor Hobbs told the newspaper. “We’ll need to take a look at what’s out there and what the needs of the community are.”
Price jumps
The share price of Allegheny Technologies Inc., parent company of Portland Forge, jumped more than 36 percent in January, Fox Business reported this week. The price jump was tied to a better than expected fourth-quarter sales.
“Market trends are starting to be less of a headwind for Allegheny's business and cost-cutting is helping the bottom line,” Fox Business said. “And with hope that the economy is in good shape and infrastructure spending is going to increase, there’s hope that the future is bright.”
New initiative
Ardagh Group, parent company of glass container plants in Dunkirk and Winchester, is launching a new initiative for vineyards in the American northwest that allows winemakers to buy their bottles directly from the company.
The initiative targets smaller vineyards and allows winemakers to order bottles in “less than truckload” quantities.
Ardagh is already the largest producer of wine bottles for the U.S. market. Its Dunkirk plant is known for its large-scale production of longneck beer bottles for Budweiser.
Joins Farmweld
Chad Towell of Portland has joined Illinois-based Farmweld as it moves into the Indiana and Ohio pork-producing market.
Towell, who has experience raising commercial hogs as well as show pigs, will consult with producers on both new hog barns and remodeling existing barns.
Farmweld is a major producer of equipment for swine producers and is based in Teutopolis, Illinois.
Collusion probe
Tyson Foods Inc., parent company of Tyson Mexican Original of Portland, acknowledged this week that the Securities and Exchange Commission is investigating accusations of collusion in the chicken industry.
The investigation is apparently related to the allegations contained in antitrust litigation involving broiler chickens. “The Springdale, Arkansas-based company and its largest competitors have been named as defendants in a series of lawsuits in recent months that claim the industry colluded starting in 2008 to drive prices higher, allegations denied by Tyson and the other producers,” Bloomberg reported.
Tyson has said it is cooperating with the investigation, which is believed to be at an early stage.
Meanwhile, the company reported first quarter results that show an earnings increase of 38 percent.
The quarterly report show sales of $9.1 billion and net income of $593 million. Net income per share was $1.59.
“The year is off to the best start in company history with record earnings, record operating income and record cash flows,” Tom Hayes, president and chief executive officer of Tyson Foods, said in a press release.
Good year
MainSource Financial Group, parent company of MainSource Bank, has reported full-year income in 2016 of $38.3 million, up from $35.5 million in 2015.
The bank holding company reported fourth quarter net income of $11.7 million, up from $9.1 million during the same period in 2015.
The company also announced that Kathleen Bardwell has been appointed lead director for the board, succeeding Charles Thayer, who will retire in May.
Joins ASG
Joe Frank has been named vice president of policy and compliance for Alliance for Strategic Growth Inc., which is involved in “data-driven workforce solutions” in east central Indiana in conjunction with the Easter Indiana Workforce Development board.
Frank received his undergraduate degree from Ball State University and is completing a graduate degree in public administration from Indiana University.
He has served the Indiana Department of Workforce Development as a policy analsyst, director of communications, and deputy commissioner of public affairs.
Hits milestone
POET’s biorefining facility in Chancellor, South Dakota reached a production milestone of 1 billion gallons of high-quality ethanol in 2016, the company announced this week. The facility was also the first POET plant to hit 500 million gallons, a benchmark achieved in 2011.
POET Biorefining-Portland has been in operation more than 10 years.
“Our team in Chancellor does a fantastic job and has been very aggressive in driving efficiency and optimizing operations since plant first opened in 2003,” POET chief executive officer Jeff Broin said in a prepared statement. “We have expanded the plant, and with innovation and hard work the team is now producing 110 million gallons of ethanol annually at this plant, creating a
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Continued from page 5
highly important local market for corn and adding over $185 million to the South Dakota GDP.”
The Chancellor plant uses more than 100,000 bushels of corn per day and is equipped with technology that allows the facility to use green energy derived from solid waste and methane gas from the nearby Sioux Falls city landfill.
Closing date
The sale of the former school property at U.S. 27 and Indiana 218 will be closed on Feb. 15, according to South Adams Schools superintendent Scott Litwiller.
Biggs Indiana Properties LLC is purchasing the land for $475,000 with support from the Berne Community Development Commission.
But the amount of the requested increase won’t be known until the Winchester-based utility files its second notice with the IURC.
The initial notice was filed Dec. 15, and gas customers were alerted by mail this week.
Once the filings are complete, the IURC will schedule a public hearing at which Ohio Valley Gas will have to show that the new rates are justified.
