Business news briefs for 04/12/11
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Columbia Gas of Pennsylvania Inc. will pay out $35.7 million in credits to customers due to a change in how the company values the gas it holds in storage. The average customer will receive $45 in credits over the next five months. The credits will start appearing on bills between this month and September. The credits count toward gas payments made to the Canonsburg-based utility company between April and September of 2010. The state Public Utility Commission approved the credit after Columbia Gas changed its accounting to average the prices of all its gas in storage. Its previous model, a "Last In, First Out" method, made older and cheaper gas inaccessible in storage.
The last remaining piece of the old National Tube works in McKeesport is about to be taken over again by U.S. Steel. The plant, which manufactures pipe, is now operated by Camp-Hill Corp. but is being acquired by U.S. Steel Tubular Products as of May 1, said U.S. Steel spokeswoman Erin DiPietro.
Wabtec Corp. said Monday that it had signed a contract to build 22 new locomotives for CBH Group, a leading transporter of grain in Australia. The cost of the locomotives was not given. The locomotives will be built by a subsidiary of Wabtec called MotivePower. The locomotives are scheduled to be delivered next year. Under the contract, MotivePower said it will build a combination of standard- and narrow-gauge locomotives that will be among the most fuel-efficient and environmentally friendly models in Australia.
First Published April 12, 2011 12:00 am
