November 2, 2019 at 4:20 a.m.
Ardagh deal creates new company
Business roundup
Ardagh deal creates new company
Ardagh Group announced this week it had completed the combination of its metal packaging business with Exal Corporation, forming Trivium Packaging.
Ardagh now holds a 43% stake in Trivium. The other 57% is controlled by the Ontario Teachers’ Pension Plan Board.
As a result of the merger, Ardagh also received about $2.5 billion in cash, which it will use to pay down debt.
The company, which has glass container plants in Dunkirk and Winchester, reported third-quarter revenues of $2.377 billion, up 2%. Adjusted earnings per share were up 15%.
The company’s North America glass packaging division saw revenue up by 1% to $438 million in the third quarter, compared with the same period last year, principally reflecting increased selling prices to recover higher input costs
Paul Coulson, chairman and chief executive of Ardagh, will be chairman of Trivium. Michael Mapes, CEO of Exal, will be the new company's chief executive officer.
New hire
Erin Weirrick, Rockford, Ohio, has been hired as the new sales and marketing coordinator for Arts Place.
Weirrick holds a bachelor of arts degree from the University of Findlay. Her duties include creating digital and print promotions for Arts Place. In addition, she will act as house manager and corporate record keeper.
Prior to her employment at Arts Place, she was a student assistant, writing tutor and social media manager for the University of Findlay’s English department.
Time donated
Employees of Jay County REMC took part in a community day of service in October, working on projects at Swiss Heritage Village in Berne.
REMC staff built a new fence around the Luginbill home and painted the vestibule of Baumgartner Church.
Jay County REMC serves more than 5,000 members in Jay, Adams, Blackford, Delware, Randolph and Wells counties.
New beat
Samm Quinn, a former reporter for The Commercial Review, is moving to a new beat for Indianapolis Business Journal. She’ll be covering Indianapolis city government for the publication. She joined the IBJ staff in 2018.
A 2013 graduate of Franklin College, she has been honored for her journalism by the Hoosier State Press Association. While at The CR, she received a second place for best business/economic news coverage and a third place for community service from HSPA.
Serve safely
John Jay Center for Learning will offer its next ServSafe training Nov. 4.
The ServSafe certification course is open to all food service employees.
The program emphasizes safe food and beverage handling practices. Certifications are valid for five years.
For more information, contact John Jay Center for Learning at (260) 729-5525.
In the mail
The News-Banner of Bluffton is moving to mail-only delivery as of Nov. 9.
“Newspapers have not been immune to the employment struggle due in large part to the unprecedented years-long low unemployment rates. Mail delivery has become increasingly common as an option for newspapers to combat this problem,” The News-Banner said in announcing the change.
Big donation
First Financial Bancorp, the Cincinnati-based parent of First Financial Bank, has announced a $500,000 donation to the Decatur County Family YMCA and the Hospital Foundation of Decatur County.
The two organizations are expanding the wellness facility run by the YMCA and Decatur County Memorial Hospital in Greensburg.
“We’ve chosen to invest in this community because the people here make it a great place to do business,” Archie Brown, president and chief executive officer of First Financial, said in a prepared statement.
Upgrade planned
Indiana Michigan Power plans an approximately $22 million investment to upgrade the electric transmission network serving customers in Adams County.
The utility said the Monroe Area Transmission Line Rebuild Project upgrades about 10.5 miles of 69-kilovolt power line. The improvements are intended to provide a reliable flow of electricity for area customers and prepare the electric grid for economic growth.
The project involves rebuilding some sections of line in the company’s current right-of-way. Other sections of the project may include re-routes and require new easements.
I&M said it expects construction to begin in late 2020 and conclude by summer 2022.
Inn closed
The Inn at Versailles, a hotel and restaurant in Versailles, Ohio, will be closed for the indefinite future due to a fire in early October.
