A. Schulman, Inc. will pay a quarterly cash dividend of 20.5 cents per share on May 2 to shareholders of record on April 15.
The Fairlawn maker of plastic compounds and resins also will pay a quarterly cash dividend of $15 per share on the 125,000 shares of A. Schulman’s convertible special stock on May 2 to shareholders of record as of April 15.
Diebold Inc. will sell $500 million in debt as part of its $1.8 billion purchase of Germany-based ATM maker Wincor Nixdorf.
The Green manufacturer of ATMs and developer of related software and services said Wednesday it is offering $500 million in senior notes due 2024.
Diebold said net proceeds from the senior notes offering, along with a portion of cash proceeds from the completed sale of its North America electronic security business and borrowings from its senior credit facility, will pay for Wincor Nixdorf shares, to refinance Wincor Nixdorf debt and also be used for general corporate purposes.
TimkenSteel Corp. says its first quarter financial performance will be better than it previously forecast.
The Canton steel maker on Tuesday said it expects first quarter earnings before taxes, depreciation and amortization to range from a loss of $5 million to break-even in large part because of better than expected cost and manufacturing performance.
The company in late January said it had expected to lose between $10 million and $20 million for the quarter.
Diebold, Inc. has enough shares in Germany-based ATM maker Wincor Nixdorf to take over the company, the Green maker of ATMs, software and related services announced Tuesday.
Diebold’s $1.8 billion purchase of Wincor Nixdorf still needs regulatory approval and is expected to close this summer.
Diebold said as of Tuesday, March 29, it had received 68.9%, or more than 22.5 million, of Wincor Nixdorf shares, satisfying minimum tender conditions.
“We are excited to have successfully completed our takeover offer for outstanding shares of Wincor Nixdorf, enabling our shared vision of a truly global services-led, software-enabled company,” Andy W. Mattes, Diebold president and chief executive officer, said in a statement. “With this milestone achieved, we look forward to completing this transaction and integrating the two businesses, after the appropriate regulatory approvals have been obtained.”
How did a beer-loving writer turn a hobby into a book and blog? The Beacon Journal's beer man tells his story and talks beers of Ohio, including why he thinks the Buckeye State is producing the best IPAs in the country.
He also says we're witnessing history repeating itself. In the 1800s, every town had a brewery because there was no shipping. Now, as we strive to eat and drink local, towns, big and small, are again embracing their local brewers.
To read more or comment...
Cuyahoga Falls company Americhem Group, which makes custom color and additive products for the polymer industry, has acquired ViChem Corp. of Grand Rapids, Mich.
Terms of the acquisition were not disclosed. Plastics News said it was the third acquisition in four years for Americhem.
ViChem makes specialty engineered compounds used in injection molding, extrusion and blow molding.
Rick Juve, CEO of Americhem Group, said in a news release issued Wednesday by Americhem that ViChem is a market leader in compounds for the automotive industry.
Juve said Americhem plans to expand the ViChem business geographically, along with integrating it into Americhem’s markets.
ViChem employs 85 people.
Americhem Group employs about 800 people in ten manufacturing and technical service sites in the Americas, Europe and Asia. Locally, the company has a plant in Cuyahoga Falls on Steels Corners Road and a headquarters/research and development facility off Broad Boulevard.
Americhem said in the new release that the ViChem headquarters in Grand Rapids will serve as Americhem Group’s “center of excellence for TPE and PVC compound solutions.”
Americhem President John Deignan said in the release that the addition of ViChem “is strategic and further expands our automotive portfolio of products and services.”
Akron-based FirstEnergy Corp. is launching a program to recruit select high school seniors to work in their West Akron call center.
It will be the first time the electric utility and parent company of Ohio Edison will be targeting high schoolers, the company said.
The company has hired seven graduating seniors from North Ellet and Kenmore high schools in Akron to begin an internship the first week of April.
The company will conduct additional interviews with graduating seniors later in April for additional opportunities starting in June.To read more or comment...
Myers Industries, Inc. has announced that Greggory W. Branning, its executive vice president, chief financial officer and corporate secretary, has left the company to pursue other interests.
Kevin Brackman, vice president and controller, will be acting as chief financial officer on an interim basis while a search ensues for the Akron plastics and rubber manufacturer.To read more or comment...
A longtime Davey Tree Expert Co. top executive has gotten a promotion as part of a succession plan.
Patrick M. Covey, with Davey for 24 years, is now president and chief executive officer of the Kent-headquartered company that is one of the largest employee-owned companies in the country.
Davey employed more than 8,000 people last year, including about 500 in Northeast Ohio.
