Siemens to Make $440M In-Kind Grant to YSU
Wednesday, May 29, 2013YOUNGSTOWN, Ohio -- Officials with Siemens Corp. will be at Youngstown State University tomorrow to formally announce a $440 million in-kind grant to prepare its students for advanced manufacturing and engineering jobs through a collaboration with the National Additive Manufacturing Innovation Institute.
V&M Star to Adopt Vallourec Branding, Identity Strategy
Wednesday, May 29, 2013YOUNGSTOWN, Ohio – V&M Star will adopt the name of its France-based parent company, Vallourec, as part of a companywide branding and identity strategy, the company announced. Effective June 1, V&M here will be known as Vallourec Star.
The branding will incorporate a modernization of the Vallourec logo. Designed in 1974, the logo evokes the group’s tubular products while forming its first initial, “V.” The company is dedicating its new seamless mill here in two weeks.
Cortland Bancorp Trumpets Diversity at Annual Meeting
Wednesday, May 29, 2013VIENNA, Ohio – Cortland Bancorp enjoyed net income of $2.9 million during 2012, as the company continues to diversify its services, grow its loan portfolio and expand its footprint across Ohio, its president and CEO, James M. Gasior, told shareholders Tuesday during the company's annual meeting.
Were it not for an impairment charge of $1.9 million during the fourth quarter, net income would have been even better.
UCFC Shareholders Approve Capital-Raise Measures
Wednesday, May 29, 2013YOUNGSTOWN, Ohio -- Shareholders of United Community Financial Corp. Tuesday overwhelmingly approved the conversion of $21.8 million in preferred shares to common shares and granting their directors the rights to buy $2.1 million in common shares at $2.75 each.
Shares of UCFC were trading at $3.99 when markets opened yesterday and while the stock price rose to $4.04 during the day, it closed at $3.99.
'3 Minutes With' Rick Schiraldi, UCFC Chairman
Wednesday, May 29, 2013YOUNGSTOWN, Ohio -- In today's "3 Minutes With" video, Rick Schiraldi, chairman of Home Savings & Loan Co., discusses the votes that took place at Tuesday’s special shareholder meeting and future prospects for the bank holding company (READ STORY).
Halcón Reports Utica Operating Results
Wednesday, May 29, 2013YOUNGSTOWN, Ohio -- The CEO of Houston-based Halcón Resources Corp. reports the energy exploration company is “excited with our early stage Utica/Point Pleasant results” and its “focus remains on building an inventory of approved/permitted multi-well pads in preparation for a full scale development program.”
Floyd C. Wilson offered the upbeat assessment in a prepared statement released last week as part of Halcón’s operational update.
Trumbull United Way Names Pasha New CEO
Wednesday, May 29, 2013WARREN, Ohio -- Ginny Pasha will succeed Tom Krysiek as chief executive officer of the United Way of Trumbull County, the agency’s board of director announced Tuesday. Pasha will be introduced at the United Way of Trumbull County’s annual meeting Thursday at Leo’s Ristorante, when Krysiek will retire after 30 years of service.
OSHA Cites Quality Trailer Enterprise Inc.
Wednesday, May 29, 2013SALEM, Ohio -- The U.S. Department of Labor’s Occupational Safety and Health Administration cited Quality Trailers Enterprise Inc. with 15 safety violations at its trailer manufacturing facility here. Proposed fines from the violations, including a lack of personal protective equipment and exposing workers to machine guarding hazards, total $55,300, the agency said.
The violations stem from a Feb. 4 complaint inspection, according to OSHA. An individual at the company said Dennis Gardner, president, was not available for comment Tuesday afternoon.
Sales of Luxury Homes Hit 6-Year High
Wednesday, May 29, 2013SEATTLE -- The U.S. housing market has shown clear signs of recovery in the last year, but the market for homes priced at $1 million and above has rebounded at an even faster rate, says Redfin, a technology-powered real estate broker based here.
From the first quarter of 2012 to the first quarter of this year, sales of these residences rose 34% compared to an increase of just 5% for the market as a whole over the same period.
Brown, Portman Seek Protection for OCTG
Tuesday, May 28, 2013WASHINGTON -- Ohio's two U.S. senators called on the U.S. Department of Commerce to protect Ohio-based companies including V&M Star in Youngstown from illegal Chinese trade practices by maintaining duties on Chinese steel pipe imports.