LTV to Start Up New Cogenerational Unit at Harbor Works
Cleveland, OH - LTV Steel Company, Cleveland, Ohio is in the process of starting up a new 50 mega-watt (MW) cogeneration unit at their East Chicago Indiana Harbor Works steel mill. This new $60 million unit is expected to be online by October of this year and once operational, it will be capable of providing approximately 80% of the mill's electrical needs.
The new unit will consist of a new gas-fired boiler fueled by waste gases from an existing blast furnace and a 50MW steam turbine generator. Engineering and design is being provided by Duke/Fluor Daniel Incorporated (Aliso Viejo, CA) and the actual construction is being handled by Fluor Constructors Int'l Incorporated (Aliso Viejo, CA), both subsidiaries of the Fluor Corporation (Aliso Viejo, CA). Primary Energy Incorporated (Merrillville, In.), a wholly owned subsidiary of NiSource (Merrillville, In.), provided capitalization for this project and will lease the new unit under a long-term agreement to LTV.
O-I to Buy Canadian Glass Container Plants
Toledo, OH - Owens-Illinois, Inc. has entered into an agreement to acquire substantially all of the Canadian glass container assets of Consumers Packag-ing Inc. (CPI), based in Toronto, for Cdn. $235 million (approximately US$153 million). Representatives of Owens-Illinois and CPI have executed a letter of intent to implement the transaction.
The agreement is part of the CPI restructuring process currently underway under the jurisdiction of the Ontario Superior Court of Justice. The transaction is expected to close by the end of the third quarter of this year.
Completion of the acquisition is subject to court and regulatory approvals and other customary closing conditions.
Under the agreement, Owens-Illinois will acquire CPI's six glass container manufacturing plants in Canada. Owens-Illinois plans to operate the CPI business, which has annual sales of approximately US$300 million, through a wholly-owned Canadian subsidiary of O-I. Owens-Illinois also will assume all liabilities under the pension and employee benefit plans of the Canadian operations. O-I expects the acquisition to be accretive to earnings per share in the first full year after closing.
Alcoa, BHP Billiton to Merge North American Distribution Businesses
Pittsburgh, PA & Melborne, Australia - Alcoa Inc. and BHP Billiton have reached an agreement regarding the merger of Alcoa's North American metals distribution business, Reynolds Aluminum Supply Company (RASCO), with the BHP Billiton Group's North American metals distribution business, Vincent Metals Goods in the U.S. and Atlas Ideal Metals in Canada, collectively known as (NAMD).
Alcoa and BHP Billiton will each own 50% of the independent company. The combined company will have 3,000 employees and 90 metals distribution service centers across North America. Combined revenues of the distribution businesses would have been $2.1 billion for the fiscal year 2000.
The merger, subject to necessary regulatory approvals, is expected to close in October 2001.
Mercer Buys Jacobson Iron and Metal
Chesapeake, VA - Mario Mazza, owner of Mercer Wrecking Recycling Corp., Mercer Group International, and Mercer Process Equipment, LLC, has purchased and will operate the former Jacobson Iron and Metal Facility under Bay Bridge Enterprises. The facility is located in Chesapeake, Virginia. Also purchased was a feeder yard in Peanut City, Virginia.
"Super Mario" as he is often described, did acquire the properties, equipment, inventory, and so on for $3.3 million and planned to open the businesses in mid September. Ship scrapping, international trade, and bulk commodities importing and exporting will be part of his future plans.
IAA to Begin a New Web-based System
Schaumburg, IL - Insurance Auto Auctions, Inc., a provider of automotive salvage and claims processing services in the United States, signed an agreement with SEI Information Technology, a Chicago-based IT solution provider and professional services firm, to develop a new enterprise-wide application to manage the salvage and auction process. The new Web-based system will support and streamline vehicle registration and tracking, finan-cial reporting, transaction settlement, vehicle title transfer, and branch/head-quarters communications. It will speed all aspects of the Company's operations, support growth and expansion plans, provide improved reliability and main-tainability, and, ultimately, deliver increased profits.
The primary goal of the new application is to deliver better, faster service to IAA's Insurance company clients and vehicle buyers, provide superior tools and applications to the branch operations, speed and streamline internal operations.
Houston, TX - Waste Management, Inc. announced that Lawrence O'Donnell, III will become executive vice president responsible for the company's western area. Mr. O'Donnell, who has been executive vice president, general counsel and corporate secretary, will oversee the operations and business development of the 10-state area.
David Steiner, who has been vice president and deputy general counsel, will become senior vice president, general counsel and corporate secretary.
Mr. O'Donnell joined Waste Management from Baker Hughes Incorporated where he was vice president and general counsel. Prior to that, he was a partner at Campbell & Riggs, a Houston law firm. He is a graduate of the University of Texas and the University of Houston Law School. He is replacing Doug Sobey who is leaving after eleven years with Waste Management and its predecessor companies.
American Baler Places Equipment in Spain
Bellevue, OH - Papeles Allende s.L., one of the largest paper recyclers in Spain, has placed an order for two new large-capacity Bimax horizontal balers from American Baler Company. The Spanish recycler recently evaluated product performance at Van den Born Papier recycling in Delft, Holland, where one of the new Bimax balers has been operating since October 2000.