Store closing
Decatur’s Walgreens store will close at the end of the month, The Decatur Daily Democrat reported this week.
While no formal announcement has been made, the Democrat said store employees had been informed of the closing decision.
“It’s too early to talk about future plans, Adams County Economic Development directo Trevor Hobbs told the newspaper. “We’ll need to take a look at what’s out there and what the needs of the community are.”
Price jumps
The share price of Allegheny Technologies Inc., parent company of Portland Forge, jumped more than 36 percent in January, Fox Business reported this week. The price jump was tied to a better than expected fourth-quarter sales.
“Market trends are starting to be less of a headwind for Allegheny's business and cost-cutting is helping the bottom line,” Fox Business said. “And with hope that the economy is in good shape and infrastructure spending is going to increase, there’s hope that the future is bright.”
New initiative
Ardagh Group, parent company of glass container plants in Dunkirk and Winchester, is launching a new initiative for vineyards in the American northwest that allows winemakers to buy their bottles directly from the company.
The initiative targets smaller vineyards and allows winemakers to order bottles in “less than truckload” quantities.
Ardagh is already the largest producer of wine bottles for the U.S. market. Its Dunkirk plant is known for its large-scale production of longneck beer bottles for Budweiser.
Joins Farmweld
Chad Towell of Portland has joined Illinois-based Farmweld as it moves into the Indiana and Ohio pork-producing market.
Towell, who has experience raising commercial hogs as well as show pigs, will consult with producers on both new hog barns and remodeling existing barns.
Farmweld is a major producer of equipment for swine producers and is based in Teutopolis, Illinois.
Collusion probe
Tyson Foods Inc., parent company of Tyson Mexican Original of Portland, acknowledged this week that the Securities and Exchange Commission is investigating accusations of collusion in the chicken industry.
The investigation is apparently related to the allegations contained in antitrust litigation involving broiler chickens. “The Springdale, Arkansas-based company and its largest competitors have been named as defendants in a series of lawsuits in recent months that claim the industry colluded starting in 2008 to drive prices higher, allegations denied by Tyson and the other producers,” Bloomberg reported.
Tyson has said it is cooperating with the investigation, which is believed to be at an early stage.
Meanwhile, the company reported first quarter results that show an earnings increase of 38 percent.
The quarterly report show sales of $9.1 billion and net income of $593 million. Net income per share was $1.59.
“The year is off to the best start in company history with record earnings, record operating income and record cash flows,” Tom Hayes, president and chief executive officer of Tyson Foods, said in a press release.
Good year
MainSource Financial Group, parent company of MainSource Bank, has reported full-year income in 2016 of $38.3 million, up from $35.5 million in 2015.
The bank holding company reported fourth quarter net income of $11.7 million, up from $9.1 million during the same period in 2015.
The company also announced that Kathleen Bardwell has been appointed lead director for the board, succeeding Charles Thayer, who will retire in May.
Joins ASG
Joe Frank has been named vice president of policy and compliance for Alliance for Strategic Growth Inc., which is involved in “data-driven workforce solutions” in east central Indiana in conjunction with the Easter Indiana Workforce Development board.
Frank received his undergraduate degree from Ball State University and is completing a graduate degree in public administration from Indiana University.
He has served the Indiana Department of Workforce Development as a policy analsyst, director of communications, and deputy commissioner of public affairs.
Hits milestone
POET’s biorefining facility in Chancellor, South Dakota reached a production milestone of 1 billion gallons of high-quality ethanol in 2016, the company announced this week. The facility was also the first POET plant to hit 500 million gallons, a benchmark achieved in 2011.
POET Biorefining-Portland has been in operation more than 10 years.
“Our team in Chancellor does a fantastic job and has been very aggressive in driving efficiency and optimizing operations since plant first opened in 2003,” POET chief executive officer Jeff Broin said in a prepared statement. “We have expanded the plant, and with innovation and hard work the team is now producing 110 million gallons of ethanol annually at this plant, creating a
See Business page 6
Continued from page 5
highly important local market for corn and adding over $185 million to the South Dakota GDP.”
The Chancellor plant uses more than 100,000 bushels of corn per day and is equipped with technology that allows the facility to use green energy derived from solid waste and methane gas from the nearby Sioux Falls city landfill.
Closing date
The sale of the former school property at U.S. 27 and Indiana 218 will be closed on Feb. 15, according to South Adams Schools superintendent Scott Litwiller.
Biggs Indiana Properties LLC is purchasing the land for $475,000 with support from the Berne Community Development Commission.
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