PPG purchases Deft coatings firm
PPG Industries finalized its purchase of Deft Inc., a California-based company that makes specialty coatings for aerospace and industrial applications. Financial terms were not disclosed. Deft has 140 employees split between its Irvine, Calif., headquarters and a plant in Alliance, Ohio. The deal is the latest in a string of acquisitions PPG has made as part of its strategy to position coatings as its dominant business segment. The Downtown-based company in April closed on the purchase of the North American architectural coatings business of Dutch paints maker AkzoNobel for $1.05 billion.
Gasoline prices here remain steady
The cost of gasoline in Pittsburgh stayed static while prices nationwide went up this week, with the average price for a gallon of regular unleaded hitting $3.548. A comparable gallon nationwide cost $3.680, which is almost 10 cents higher than the cost one week ago, according to GasBuddy.com.
Boeing Dreamliner back in business
United Airlines is getting its Boeing 787s back in the air. The planes are flying again after being grounded for four months because of smoldering batteries on 787s owned by other airlines. Boeing Co. never did figure out the root cause of the battery incidents. Instead, it redesigned the battery and its charger.
L.L. Bean chairman will retire
L.L. Bean's grandson Leon Gorman, 78, is retiring as chairman after more than a half-century as chairman or CEO of the outdoors retailer. The Maine-based retailer said Monday that L.L.'s great-grandson Shawn Gorman, 47, will take over as chairman. Chris McCormick, the first CEO from outside the family, retains his position.
Seamless, GrubHub plan to merge
Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the U.S. Financial terms were not disclosed and it's unclear what the combined company will be called. GrubHub CEO Matt Maloney will become CEO, while Seamless CEO Jonathan Zabusky will serve as president, the companies said in a joint statement.
Also in business ...
Michael Baker won a five-year, $2.7 million contract from the Allegheny County public works department to rehabilitate the Roberto Clemente (Sixth Street), Andy Warhol (Seventh Street) and Rachel Carson (Ninth Street) bridges.