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Business

Howmet Aerospace releases dividend

WEATHERSFIELD — Howmet Aerospace, the former Arconic Inc. in Weathersfield, has declared a second quarter dividend of 93.75 cents per share on the outstanding $3.75 Class A stock of the company. The dividend will be paid July 1 to shareholders of record at the close of business June ...

Eastern Gateway gets OK to seek financing for buildings

YOUNGSTOWN — Eastern Gateway Community College can proceed with plans to buy and renovate two buildings that will anchor the school in the downtown. The Ohio Controlling Board has given the Steubenville-based college permission to buy Thomas Humphries Hall, the school’s main campus at 101 ...

Aim expands to Indianapolis

YOUNGSTOWN — Aim Transportation Services has acquired McCoy’s NationaLease’s full-service lease and rental businesses in Indianapolis, bolstering the Youngstown-based company’s presence in the Midwest. “We are excited to welcome the McCoy Indy employees to Aim, and we are looking ...

Business briefs

YSU GRADS RECOGNIZED: Several local people were among 16 students in the Williamson College of Business Administration who received WCBA Senior Leadership Awards during Youngstown State University’s recent spring graduation. The award recognizes outstanding academic performance, leadership ...

YSU student keeps shoes fresh

Click here to learn more about MBG Restoring LLC. AUSTINTOWN — Maeson Green suspected there was potential to grow a business in the sneakerhead and shoe fashion culture, even as a young teen. MBG Restoring LLC began small, as most good business ideas do, with a 15-year-old Green cleaning ...

Lordstown Motors gets pledge for 900 pickups

LORDSTOWN — Lordstown Motors Corp. has a signed letter of intent from Westlake-based Momentum Groups to buy 900 battery-powered Endurance pickup trucks. Momentum Groups is a fleet management company that specializes in corporate vehicles, from ordering to disposal, including purchase or ...

Sheely’s to open second furniture store in Aurora

NORTH LIMA — Sheely’s Furniture and Appliance is opening a second store, this one in Aurora, as it expands into the Cleveland market. A grand opening is scheduled for Sept. 7 to 19 at the new location, 18813 N. Marketplace Drive at the Shops at Marketplace. The location has 80,000 ...

Port authority applies for $25 million grant

To read the Western Reserve Port Authority’s $25 million federal grant application for the Lordstown Smart Logistics Hub project, click here The initiative to transform state Route 45 into a smart corridor has a funding request in the hands of the U.S. Department of Transportation. The ...

Old Dominion requests tax break for terminal

WARREN — Trumbull County commissioners are considering a request from Old Dominion Freight Line to abate a portion of property taxes on a new terminal the trucking company plans to build in Lordstown. If approved, which seems likely when commissioners consider the application possibly as ...

Levin trying to buy back furniture chain

The former owner of Levin Furniture has negotiated a deal in bankruptcy court to reacquire the brand, but it’s undetermined as of yet whether closed stores in Niles and in Boardman will reopen. Those decisions and on which other stores will reopen will be made when the deal closes in a few ...

Gasoline prices rise to near $2 per gallon

Staff report The average price for gasoline in the Youngstown-Warren and Niles areas is 8 cents higher this week to rest at $1.88 and $1.95 per gallon, respectively, according to AAA East Central’s Gas Price Report. In northeast Ohio, the price rose 6 cents to $1.91 per gallon. The ...

Brewers upended

Sales of wine, spirits and other alcoholic beverages have risen during the coronavirus pandemic like foam in a freshly poured glass of beer. Just not for some craft brewers. Craft beer, particularly brews made by small, artisan producers, is often consumed in bars, restaurants, tap rooms ...

Business briefs

CORTLAND BANCORP RECOGNIZED: Cortland Bancorp, the holding company of Cortland Bank, was again named to American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts list. In the publication’s May issue, American Banker ranked Cortland Bancorp 105th. Last year Cortland ...

Property transfers

Property transfers reported in Trumbull County April 22-29 Bazetta Gus Polychronis LLC to Grant A. and Mary J. Oakes, 3625 Larchmont Ave., $1,150,000 Brookfield Jason Michael Kidd to Robert A. Blair and Michelle L. Lucy, 7201 Northview, $141,000 Champion Carolyn L. Covert to Paul E. ...

Levin furniture stores in Valley won’t be saved

WARREN — Levin Furniture stores in Niles and in Boardman are not part of a deal in bankruptcy court that will keep some of the chain’s stores open. Dallas-based US Assets Inc. and its affiliate, Loves Furniture in Royal Oak, Mich., acquired the inventory and assets of 27 former Art Van ...

Avalon Holdings reports revenue of $14.4 million

WARREN — Avalon Holdings Corp. reported first-quarter net operating revenues of $14.4 million, compared to $14.6 million in the first quarter of 2019. The company incurred a net loss attributable to common shareholders of $800,000 in the first quarter of 2020, compared to $600,000 in ...

Business briefs

Dividend at Middlefield MIDDLEFIELD — Middlefield Banc Corp., the holding company for Middlefield Banking Co., has announced a first-quarter cash dividend of 15 cents per common share. The dividend is payable June 15 to shareholders of record on June 4. The quarterly dividend has been ...

Lordstown Motors announces partnership for hub motors

LORDSTOWN — Lordstown Motors Corp. is partnering with a company based in Slovenia to produce the hub motors that will propel the automaker’s all-electric pickup truck. The company announced Tuesday its licensing agreement with Elaphe Propulsion Technologies to develop the Model L-1500 ...

BRITE companies utilize private equity

WARREN — Two portfolio companies of BRITE Energy Innovators are among the first startups in the U.S. to make use of a relatively new federal program to spur investment in low-income and distressed communities. Warren-based Intwine Connect, an internet of things (IoT) hardware and software ...

Business briefs

HOME SAVINGS APPOINTS BRANCH MANAGER: Stacia Brown of Youngstown was recently appointed manager of Home Savings Bank’s branch at 2996 McCartney Road, Youngstown. Brown, with seven years of industry experience, most recently served as branch manager of a community bank headquartered in The ...