Owned by Midmark Corp., the historic inn is a regional attraction in western Ohio and eastern Indiana. The fire resulted in the evacuation of all guests, but not injuries were reported. Several fire departments were involved in fighting the fire.
First in the west
Bulldozers are working on an 800-acre site for Tyson Foods’ first meat packing facility west of the Rocky Mountains.
The plant, which will employ 800, is located in Eagle Mountain, Utah.
Tyson is the parent company of Tyson Mexican Original of Portland.
Store fought
A proposed Dollar General Store in rural Branch County, Michigan, has run into a roadblock.
News outlets reported this week that the Algansee Township Planning Commission voted 5-0 to reject a proposed rezoning for the store.
Dollar General already has three nearby stores in Bronson, Coldwater, and Quincy. The retailer has more than 500 stores in Michigan.
Up a bit
Mercer County, has for years had the lowest unemployment rate in Ohio, saw its jobless rate increase to 2.8% in September. That’s up from 2.7% in August.
According to The Daily Standard, Mercer has had Ohio’s lowest jobless rate since May 2016.
Darke County’s jobless rate in September was unchanged at 3.8%. Ohio’s rate for the month was 4.2%.
Yummy
Yum! Brands Inc., parent of Pizza Hut, KFC and Taco Bell, reported third quarter earnings of $255 million, down from $454 million in the same quarter last year.
Total revenue for the quarter dropped to $1.34 billion from $1.39 billion last year.
Bank sold
MutualFirst, the Muncie-based parent of MutualBank, is being sold to Northwest Bancshares of Warren, Pennsylvania.
The transaction has been valued at $346 million or $39.89 per share.
MutualBank operates 39 retail financial centers and reported assets of $2.1 billion as of Sept. 30.
Northwest Bancshares, is a full-service financial institution offering a complete line of business and personal banking products. Northwest operates 172 full-service community banking offices and ten free standing drive-through facilities in Pennsylvania, New York, and Ohio.
Profiled
Vivek Chaand Sehgal, founder of Motherson Sumi, has been profiled by Forbes as part of its coverage of India’s richest people.
Sehgal owns just over one-third of the company, parent of MSSL Wiring Systems of Portland.
Ardagh now holds a 43% stake in Trivium. The other 57% is controlled by the Ontario Teachers’ Pension Plan Board.
As a result of the merger, Ardagh also received about $2.5 billion in cash, which it will use to pay down debt.
The company, which has glass container plants in Dunkirk and Winchester, reported third-quarter revenues of $2.377 billion, up 2%. Adjusted earnings per share were up 15%.
The company’s North America glass packaging division saw revenue up by 1% to $438 million in the third quarter, compared with the same period last year, principally reflecting increased selling prices to recover higher input costs
Paul Coulson, chairman and chief executive of Ardagh, will be chairman of Trivium. Michael Mapes, CEO of Exal, will be the new company's chief executive officer.
New hire
Erin Weirrick, Rockford, Ohio, has been hired as the new sales and marketing coordinator for Arts Place.
Weirrick holds a bachelor of arts degree from the University of Findlay. Her duties include creating digital and print promotions for Arts Place. In addition, she will act as house manager and corporate record keeper.
Prior to her employment at Arts Place, she was a student assistant, writing tutor and social media manager for the University of Findlay’s English department.
Time donated
Employees of Jay County REMC took part in a community day of service in October, working on projects at Swiss Heritage Village in Berne.
REMC staff built a new fence around the Luginbill home and painted the vestibule of Baumgartner Church.
Jay County REMC serves more than 5,000 members in Jay, Adams, Blackford, Delware, Randolph and Wells counties.
New beat
Samm Quinn, a former reporter for The Commercial Review, is moving to a new beat for Indianapolis Business Journal. She’ll be covering Indianapolis city government for the publication. She joined the IBJ staff in 2018.
A 2013 graduate of Franklin College, she has been honored for her journalism by the Hoosier State Press Association. While at The CR, she received a second place for best business/economic news coverage and a third place for community service from HSPA.