Covey succeeds Karl J. Warnke as president, with Warnke continuing as the company’s chief executive officer and chairman.To read more or comment...
The JCPenney at Tri-County Plaza in Lakemore has been honored with a national award from its parent company.
The store at 1500 Canton Road was recently honored with the Founder’s Award – JCPenney's highest distinction for excellence – at a special event held at the historic Belo Mansion in Dallas on March 16.
At the ceremony, Marvin R. Ellison, chief executive officer, and Joe McFarland, executive vice president of stores, presented Akron General Manager Richard Ferguson with a commemorative plaque in recognition of the store meeting or exceeding all performance goals. Only 102 of approximately 1,000 stores, six out of 52 districts and three out of 13 supply chain facilities received the coveted award.
“I’m proud of our team of dedicated associates who are committed to delivering excellent service and an engaging store environment that compels customers to return time and time again,” said Ferguson. “We are truly honored to receive this Company recognition on behalf of our Akron shoppers, who have trusted us with their loyalty and continued patronage. We look forward to another successful year in 2016.”To read more or comment...
The first concerts at the East End, the former Goodyear headquarters, will take place in late April, starting with a group popular with children, followed by Smashing Pumpkins and Liz Phair, and then Gavin DeGraw.
The long-term goal is to book at least 150 concerts annually at the Goodyear Theater and Goodyear Hall in the East Market Street complex.
Kidz Bop, described as the top music brand for kids in the United States, will play April 27 at the Goodyear Theater.To read more or comment...
Meggitt Aircraft Braking Systems is moving its Akron military aircraft brake and wheel repair/overhaul operations to Kentucky, with nearly 40 local people expected to lose their jobs.
Meggitt’s repair and overhaul operations are out at Akron Fulton International Airport.
The impending closure impacts one part of the company’s Akron operations. Meggitt will still operate its military brake and wheel manufacturing facility out by the airport where about 110 hourly employees, members of United Autoworkers Local 856, work, according to the union local president.
Meggitt filed a WARN notice with the state on March 11 announcing the upcoming layoffs. The union said its members knew as far back as a year ago that the company intended to close the repair and overhaul operations. UAW 856 members are working under a four year contract that expires in 2018.
Hourly and salaried people will lose their jobs, the company said in its letter to the state.
Meggitt said it “has decided to permanently close its Maintenance, Repair and Overhaul (MRO) operations at its Akron campus for various operational reasons and relocate it to the company’s Danville, KY, campus.”
The nonprofit Child Guidance & Family Solutions, which specializes in mental and behavioral health care for children and their families, said Monday that its president and CEO, Elaine Harlin, is retiring after 25 years with the agency.
Harlin served as the agency’s president and CEO for 10 years.
She joined Child Guidance as the leader of a project involving implementing an IT system.
The 70-plus-year-old agency, while headquarted in Akron, provides services at five clinical offices in the region, schools in eight area school districts, medical facilities and various community sites.
During her tenure, Harlin worked with other organizations to establish new programs aimed at bettering “the lives of children and their families,” according to an agency news release.
One of the more notable program, the agency said, is one called Toddlers and Preschoolers Succeeding (TAPS), which has helped to reduce the number of children being expelled from preschools.
She also worked to establish a program with Northeast Ohio Medical University aimed a early identification and treatment of psychotic illnesses such as schizophrenia.
Additionally, she has helped to lead efforts that bring together the treatment of children’s behavioral and physical issues.
In 2003, she helped to lead the merger of separate organizations Family Solutions and Child Guidance into one agency.
More recently, Harlin helped oversee the agency’s move from its original home on Locust Street near Akron Children’s Hospital to its new main office on North Forge and East Market streets, east of the main part of downtown Akron.
Harlin recently completed her term on the board of trustees of Our Lady of the Elms in Akron, and she continues to serve on the Summit County Social Services Advisory Board. Among other community and professional activities, she has served on the board of the Ohio Council for Behavioral Health and Family Service Providers, headquartered in Columbus.
A scam trying to scare people about the IRS coming after them has taken a new twist.
It's been common knowledge that the calls that seem to be coming from the IRS about your owed taxes is a scam. The IRS doesn't call taxpayers about their taxes.
However, the IRS is reporting that they've received new reports that scammers are calling under the guise of verifying tax return information over the phone.
The latest variation being seen in the last few weeks tries to play off the current tax season. Scam artists call saying they have your tax return, and they just need to verify a few details to process your return. The scam tries to get you to give up personal information such as a Social Security number or personal financial information, such as bank numbers or credit cards.To read more or comment...
