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Published on Tuesday, Jan 06, 2009
Babcock & Wilcox buys nuclear firm
An affiliate of Babcock & Wilcox Co. has completed the purchase of Tennessee-based Nuclear Fuel Services Inc., a provider of specialty nuclear fuels and related services.
NFS will operate as a wholly owned, indirect subsidiary of Lynchburg, Va.-based B&W. Terms were not disclosed.
NFS converts Cold War-era government stockpiles of highly enriched uranium into commercial nuclear reactor fuel. The company also operates a fuel production facility to support America's nuclear-powered submarines and aircraft carriers.
B&W, which has major operations in Barberton, is a subsidiary of Houston-based energy-related engineering and construction company McDermott International Inc.
Companies seek money from Archway
Businesses in Ashland are waiting to see if they'll be paid the nearly $1 million they say they are owed by bankrupt Archway Cookies.
Attorneys have filed dozens of motions for payment as a federal bankruptcy court in Delaware tries to sort out which creditor claims have priority.
Charlotte, N.C.-based Lance Inc. bought Archway's Ashland plant in mid-December and reopened the bakery. Nearly 300 employees lost their jobs when Archway filed for Chapter 11 bankruptcy in October.
Cadillac unveils new 2010 crossover
General Motors Corp. is counting on the 2010 Cadillac SRX crossover vehicle to lure luxury car buyers with new design and performance features.
The redesigned vehicle was unveiled Sunday and is set to go on display at the 2009 North American International Auto Show in Detroit later this month. It replaces the SRX model first launched in 2004.
To help compete with better-selling rivals like the Lexus RX, Acura MDX, and the BMW X3 and X5, the SRX's designers took elements from other Cadillac models.
Dow is down 81.80; crude oil rises $2.44
The Dow Jones industrial average fell 81.80, or 0.91 percent, to 8,952.89 after falling as much as 142.
Crude oil for February delivery rose $2.44 cents Monday to $48.78 a barrel after jumping $1.74 on Friday to $46.34.
Borders names new chief executive
Borders Group Inc. named Ron Marshall, 54, the founder of private equity firm Wildridge Capital Management, to replace George Jones as CEO and also serve as president and a director.
Tyson Foods is replacing CEO
Tyson Foods Inc. said its president and chief executive, Dick Bond, will step down immediately and be replaced by former CEO Leland Tollett as the world's largest meat processor continues to weather a downturn in the industry. Tollett was CEO from 1995 until he retired in 1998 after nearly 40 years with the company.
Babcock & Wilcox buys nuclear firm
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