Business news briefs: ExOne buys two firms for $10M

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ExOne buys two firms for $10M

North Huntingdon 3-D printer The ExOne Co. has acquired two companies that will expand its capabilities. The company paid $4.8 million for MWT, a German company that makes industrial-grade microwaves that bind sand molds used to cast metal parts. In addition, it acquired Machin-a-Mation, a Chesterfield, Mich., specialty machine shop, for approximately $5 million.

Fedex moves into Texas site

Moon-based FedEx Ground is expanding its central Texas facility, moving into a new $33 million, 250,000-square-foot building in Pflugerville, near Austin, the company said in a release. FedEx Ground is a division of Memphis, Tenn.-based FexEx Corp.

Security firm settles with FTC

The home security company ADT reached a settlement with the Federal Trade Commission requiring it to prominently disclose any connections it has with people endorsing its products. As part of a crackdown on misleading endorsements, the FTC charged Boca Raton, Fla.-based ADT with deceiving consumers by misrepresenting that paid endorsements from safety and technology experts were independent reviews. Paid ADT spokespeople, who appeared on TV and radio news programs and talk shows across the country, were presented as impartial security experts, the agency said.

Identity theft tips released

The Consumer Federation of America released a new video and tips to help consumers avoid being victimized by identity theft. The "Get Smart" video and tips are available at www.consumerfed.org/idtheft.

Staples plans wide shutdowns

Staples will shut down more than 10 percent of its stores in North America by the end of next year. The nation's largest office-supply company said Thursday that it will close up to 225 North American stores as part of a plan to save about $500 million by the end of 2015. It had already closed dozens of stores in the past year. Staples would not elaborate on the number of jobs that are being cut, nor the locations of stores that will close.

Factory orders down 0.7%

Orders to U.S. factories fell 0.7 percent in January, the Commerce Department reported Thursday. Orders for core capital goods, a proxy for business investment, rose 1.5 percent in January.

Also in business ...

Strip District cancer diagnostic company RedPath Integrated Pathology Inc. has named Alan Fishman as chief financial officer. ... PPG Industries chairman and CEO Charles E. Bunch received compensation valued at $16.9 million last year, down 5 percent from 2012. His pay included restricted stock and options valued at $7.6 million and nonequity incentives of $4.2 million. ... Federated Investors said the Argentina-based subsidiary of Raymond James will market six of Federated's equity and fixed-income funds in Chile.


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