Company News

Vallourec Loses $217M in 2Q, More Losses Ahead

YOUNGSTOWN, Ohio – Vallourec, the French company that operates the huge pipe and threading mills here, says it lost 199 million euros, or $217 million, in the second quarter, and its CEO expects 2015’s full results to reflect the “worst-case scenario.” Vallourec eliminated 1,600 jobs worldwide during the first half of the year, including “60 […]

Avers Responds to Stories about Youngstown Thermal

YOUNGSTOWN, Ohio – The CEO of Youngstown Thermal LLC, Carl E. Avers, offers “some perspective” on this week’s three-part series of reports on his company. In a letter to the publisher of The Business Journal, Andrea Wood, who researched and wrote the reports, Avers says, “It is my vision that the community will come together […]

Ampco-Pittsburgh Buys Alloys Unlimited & Processing

MINERAL RIDGE, Ohio – Alloys Unlimited & Processing Inc., a specialty tool distributor based here, has been acquired by Ampco-Pittsburgh Corp. Ampco, based in Pittsburgh, announced the acquisition Wednesday. Terms were not disclosed. Alloys Unlimited operates its 88,000-square-foot distribution center here at 3714 Union St. The company president, Gregory J. Nackino Jr., was in meetings […]

Carney McNicholas Completes Mission in Africa

By Anna Carney YOUNGSTOWN, Ohio – In May, Carney McNicholas Inc. completed the third phase of its installation of equipment at Camp Lemonnier in Djibouti on the Horn of Africa, less than two years after we first set foot in that country. Our first project involved the transportation and installation of 22 40-foot overseas containers […]

YSU to Borrow $16M to Build Its Own Steam Plant

YOUNGSTOWN, Ohio – Youngstown State University is borrowing $16 million to build its own steam plant, estimating it will save the university $2 million annually in heating costs as it ends its relationship with Youngstown Thermal LLC. The project “will be revenue-neutral in Year One,” says Neal McNally, YSU vice president of finance and business […]

Soap Gallery to Offer New Venue for Artists

YOUNGSTOWN, Ohio – The Soap Gallery, a new for-profit fine art gallery, will open in October at 117 S. Champion St., in the building formerly occupied by the Purple Cat. The Soap Gallery’s majority owners are Stephen Poullas and Daniel Rauschenbach; Chris Yambar and Sarra M. Mohn are minority owners of the venture. “We want […]

‘Coaches’ Wants to Be Where Players Meet

POLAND, Ohio – With the opening of Coaches Burger Bar at Five Points, Patrick Howlett and Stacy Sam have tried to bring the taste and feel of a big city burger restaurant to the Mahoning Valley The co-owners, Howlett and Sam, cut the ribbon to officially open their 3,000-square-foot restaurant on Springfield Road Monday morning. […]

$5M Price Tag for Thermal’s Turnaround Plan

YOUNGSTOWN, Ohio – Carl E. Avers, the CEO of Youngstown Thermal LLC, was something of a white knight in the 1980s when the downtown steam system was rescued from Ohio Edison, then expanded and updated with a $7 million investment. Installation of a district cooling system followed in 1996 as Avers widened his business horizons […]

$5M Price Tag for Youngstown Thermal’s Business Plan

YOUNGSTOWN, Ohio – Carl E. Avers, the CEO of Youngstown Thermal LLC, was something of a white knight in the 1980s when the downtown steam system was rescued from Ohio Edison, then expanded and updated with a $7 million investment. Installation of a district cooling system followed in 1996 as Avers widened his business horizons […]

Thermal Losing 60% of Revenue; CEO in Bankruptcy

YOUNGSTOWN, Ohio — The financial stability of Youngstown Thermal, the utility that heats and cools 50 downtown buildings, is threatened by the loss next June of its biggest customer, Youngstown State University, which accounts for $3.2 million of the company’s $5 million in annual revenues. At the same time, the city of Youngstown has set […]

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