Richfield-based National Interstate Insurance Co. is the new presenting sponsor for the 8k and one-mile races to be held this June as part of the Akron Children’s Hospital Akron Marathon Race Series.
The National Interstate 8k & 1-Mile course tours downtown Akron and The University of Akron. It finishes on the 50-yard line of Summa Field inside InfoCision Stadium. The races will be June 25.
“National Interstate has partnered with the Akron Marathon since 2014, and it’s very exciting that they have stepped up to become the presenting sponsor for the kick-off to our Race Series,” Anne Bitong, president and executive director of the Akron Marathon, said in a statement.
“Over the last year, we have been increasing our focus on health and fitness, and the Akron Marathon is a great way for our employees to get involved by competing and volunteering,” Tony Mercurio, president and chief operating officer of National Interstate, said in a statement. “It’s also an excellent opportunity to stay connected to the city and to one another. Not only does this event support our wellness initiatives, it also gives us the chance to support our community.”
The entry fee is $55 for the 8k and $25 for the 1-Mile, with roughly 3,000 spots available between the two events. Registration is available at AkronMarathon.org..
The race dates this year for the second running of the Akron Marathon Race Series are: June 25 (National Interstate 8k & 1-Mile), Aug. 13 (Goodyear Half Marathon & 10k)and Sept. 24 (FirstEnergy Akron Marathon, Half Marathon, Team Relay & Kids Fun Run).
Ernst & Young LLP has named Jerry Gootee its Akron Office Managing Partner, succeeding Ed Eliopoulos.
Eliopoulos will retire at the end of the firm’s fiscal year on June 30, after more than 35 years with the firm and many of the firm’s largest clients.
Gootee and Eliopoulos, will work with Julie Boland, the managing partner of the Cleveland office, and the 111 partners in the Northeast Ohio practice, on a seamless transition, the firm said.To read more or comment...
Akron-based Mobile Meals Inc. will be merging with Ravenna-based Family & Community Services, Inc., effective May 1.
The Mobile Meals office will remain in Akron and they will continue to serve their current clients, the agencies said in a press release. The merger will allow Mobile Meals to serve more clients in Northeast Ohio, they said.
All 53 Mobile Meals employees in Akron will remain in their jobs and Mobile Meals President and CEO Blake Babcock will become president and operate the agency independently while reporting to Family & Community Services Executive Director Mark Frisone.
Here is the remainder of the press release:To read more or comment...
Akron-Summit County Library’s Science and Technology Division is holding an introduction to patents and patent searching program Saturday morning.
Librarians will explain the process of getting a U.S. patent and show how to do a preliminary patent search using the U.S. Patent & Trademark Office web site.
The class runs from 10:15 a.m. to noon. Participants are asked to have basic computer skills and familiarity with the internet.
The class will meet in the meeting rooms on the High Street Level across from the auditorium. If people cannot make it to the March 12 program, other classes are scheduled for April 23, May 21, and June 18.
The majority owner of Richfield specialty insurer National Interstate Corp. is making another pitch to buy out the entire company at an estimated cost of $293 million.
American Financial Group Inc. says it will pay $30 a share to buy out all the shares of National Interstate it does not own through its wholly owned subsidiary, Great American Insurance Co. Cincinnati-based AFG owns about 51 percent of National Interstate.
“Our proposal represents an attractive opportunity for National Interstate’s shareholders to receive a significant premium to National Interstate’s current and recent share prices,” Carl H. Lindner III and S. Craig Lindner, co-chief executive officers of AFG, said in a statement. “We would be making an additional investment in a business we know well, while at the same time simplifying the ownership structure.”
Shares of National Interstate on Wednesday closed at $29.98. Shares are up 12.3 percent since Jan. 1 and are up 11.3 percent from a year ago.
AFG withdrew its previous offer in March 2014 after intense opposition from other large shareholders as well as an unfavorable court ruling.
Retired FirstEnergy Executive Chairman, President and Chief Executive Officer Tony Alexander will be honored with the Greater Akron Chamber's H. Peter Burg Award.
Alexander, who retired last April from FirstEnergy after 43 years with the electric utility and 11 at its helm, will be the 12th recipient of the Burg award. It is after the late Burg, also former CEO of FirstEnergy and chairman of the local Red Cross board of directors.
The chamber said the award recognizes and individual who "has displayed paramount leadership for the advancement of greater Akron's economic and community development.
Last year's award winner was Cavs star and Akron native LeBron James. Previous winners also include former Akron mayor Don Plusquellic, Main Street Muffin CEO Steve Marks and GOJO CEO Joe Kanfer.To read more or comment...
Fairlawn-based A. Schulman Inc. will open its first Engineered Composites Innovation and Collaboration Center in Bay City, Mich., late this summer.
