Timken?Co. acquires Standard Machine
The Timken Company this week announced the acquisition of the Standard Machine business based in Saskatoon, Saskatchewan, Canada.
Standard Machine provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining and field technical services to end-users in Canada and the western United States. The company, which employs 125 people, serves the mining, oil and gas and pulp and paper sectors. Standard Machine reported 2012 sales of approximately $31 million.
Timken company engineers, manufactures and markets mechanical components and high-performance steel. The company reported 2012 sales of $5 billion. It operates a Niles Plant with 40 employees.
Austintown company tops for safety leadership
AUSTINTOWN - A roofing and insulation contractor here received the 2013 Joan Kovach Safety Leadership Award Wednesday, recognizing safety leaders in the local business community.
Boak & Sons received the award during the Mahoning Valley Safety Council's annual Safety Leadership Awards Luncheon in Boardman. Owner Sam Boak accepted the award.
Boak & Sons was selected over two other candidates, Steel & Alloy Utility Products, McDonald, and Magna Seating - Lordstown Seating Systems, Lordstown.
Besides maintaining a safe shop, Boak & Sons is responsible for a fleet of 70 vehicles that travel to commercial and residential job sites. Most recently the company invested in multi-man cobra carts, which are the latest state-of-the-art equipment to prevent rooftop falls.
During the luncheon, the safety council and the Ohio Bureau of Workers' Compensation Youngstown Service Office honored 81 local companies for excellent and improved claims records in 2012.
Northeast Ohio gasoline prices drop
Northeast Ohio motorists will feel some relief at the pump this week, as area gas prices have fallen to $3.64.
The national average price for a gallon of regular unleaded gasoline was reported at $3.58 Wednesday, 6 cents higher than a week ago, or the largest weekly increase since February.
The recent trend of higher prices at the pump has been nearly universal with only motorists in West Virginia and Ohio paying less today at the pump than a week ago.
After drifting higher for several weeks, West Texas Intermediate (WTI) crude oil prices were pressured lower today by a stronger dollar and weaker equities.
Avalon Holdings releases first quarter results
WARREN - Howland-based Avalon Holdings Corp. this week announced financial results showing a net loss for the first quarter, despite significant increases in net revenue compared to first quarter of 2012.
The company incurred a net loss of $100,000 in the first quarter of 2013, or 4 cents per share, compared with a net loss of $400,000, or 10 cents per share, for the first quarter of 2012. Net operating revenues increased to $14.7 million in the quarter compared with $10.9 million first quarter of 2012.
Avalon Holdings provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets. It also owns the Avalon Golf and Country Club, which operates golf courses and related facilities.
Young entrepreneur to host anti-violence block party
LIBERTY - As part of the launch of his new seafood market, a young local entrepreneur is hosting a free "Stop the Violence" block party Friday.
Terell Leonard, owner of Relly's Seafood Market, 1722 Belmont Ave., Liberty, will host the block party 4 to 8 p.m. Friday with food and games to celebrate the grand opening of his business and to honor lost loved ones.
Leonard will host a ceremonial ribbon-cutting at 11 a.m. Friday for a new seafood market. The market sells a variety of fresh seafood as well as home-cooked seafood, chicken, sides and desserts.
1st Niles steady; Cortland up a nickel; First Place dips
First Niles Financial held steady in trading Wednesday at $7 a share. First Place Financial Corp. dropped to $0.0012 per share, and Cortland Bancorp increased a nickel to $10.30 per share.