Calgon Carbon reported a third-quarter loss of $4.5 million, citing $8 million in restructuring costs that included closing an activated carbon plant in China. Sales fell 6 percent. The loss, which the Robinson environmental services firm forecast Oct. 18, amounted to 8 cents per share and came on sales of $135.5 million. In the year-ago quarter, the company earned $14.5 million, or 25 cents per share, on sales of $143.6 million. The restructuring charges included $3.7 million for severance and $3.6 million related to the closing of the plant in Datong, China.
Altoona, Blair County, convenience store chain Sheetz Inc. is shifting toward a new generation of family leadership, with management changes planned to take place next year at the 60-year-old business. Joe S. Sheetz, now executive vice president of finance and store development, will become president and CEO at the end of the fiscal year in October 2013. Stan Sheetz, who has held those positions for 17 years, will become chairman. The business, founded in 1952, reported more than $6.3 billion in 2012 revenue. It has more than 400 convenience stores across six states.
USS-Posco Industries, a joint venture between U.S. Steel and South Korean steel producer Posco, announced the retirement of president Robert R. Smith, who has held the post since 1998.
Pittsburgh-based Cohera Medical Inc. has received FDA approval for the pre-clinical testing profile of its surgical adhesive TissuGlu Surgical Adhesive. The approval will cover extensive biocompatibility and toxicological testing.
Mylan is recalling 24,331 bottles of 100-count doxazosin tablets because tests showed possible cross contamination, according to the Food and Drug Administration's latest enforcement report. The tablets, made for Mylan by Alphapharm in Australia, have a lot number of A 303M. The nationwide recall was initiated Aug. 7 and is ongoing, the FDA said. Doxazosin is used to treat symptoms of an enlarged prostate.
Hyundai Motor Co. and Kia Motors Corp., whose growth has been aided by 40-mile-per-gallon claims, will compensate U.S. customers for overstating the fuel efficiency of their latest models. The Seoul-based affiliates also must relabel the window stickers on their cars and trucks, the U.S. Environmental Protection Agency said Friday. The automakers will issue debit cards to buyers of about 900,000 vehicles sold in the U.S. in the past two years to reimburse them for higher-than-expected fuel expenses. The companies said the overstatement resulted from "procedural errors" at their testing facility in South Korea.businessnews