Business Briefs: 7/31/14


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Solera Holdings completes acquisition with PGW

Solera Holdings said it closed on its acquisition of the Insurance and Services Division of Pittsburgh Glass Works. Texas-based Solera provides software and services to the automobile insurance claims industry. North Side-based PGW’s division provides software and business tools to auto repair businesses specializing in glass claims.

Revenue for new cancer, heart drugs high

Sales of new drugs to treat cancer, eye and heart diseases, and strong revenues for its agricultural products helped boost Bayer Group’s second-quarter earnings. The Germany-based company said net income rose 13 percent, to 953 million euros ($1.27 billion) while worldwide sales edged up nearly 1 percent to 10.5 billion euros ($14 billion). Earnings before interest, taxes, depreciation, amortization and one-time special items (EBITDA) rose 1 percent to 2.2 billion euros, below analysts’ average estimate of 2.3 billion euros.

In North America, second-quarter sales totaled 2.7 billion euros, up 1.3 percent over the second quarter of 2013.

Economy grows at healthy 4 percent 

Offsetting a dismal start to the year, the economy grew at a sizzling annual rate of 4 percent from April through June, the Bureau of Economic Analysis reported Wednesday. Sluggish first-quarter growth had been knocked down to 2.9 percent after two revisions, and Wednesday that number was revised to 2.1 percent. Annualized growth over the past six months still amounts to a sub-par 1.9 percent.

Toyota keeps global lead over Volkswagen

Toyota maintained its global sales lead over Volkswagen in the year’s first six months on rising U.S. demand for SUVs. Deliveries for Toyota climbed 3.8 percent to 5.1 million vehicles in the first half, according to a company statement. By comparison, Volkswagen reported sales of 4.97 million units.

Hyundai recalls Sonatas to fix gear shift levers

Hyundai is recalling 883,000 Sonatas from the 2011 through 2014 model years to fix problems with the gear shift levers. The automatic transmission shift cable can separate from the shift lever, so the lever may not show the correct gear.

Also in business ...

Koppers Inc. said in a filing with the SEC that Brian McCurrie left the company effective July 25. He was most recently senior vice president, business development, and previously held other positions with the Downtown-based chemicals and wood products company.


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