Local News

Friday, August 8, 2014

CLEVELAND -- Parker Hannifin Corp. reports fiscal year 2014 net income of $1,041 million, or $6.87 per diluted share. This compares with net income of $949 million, or $6.25 per diluted share, for fiscal 2013. Sales were a record $13.2 billion for fiscal 2014, up from $13 billion in the previous year. Cash flow from operations for fiscal 2014 was $1.4 billion, or 10.5% of sales, compared with $1.2 billion, or 9.1% of sales, in the prior year. Excluding a discretionary contribution to the company's pension plan of $75 million in fiscal 2014, cash flow from operations...

Friday, August 8, 2014

WARREN, Ohio -- Warren Steel Holdings resumed operations Thursday, following approval by state utility regulators of an arrangement that will allow it to pay reduced electric rates. The company shut down in late March, explaining that high energy costs made it uncompetitive, according to documents filed in June with the Public Utilities Commission of Ohio. Warren Steel operates in the former CSC Industries plant in Champion Township. The plant produces carbon and alloy steel continuously-cast products. It employs 180 wage and salary workers. “The restart of...

Friday, August 8, 2014

DALLAS -- Regency Energy Partners announced Thursday that it has secured a joint venture agreement with American Energy–Midstream LLC for the construction and operation of Regency's $500 million Utica Ohio River project.  Regency and American Energy Utica LLC, a subsidiary of former Chesapeake CEO Aubrey McClendon's American Energy Partners, will also enter into a gathering agreement for gas AEU produces in the Utica shale. “We are excited about the strong growth potential of the Utica shale, and this project will be a main takeaway option for Utica development,...

Friday, August 8, 2014

Author:  Dennis LaRue YOUNGSTOWN, Ohio -- Being the depository of funds for school districts, port authorities and municipal and county governments is not as profitable as commercial and consumer lending, bankers say, but it is profitable and not as competitive. It’s mostly smaller community banks that fill this role. They do so in part out of a sense of giving back to the communities where they have a presence.  “We’re community stewards,” says John Draganic, an associate managing director at Talmer Bank and Trust and its business...

Friday, August 8, 2014

WASHINGTON -- Steel import permit applications for July totaled 3.781 million net tons, the American Iron and Steel Institute reports, a 1% increase from the 3.732 million permit tons recorded in June and a 5% increase from the June preliminary imports total of 3.586 million tons. Import permit tonnage for finished steel in July was 2.952 million, up 9% from the preliminary imports total of 2.706 million in June. For the first seven months of the year, total and finished steel imports were 24.863 million net tons and 18.504 million net tons, respectively, up 36% and...

Friday, August 8, 2014

ATLANTA -- The Randstad Engineering Employee Confidence Index, a measure of overall confidence among U.S. engineers, fell below 60 for the first time since the second quarter of 2013, declining from 63.6 to 59.8 this quarter. However, confidence levels remain high when compared with those of the other industries surveyed. The index indicated a loss of confidence in engineers' own personal job security, dropping from 84% in the first quarter to 72% in the second quarter. In addition, the Personal Confidence Index for engineering workers dropped more than five percentage points, to 72.6% from...

Thursday, August 7, 2014

DENVER- MarkWest Energy Partners plans to add a third cryogenic plant to its Cadiz, Ohio, complex in Harrison County to process the high volumes of natural-gas liquids extracted from the Utica shale, the company announced today. The new plant is expected to come online during the first quarter of 2015 and will increase processing capacity at the Cadiz site to 525 million cubic feet per day. MarkWest's Cadiz complex, a partnership between MarkWest and the Energy & Minerals Group, or EMG, is now capable of processing 125 million cubic feet per day through its...

Thursday, August 7, 2014

DENVER- MarkWest Energy Partners plans to add a third cryogenic plant to its Cadiz, Ohio, complex in Harrison County to process the high volumes of natural-gas liquids extracted from the Utica shale, the company announced today. The new plant is expected to come online during the first quarter of 2015 and will increase processing capacity at the Cadiz site to 525 million cubic feet per day. MarkWest's Cadiz complex, a partnership between MarkWest and the Energy & Minerals Group, or EMG, is now capable of processing 125 million cubic feet per day through its...

Thursday, August 7, 2014

YOUNGSTOWN, Ohio -- Hilcorp Energy Co., Houston, continues to place emphasis on developing the northern tier of the Utica shale in Pennsylvania, as evidenced by the Pennsylvania Department of Environmental Protection issuing two new horizontal well permits to the company last week. The DEP awarded Hilcorp permits to drill new wells in Pulaski Township at the Artman North pad. The company has several other producing wells and well pads under development in this section of the county as well as across the Ohio line in Poland Township. Across the state line in Ohio,...

Thursday, August 7, 2014

NORTH JACKSON, Ohio -- An early November opening is planned for the Antonine Sisters’ new $9 million assisted living and memory care center that will complement their 23-year-old adult day care facility. B&B Construction of Youngstown is serving as general contractor for Antonine Village, construction of which is nearing completion at 2675 N. Lipkey Road. K. Anthony Hayek of MS Consultants of Youngstown is the architect. Built around a secure courtyard, the campus will include 50 apartments, including 21 for adults with memory impairment and 29 for assisted...

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