LOCAL BUSINESS
Concrete mix plant honored
The R.W. Sidley Inc. concrete mix plant in Plain Township is the site of a flag-raising ceremony set for Thursday to celebrate its status as the first Ohio facility to receive an environmental certification from the National Ready Mix Concrete Association.
Kurt Princic, with the Ohio EPA Northeast Ohio district office, is scheduled to speak at the invitation-only event, along with officials with the Ohio Ready Mixed Concrete Association and the national association. Robert Buescher, president of the Painesville-based Sidley Inc., will give introductory remarks.
The Green-Star certification recognizes the plant’s work in developing sustainable business practices, company officials said. The certification program was established in collaboration with the U.S. EPA.
The plant makes a variety of concrete mixes for the residential and commercial construction industries.
Job fair at Kohl’s
Kohl’s Department Stores has scheduled a job fair for Sunday through Aug. 11 for those interested in applying for positions at the company’s new store in Alliance, set to open in September.
The fair will be at the Holiday Inn Express, 2341 W. State St. in Alliance.
For information on times and to schedule an interview, visit http://www.kohlscareers.com and click on “Stores” or call 877-639-5645 .
The Menomonee Falls, Wis., company is hiring for positions including register operators, customer service, freight unloaders and department associates.
Auto industry
BMW has strong profits
German automaker BMW said booming sales of luxury cars and SUVs in China helped its profits more than double to $2.5 billion in the second quarter. Revenue rose 16.5 percent.
Sales in China rose 52 percent, even as the overall Chinese car market increased by 20 percent, cooling its previous red-hot growth somewhat due to the end of state-sponsored stimulus measures.
TRUCKING
YRC executive retires
Another top executive at financially struggling trucking company YRC Worldwide Inc. has retired.
Mike Smid, chief operations officer of YRC and also president of YRC Inc., the company’s long-haul division that used to include former Akron trucking company Roadway, retired on Friday. He had been with the company and its predecessors since 2000.
YRC, the less-than truckload hauler created out of the 2003 merger of Yellow Transportation and Roadway, is based in Overland Park, Kan.
YRC also last month got a new chief executive officer, James Welch, 57, former head of Yellow. Welch succeeded William Zollars, who announced in September that he intended to retire following major financial restructuring of the company .
AEROSPACE
Meggitt profits up
Meggitt plc, the British owner of Meggitt Aircraft Braking Systems facilities in Akron, reported higher revenue and earnings for the six-month period ending June 30.
Also, Meggitt Aircraft Braking Systems announced it has a new $190 million contract for a wheel and brake improvement program for the B-1B long-range bomber used by the U.S. Air Force. The contract starts this month.
Meggitt reported profit of $238.2 million before taxes on revenue of $1.06 billion for the six months ending June 30. Revenue was up 18 percent from the six-month period in 2010, while profits before taxes were up 26 percent from the same period a year ago.
Meggitt and Senior Plc, both British-based parts suppliers to Airbus SAS and Boeing Co., are holding talks with engine makers as component suppliers are working to obtain lucrative contracts to help supply a boom in re-engined narrow-body planes.
Airbus’ re-engined A320neo has become the fastest-selling jet since its introduction in December, prompting Boeing to begin planning a new version of its rival jet, the 737. Narrow-body planes “will be a significant contribution” to future revenue, Meggitt Chief Executive Officer Terry Twigger said Tuesday.
Meggitt is looking to increase orders for its seals and some engine electronics. Both companies already supply parts for airframes.
TIRE & RUBBER INDUSTRY
Toyo to raise prices
Toyo Tire & Rubber Co. will raise Japanese prices for truck and bus tires by an average of 10 percent from Oct. 1. The tire maker will also increase prices for truck and bus retread tires by 5 percent, according to a statement Tuesday on its website.
Compiled from staff and wire reports
