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TreeHouse's appetite grows
TreeHouse Foods Inc., which makes baby food and soup in the former H.J. Heinz plant on the North Side, yesterday announced its third acquisition in the past three months. This time, the company based in Westchester, Ill., will pay about $203 million, plus the assumption of debt, for the assets of E.D. Smith & Sons, an Ontario company that makes a variety of branded and private label products, including jams, pie fillings, ketchup, pasta sauces, salsa and salad dressing. The deal, which must be approved by investors in the E.D. Smith Income Fund, is expected to close in the third quarter.
Giant Eagle, union in accord
O'Hara grocer Giant Eagle and a union representing workers at area stores reached a tentative agreement last week on a new contract. Meetings were scheduled yesterday and today for members of United Food and Commercial Workers Local 23 to discuss and vote on the offer, according to the union's Web site. The announcement said leadership on both sides recommend approval of the agreement, which would last for three years would cover 5,100 workers in 36 stores.
PPG looks for another coat
Barloworld Ltd., a South African company, may be close to selling its Australian coatings business to PPG Industries, wire services reported yesterday. The sale would be part of Barloworld's restructuring efforts to divest noncore and under-performing assets and focus on its construction equipment and motors business. PPG, which has been targeting acquisitions in its coatings and optical units, declined to comment.
Also in business ...
Mylan Laboratories received final approval from the Food and Drug Administration for its abbreviated new drug applications for ondansetron hydrochloride tablets and ondansetron tablets, the generic versions of GlaxoSmithKline's Zofran. The drug is a treatment for nausea associated with cancer treatments ... Northwest Savings Bank, Warren, said it acquired five CSB Bank offices in Clearfield, Coalport, Curwensville, DuBois and St. Marys. Terms weren't disclosed ... Calgon Carbon Corp. said it was awarded a contract by Jiaxing Jiayuan Water Co. to supply 1.1 million pounds of granular activated carbon to the Jiaxing Nanjiao water plant in China for drinking water purification. Terms of the deal were not disclosed.
First Published June 25, 2007 8:03 pm