An order for two Bimax balers was placed shortly afterwards, one each for facilities in Barcelona and Tarragona. PASL operates five recycling facilities in Spain and one in Portugal, employing over 130 people. The 355,000 square-foot facility in Barcelona represents the largest plant in Spain. PASL already operates two other Bimax balers manufactured by American Baler at the firm's Telfod, England facility.
Waste Systems International Ends Public Status
Lexington, MA - Waste Systems International, Inc. announced the termination of its registration as a public reporting company has become effective. The company will no longer be required to file public reports, such as Forms 10-K and 10-Q. Waste Systems believes that the costs and resources required to maintain public company status outweigh any current benefit. As previously announced, the company filed for termination of its public company status with the Securities and Exchange Commission on April 2, 2001. The termination is now effective, following the end of a statutory 90-day waiting period. As previously announced, Waste Systems had filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code on January 11, 2001 and the Company's common stock was delisted from the Nasdaq National Market at the opening of business on February 20, 2001.
Waste Systems also announced the successful completion of the sale of its Londonderry, New Hampshire transfer station, a non-core asset. The proceeds of that sale, combined with available borrowing capacity under the company's revolving Debtor-in-Possession credit facility, provide the Company with the liquidity necessary to complete all of its anticipated capital projects in 2001. WSI is a non-hazardous solid waste management company. The Company currently has operations in Vermont, Central Pennsylvania, Eastern New England, Upstate New York, and Washington D.C. which serve commercial, industrial, and residential customers.
Kuiken Joins APC
Arlington, VA - Bruce G. Kuiken has joined the American Plastics Council (APC) as vice president of durables, responsible for APC strategies and activities in four distinct market segments: automotive, electrical and electronics, building and construction and major appliances.
Prior to joining the APC, Mr. Kuiken held management positions at Equistar Chemicals, LP (general manager of concentrates and compounds), Quantum Chemical (director of supply chain, vice president of resource recovery and president of signature polymers) and Dow Chemicals (group marketing manager of oxide and amine derivatives).
"Bruce brings a rich background in business and technical matters of value to the plastics industry," says Dr. Ron Yocum, president and CEO of APC.
Mr. Kuiken holds a bachelor of science degree in chemistry from Hope College in Holland, Michigan, and a master's degree in biochemistry from the University of Michigan.
LTV Appoints CFO
Cleveland, OH - The LTV Corporation announced the appointment of Thomas L. Garrett, Jr. to the position of senior vice president and chief financial officer, effective September 4, 2001. Before joining LTV, Mr. Garrett was senior vice president and chief financial officer of the Service Merchandise Company, treasurer of Magma Copper Company, and director, treasury of the Goodyear Tire and Rubber Company. Mr. Garrett will replace George T. Henning, vice president and chief financial officer.
Quintos Appointed CEO of ARA Services Corp.
Fairfax, VA - ARA Services Corporation (ARASC) is a for-profit subsidiary of the Automotive Recyclers Association (ARA) and developer of ARAccelerator, a database for recycled auto parts from recycling facilities in the United States and Canada; and PartsOnline, an Internet product that allows the auto recycler to view the inventory of every contributing recycler to the ARAccelerator.
In a unanimous decision by the ARASC Board of Directors, Michael T. Quintos has been appointed its President and CEO. Mr. Quintos has most recently served as the Manager of Collision Repair Solutions for ChoiceParts.com. Prior to that, he served as Director of New Business Development for CCC Information Services Inc.
Sennebogen Offers Material Handling Lines
Charlotte, NC- Sennebogen LLC is highlighting two of its material handler lines, the Green Line 830 and the Green Line 835.
The 830 line includes the 830 M-HD (mobile-rubber tired) and the 830 R (tracked) material handlers geared toward the scrap handling and forestry sectors. The scrap handlers are available in wheeled and crawler formats. The 830 M-HD is 72,700 pounds and provides a lifting capacity up to 33,000 pounds. The crawler model 830R tips the scales at 68,300, and has a lifting capacity of 28,700 pounds.
The 830 M-HD includes four-point outrigger, choice of inflatable or solid tires and special wide gauge axles. It is powered by a Deutz water-cooled diesel engine that generates 166 hp. The 830 M-HD offers a working radius of 49'3" while the 830R Crawler version has a working radius of 52'6".
The 835M (mobile-rubber tired) and the 835 R-HD (crawler model) have a maximum lifting capacity of 35,300 pounds and a working reach of 60'8".
The wheeled 835M has four-point outrigger, choice of inflatable or solid tires and special wide gauge axles. It weighs in at 88,200 pounds. The Duetz water-cooled diesel engine generates 226 hp.
The scrap handlers have an insulated cab. A hydraulic option allows the operator cab to be raised or lowered to allow the operator maximum vision over the job site. Cab controls and the seat are fully adjustable. There is a large roof skylight and a diagnostic system that allows the operator to monitor all essential machine engine functions.
There is a variety of working attachments available, custom-designed to match the tasks customers have. Sennebogen's North America is headquartered in Charlotte, North Carolina and can be reached toll free at 877-309-0099 or visit www.sennebogen-na.com.