Business news briefs: Coraopolis plant closing

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Coraopolis plant closing

American Bridge is closing its Coraopolis plant and laying off all 77 workers. The company -- whose engineering landmarks include the San Francisco-Oakland Bay Bridge, the Chrysler Building and the gates for the Panama Canal -- told the state Department of Labor and Industry that the layoffs will begin on or about Dec. 9 and will take several weeks.

Area home price increases

Pittsburgh-area homebuyers spent 15.4 percent more on real estate -- $3.75 billion on 21,547 homes -- in the first nine months of this year, compared to $3.25 billion spent on 19,475 homes in the first nine months of last year, according to RealStats, a South Side-based real estate information service. The average price of a home in the five-county region that includes Allegheny, Beaver, Butler, Washington and Westmoreland counties stood at $173,868, compared to $166,727 for the first nine months of 2012.

FNB completes PVF takeover

FNB Corp., based in Hermitage, said it completed the takeover of PVF Capital Corp., parent company of Park View Federal Savings Bank in Solon, Ohio. FNB now operates 29 offices in Ohio, including 18 in the greater Cleveland area.

Siemens plans sale of division

Siemens AG, Europe's largest engineering company, plans to sell its water technologies division to AEA Investors as it focuses on higher-margin businesses, according to people familiar with the matter. The deal may value the unit, based in Warrendale, at about $800 million and could be announced this week. Siemens and AEA, a New York-based private-equity firm, declined to comment.

FedEx hiring for Neville site

Moon-based FedEx Ground announced Tuesday it will hire about 100 part-time package handlers at its Neville Island facility in preparation for the upcoming holiday season. The division is part of Memphis, Tenn.-based FedEx Corp.

Ameriserv Q3 net income up

Ameriserv Financial, based in Johnstown, Pa., reported net income for the third quarter rose 11 percent to $1.17 million from $1.06 million in the same period last year. Per-share profit rose 20 percent to 6 cents from 5 cents.

Apple recruits Burberry CEO

Apple said Tuesday that Burberry CEO Angela Ahrendts, who used technology to drive a turnaround at her luxury fashion house, will take charge of the company's expansion plans and retail operation next spring. Meanwhile, Apple is holding an event in San Francisco next Tuesday to announce new products -- likely updated iPads.


First Published October 15, 2013 8:00 PM


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