Roundup: Calgon Carbon $4.4M loss; Franklin Park to get first hotel; more
Calgon Carbon posts loss
Calgon Carbon Corp. recorded a loss of more than $4.4 million in the July-September quarter because of restructuring charges, said the Robinson Township-based company Friday. The results, equal to a loss of 8 cents a share, compared with year-ago profit of $14.5 million, or 25 cents a share. Calgon Carbon, which develops and makes air and water purification systems, booked an $8 million expense for restructuring during the period. It mainly consisted of $3.6 million in costs related to closing a plant in China and a $3.7 million charge from severance costs related to 86 voluntary job cuts worldwide last quarter. The local impact was not disclosed.
Developer plans hotel
Franklin Park may soon get its first hotel if the borough approves a proposal from the Forza Group of Bridgeville to build a 90-room Hampton Inn. A public hearing on the proposal is scheduled for Thursday by the Zoning Hearing Board. The hotel would be located on vacant ground, near the on-off ramps of Interstate 79 at 2622-24 Wexford Bayne Rd., said Ambrose Rocca, borough manager. The zoning will permit the hotel, he said. Principals of the Froza Group are Ashesh Patel, Dharmesh R. Surati and Vikash R. Surati.
Wendy's ends breakfast here
Breakfast menus will disappear from 40 company-owned Wendy's restaurants over the next week, as the chain ends a test in the Pittsburgh area that began in late 2010. Breakfast sandwiches and other fare will continue to be served in five other test cities, Wendy's spokesman Denny Lynch said Friday. Local franchised restaurants have stopped serving breakfast. The Pittsburgh test “ran its course” and the company isn't discussing financial results, he said. Lynch said the company-owned sites will adjust hours, with most opening at 10 a.m. That's not to say breakfast won't be served again at local Wendy's. “When we launch nationally, it will include Pittsburgh” but there's no timetable, Lynch said. The Wendy's Co. based near Columbus, has more than 6,500 company- and franchise-owned restaurants and is the world's third-largest quick-serve hamburger chain.
Honda to hire 200 in Ohio
Honda Motor Co., the No. 2 Asian automaker in U.S. light-vehicle sales, said it will spend $200 million on engine and transmission factories in Ohio and hire 200 workers there. The expansion of Honda's engine plant in Anna and a transmission factory in Russells Point is part of Honda's $1.2 billion in spending on U.S. plants the past two years, the company said. North America, which accounted for 44 percent of Honda Motor's revenue last fiscal year, is taking on a larger role for the Tokyo-based company. Honda's eighth auto plant in the region is being built in Mexico and, when it opens in 2014, will expand capacity to 1.92 million units from 1.63 million.
Supervalu to cut 700 at Shaw's
Supervalu is cutting 700 positions at grocery stores at a subsidiary in New England, two weeks after it posted a loss for the second quarter and said it was considering selling the company. Supervalu supplies Shop ‘n Save, Foodland and Kuhns, and operates a large distribution warehouse near New Stanton. The company said Friday that the job cuts will take place at 169 Shaw's and Star Market stores. Shaw's, with about 17,000 staffers, is one of the oldest supermarkets in the United States, dating to the 1860s. Supervalu Inc., based in Eden Prairie, Minn., fired its CEO in July after closing stores and suspending its dividend.
• Chevron Corp. said Friday its third-quarter net income fell 33 percent as production declined and it sold oil and gas at lower prices. The nation's second-largest oil company earned $5.25 billion, or $2.69 per share, in the July-September quarter. That compared with net income of $7.83 billion, or $3.92 per share, in the year-ago quarter. Revenue fell to $55.66 billion from $61.26 billion.
• Alpha Natural Resources Inc., the second-largest coal producer by sales, reported a narrower-than-expected third-quarter loss and said the domestic market for power-station coal has rebounded. The company had a third-quarter net loss of $46.1 million, or 21 cents a share, compared with net income of $62.6 million, or 28 cents, a year earlier. Sales fell to 29 percent to $1.63 billion from $2.31 billion, trailing the $1.68 billion average of 17 estimates.
Other business news
• The number of rigs actively exploring for oil and natural gas in the United States dropped this week by 26 to 1,800. Texas-based oilfield services company Baker Hughes Inc. said Friday that 1,373 rigs were exploring for oil and 424 were searching for gas. Three were listed as miscellaneous. A year ago, Baker Hughes listed 2,026 rigs. Texas dropped 20 rigs. Pennsylvania remained unchanged.
• Bayer Corp., Robinson Township, said the Bayer USA Foundation donated $150,000 to Hurricane Sandy disaster relief efforts. Half the money will go to the American Red Cross and half will go to Save the Children.
— Staff and wire reports