Schulman, which makes high-performance plastic compounds, composites, powders, and resins, said the new facility will focus on engineered thermoset composites products.
“Our future plans for the Collaboration and Innovation Center include expanding our focus to include all of A. Schulman’s materials,” Frank Roederer, senior vice president and general manager, engineered composites, said in a statement.
A. Schulman has five similar centers in Mexico, Belgium, Germany and two in the United States.
Wanted: Nominations of young professionals who raise the bar when it comes to leadership and community service.
The Greater Akron Chamber wants the nominations for this year’s 30 for the Future Awards.
The chamber’s program honors young professionals (ages 25-39) who live and/or work in Greater Akron.
Nominations will be accepted through April 8. Each nominee will be required to complete the 30 for the Future Leadership Document. To download the nomination form, go to www.greaterakronypn.com/30-for-the-futurhttp://www.greaterakronypn.com/30-for-the-futuree, and return the form by April 8 via e-mail to Kim Huff at email@example.com.To read more or comment...
The J.M. Smucker Co., the Orrville-headquartered food and pet food company, [NYSE: SJM] said after the market closed at 4 p.m. Monday that Mark T. Smucker, the fifth generation of the company’s founding family, has been appointed president and chief executive officer.
He succeeds Richard K. Smucker, who has served as CEO since 2011 and co-chief executive officer since 2001. The change is effective May 1.
In what Smucker is billing as a “leadership transition plan,” Richard Smucker will become executive chairman of the board, succeeding current chairman Timothy P. Smucker, who will become chairman emeritus and will remain on the company’s board as a non-employee director.To read more or comment...
Ohio Attorney General Mike DeWine, who is eyeing a 2018 gubernatorial run, will speak Friday in Akron to a group of small business owners.
The Ohio chapter of the National Federation of Independent Business and its Akron Area Action Council are organizing the lunch and presentation.
DeWine will discuss issues faced by small business owners, as well as “what can be done to make Ohio more business friendly,” according to the Ohio chapter of the National Federation of Independent Business (NFIB).
DeWine’s appearance will be from noon to 1:15 p.m. at 3 Point restaurant in downtown Akron.
Other Republicans who have gubernatorial aspirations are Ohio Lt. Governor Mary Taylor of Green and Secretary of State Jon Husted.
DeWine has spoken to NFIB members in Ohio prior to talk of him running for governor.
On Friday, local small business owners who are NFIB members can participate in a question-and-answer session with DeWine, following his presentation.
NFIB/Ohio staff members will give an update on issues facing Ohio legislators that affect small businesses.
NFIB has 25,000 members in Ohio and 600 in the Akron area.
Area business people interested in attending the event should call Andy Patterson. NFIB/Ohio communications director, at 614-221-4107.
Online retailer Amazon this summer will open what it calls Amazon@Akron, a pickup location near the University of Akron on East Exchange Street.
This will be the second Amazon pickup location in Ohio.
Amazon said the University of Akron location will be where people can pick up and return Amazon orders.
Amazon@Akron will be in a 1,980-square-foot space at 290 E. Exchange St.To read more or comment...
The Game Grill + Bar at Canal Park stadium in downtown Akron will host a job fair from 4 to 7 p.m. March 14.
Available positions at the restaurant, operated by the Akron RubberDucks at the city-owned stadium, include host/hostess, bartender, server and cook.
The job fair, organized by the minor league baseball team the RubberDucks, will be inside the restaurant, near the corner of South Main and West State streets. Prior restaurant experience is preferred, the RubberDucks said in a news release. Candidates should bring resumes.
The job fair is for restaurant positions only; attendees will not be considered for RubberDucks concessions jobs.
The Game Bar + Grill struggled to attract patrons year-round, and at the end of 2015 season Akron RubberDucks management decided to make the place a game-day only restaurant.
The street-level restaurant, with a wall and patio at Canal Park’s right-center corner, opened April 2014 as a seen-day-a week, year-round operation. Ken Babby, owner of the RubberDucks, touted the eatery as a key part of his more than $6 million in investments in the stadium.
A Westlake engineering firm has acquired a Canton-based surveying business.
R.E. Warner & Associates, Inc., a consulting engineering firm said it had completed the acquisition of Accurate Technologies, a surveying business. R.E. Warner and Accurate Technologies will combine their engineering and surveying companies to provide enhanced services to industries ranging from steel mills to municipalities, the companies said.