Serve safely
John Jay Center for Learning will offer its next ServSafe training Nov. 4.
The ServSafe certification course is open to all food service employees.
The program emphasizes safe food and beverage handling practices. Certifications are valid for five years.
For more information, contact John Jay Center for Learning at (260) 729-5525.
In the mail
The News-Banner of Bluffton is moving to mail-only delivery as of Nov. 9.
“Newspapers have not been immune to the employment struggle due in large part to the unprecedented years-long low unemployment rates. Mail delivery has become increasingly common as an option for newspapers to combat this problem,” The News-Banner said in announcing the change.
Big donation
First Financial Bancorp, the Cincinnati-based parent of First Financial Bank, has announced a $500,000 donation to the Decatur County Family YMCA and the Hospital Foundation of Decatur County.
The two organizations are expanding the wellness facility run by the YMCA and Decatur County Memorial Hospital in Greensburg.
“We’ve chosen to invest in this community because the people here make it a great place to do business,” Archie Brown, president and chief executive officer of First Financial, said in a prepared statement.
Upgrade planned
Indiana Michigan Power plans an approximately $22 million investment to upgrade the electric transmission network serving customers in Adams County.
The utility said the Monroe Area Transmission Line Rebuild Project upgrades about 10.5 miles of 69-kilovolt power line. The improvements are intended to provide a reliable flow of electricity for area customers and prepare the electric grid for economic growth.
The project involves rebuilding some sections of line in the company’s current right-of-way. Other sections of the project may include re-routes and require new easements.
I&M said it expects construction to begin in late 2020 and conclude by summer 2022.
Inn closed
The Inn at Versailles, a hotel and restaurant in Versailles, Ohio, will be closed for the indefinite future due to a fire in early October.
Owned by Midmark Corp., the historic inn is a regional attraction in western Ohio and eastern Indiana. The fire resulted in the evacuation of all guests, but not injuries were reported. Several fire departments were involved in fighting the fire.
First in the west
Bulldozers are working on an 800-acre site for Tyson Foods’ first meat packing facility west of the Rocky Mountains.
The plant, which will employ 800, is located in Eagle Mountain, Utah.
Tyson is the parent company of Tyson Mexican Original of Portland.
Store fought
A proposed Dollar General Store in rural Branch County, Michigan, has run into a roadblock.
News outlets reported this week that the Algansee Township Planning Commission voted 5-0 to reject a proposed rezoning for the store.
Dollar General already has three nearby stores in Bronson, Coldwater, and Quincy. The retailer has more than 500 stores in Michigan.
Up a bit
Mercer County, has for years had the lowest unemployment rate in Ohio, saw its jobless rate increase to 2.8% in September. That’s up from 2.7% in August.
According to The Daily Standard, Mercer has had Ohio’s lowest jobless rate since May 2016.
Darke County’s jobless rate in September was unchanged at 3.8%. Ohio’s rate for the month was 4.2%.
Yummy
Yum! Brands Inc., parent of Pizza Hut, KFC and Taco Bell, reported third quarter earnings of $255 million, down from $454 million in the same quarter last year.
Total revenue for the quarter dropped to $1.34 billion from $1.39 billion last year.
Bank sold
MutualFirst, the Muncie-based parent of MutualBank, is being sold to Northwest Bancshares of Warren, Pennsylvania.
The transaction has been valued at $346 million or $39.89 per share.
MutualBank operates 39 retail financial centers and reported assets of $2.1 billion as of Sept. 30.
Northwest Bancshares, is a full-service financial institution offering a complete line of business and personal banking products. Northwest operates 172 full-service community banking offices and ten free standing drive-through facilities in Pennsylvania, New York, and Ohio.
Profiled
Vivek Chaand Sehgal, founder of Motherson Sumi, has been profiled by Forbes as part of its coverage of India’s richest people.
Sehgal owns just over one-third of the company, parent of MSSL Wiring Systems of Portland.
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