Gasoline prices up sharply

A conflict in the Middle East, a refinery shutdown in the U.S. Midwest and the summer driving season are conspiring to boost gasoline prices across the nation. The average price of a gallon of regular at local self-serve pumps jumped by 7 cents this week to $2.959, AAA East Central reported yesterday. According to AAA's nationwide survey, the price of a gallon of gasoline has risen 15 cents in the past month to $2.997.

Nova venture to close plant

Nova Chemicals said its Nova Innovene joint venture will close a polystyrene plant in Carrington, United Kingdom, in October. Up to 82 jobs will be eliminated and Nova expects the closure to reduce the joint venture's costs by about $14 million per year. Nova will take after-tax charges of $43 million in the third quarter related to the shutdown. Nova Innovene is a 50-50 joint venture with British chemical maker Ineos. The closure and job cuts are not part of Nova's planned restructuring, which will result in the elimination of 375 jobs companywide.

Businesswomen at Chatham

Chatham College's Center for Women's Entrepreneurship will launch a series of roundtable discussions for women business owners beginning in August. The Peer Learning program will be limited to 12 women who will meet monthly over lunch to discuss issues such as capital, managerial skills and growth challenges. A silver level group will be for women whose businesses have $500,000 to $1 million in sales, and a gold level will include those with sales exceeding $1 million. To register online, go to www.chatham.edu/ccwe.

Westinghouse buys stake

Westinghouse Electric Co. said yesterday it completed the purchase of the minority stake in PaR Nuclear, its fuel handling subsidiary. With the purchase, Westinghouse has 100 percent ownership of the business, which has 130 employees at operations in Shoreview, Minn., and Seattle. Prior to the purchase, Westinghouse had an 81 percent interest. Terms of the deal weren't disclosed.

Also in business ...

Mylan Laboratories said it received approval from the Food and Drug Administration to market two additional strengths of its estradiol transdermal systems, the generic version of Berlex's Climara transdermal systems. The patches are for the treatment of the symptoms of menopause ... The Manitowoc Crane Group is receiving $600,000 in state funding as part of a $20.2 million renovation and expansion of its operations in Shady Grove, Franklin County. The company, which employs 1,559 at the complex, plans to add 241 jobs in the next three years ... Allegheny Technologies announced price increases of about 6 percent on stainless steel sheet and strip products and a 5 percent increase for plate products. The prices take effect Aug. 7. ... Steel imports increased 33 percent in the first half to 22.3 million tons, the American Iron and Steel Institute reported.