“This is the first acquisition of its kind for R.E. Warner & Associates and we could not be more pleased with the potential benefits for both our clients and future clients, as well as our employees,” said Ted Beltavski, president, R.E. Warner & Associates. “With the combination of expertise both companies offer, we will be able to provide cutting edge technologies in 3D laser scanning and laser tracking, that moves us beyond traditional surveying and ultimately providing a direct cost savings to clients.” R.E. Warner predicts this deal will increase its revenue stream by 20 percent and in the next four years an increase of 10-15 staff members.
Accurate Technologies has 10 employees and R.E. Warner & Associates has 63 employees.To read more or comment...
A new president has been named for Akron-based law firm, Roetzel & Andress LPA.
Robert E. Blackham, 57, partner-in-charge of the firm's Cleveland office and National Practice Group Chair, has been elected as the firm’s president. Paul L. Jackson, 52, a partner in the firm’s Akron office, will serve as the firm’s secretary-treasurer.
Blackham replaces Jeff Casto, who became chairman and chief executive officer in the fall. Casto replaced longtime chairman Tim Ochsenhirt, who retired.To read more or comment...
The treasured West Side Market in Cleveland will open Sundays for the first time in its 100-plus years.
The Sunday hours — noon to 6 p.m. — will begin April 3, according to news release issued by the city of Cleveland, which owns the historic market.
The year-round market’s other hours, on Mondays, Wednesdays, Fridays and Saturdays, are staying the same.
It’s up to vendors whether they open on Sundays. The city said that vendors will have the option of opening on Sunday, Monday or both days.
“The changes in market operation hours will allow the market to be more competitive and reach a broader clientele,” said Michael Cox, Cleveland’s director of public works, in a prepared statement.
Cox said the city surveyed West Side Market vendors and found that more than 100 were interested in opening on Sundays. Some vendors, however, have said they do not want to open on Sundays.
The market, which opened to shoppers in 1912, is at 1979 W. 25th St. Hours are 7 a.m. to 4 p.m. Mondays and Wednesdays, 7 a.m. to 6 p.m. Fridays and Saturdays, and, beginning April 3, noon to 6 p.m. Sundays.
Closed on holidays. The market is open on some Thursdays during weeks when holidays fall on Fridays. For more information, go to http://westsidemarket.org.
Business activity grew modestly the last six weeks in Ohio and parts of neighboring states that make up the Federal Reserve Bank of Cleveland’s Fourth District. Economic activity also expanded moderately in most of the 11 other Federal Reserve districts, according to the latest Beige Book report released Wednesday.
The Cleveland Fed reported that in its district:
• Manufacturing output trended slowly higher. Manufacturers said they are being hurt by a strong dollar, low commodity prices, aggressive foreign competition and a soft energy sector.
• The housing market improved, with higher sales and prices.
• Retailers reported mixed results for the post-Christmas holiday shopping period. New car sales were up from a year ago.
• Oil and gas extraction and coal production declined.
• Payrolls expanded for the most part, especially in manufacturing, construction, and banking. Labor markets appear to be tightening. Staffing firms reported more job openings and placements, primarily in healthcare and manufacturing.
The full Beige Book report is here.To read more or comment...
How low can it go?
The monthly natural gas price for residential customers who are on the Standard Choice Offer (SCO) has hit another 35-year-low. And it could go lower next month when the new state-approved formula for setting the SCO goes into effect.
Effective March 15, Dominion East Ohio's SCO rate will be $1.73 per thousand cubic feet (mcf). That's 48 cents or 21.7 percent lower than the February rate of $2.21/mcf.
It's also $1.59 or 47.9 percent lower than the price a year ago of $3.32/mcf.To read more or comment...
One of Goodyear’s two new concept tires for autonomous vehicles is a magnetically suspended sphere with a “biomimicry” brain coral pattern tread.
The other one talks to the driverless vehicle it is attached to.
The Akron tire maker introduced the Eagle-360 spherical tire and the Goodyear IntelliGrip at the 86th Geneva International Motor Show. Both are “smart” tires with sophisticated built-in sensors.
The highly futuristic spherical Eagle-360 allows a car to move in all directions – it is connected to the vehicle via magnetic levitation that creates a “smooth, quiet ride.” The brain coral pattern tread is designed to stiffen in dry conditions and soften when wet.
The IntelliGrip, which more closely resembles a traditional tire, has built in technology that senses road conditions and tire wear and communicates that to the autonomous vehicle, which can then make adjustments based on the information it receives. Custom algorithms account for such things as inflation pressure and tire temperature.
Goodyear said it is working with vehicle manufacturers on the IntelliGrip technology to enhance such things as stability control, braking and suspension control.
The concept tires serve as a creative platform and also a way to push conventional thinking on technology, Goodyear said.