Monaca plant reopens production lines
EveryWare Global said it restarted three of six production lines at its Anchor-Hocking plant in Monaca after lenders gave the tabletop and food preparation products maker additional time to cure a default on its loan. The company idled the Monaca plant as well as one in Lancaster, Ohio, on May 15 in order to preserve cash and work off inventory while it negotiated with lenders. The company did not disclose how many of its approximately 2,000 employees were affected by the shutdown. The company has not determined when the rest of the Monaca plant and the Ohio plant will be restarted.
Caolgon Carbon heading to Moon
Calgon Carbon will move its headquarters to Moon early next year after signing a 15-year lease for more than 75,000 square feet at the new Westpointe Corporate Center Four. About 200 employees, including executive staff and research and development personnel, will make the move. The lease on the environmental products and services company’s current headquarters in Robinson expires in February, a spokeswoman said.
Downtown firm reaches milestone
Fragasso Financial Advisors, Downtown, announced it recently passed the $1 billion milestone for client assets where the firm provides management or other services. The financial planning firm founded by chairman and CEO Robert Fragasso has been in practice for 42 years.
Myland, Pfizer reach agreement
Mylan Inc. said it reached a settlement and license agreement with Pfizer Inc. to begin selling the generic version of the arthritis medication Celebrex no later than December of this year.
NHTSA investigating Chrysler air bag recall
National Highway Traffic Safety Administration regulators are investigating whether a recall to fix air bags on nearly 745,000 Chrysler SUVs is working properly. The company recalled older-model Jeep Grand Cherokees and Libertys in 2012 because the air bags could inflate without a crash. But since the recall, the company has received six reports of air bags inflating without a crash on SUVs that had the recall repairs.
Construction spending up 0.2 percent in April
Construction spending rose 0.2 percent in April to a seasonally adjusted annual rate of $953.5 billion, the strongest performance since March 2009, the Commerce Department said Monday.
Manufacturing growth missed forecast in May
Manufacturing in the U.S. expanded at a slower pace than forecast in May. The Institute for Supply Management’s factory index fell to a three-month low of 53.2 from the prior month’s 54.9, the Tempe, Arizona-based group’s report showed Monday.
Also in business ...
The Juicy Couture store at Ross Park Mall has closed as part of parent company Kate Spade’s wind-down of the business nationally. Gifted Hands, a local jewelry maker will fill the space temporarily, according to the mall.
From staff and wire reports