Universal buys finished steel business

Article Abstract:

Universal Stainless & Alloy Products said it will acquire the assets of AL Tech Specialty Steel Corp. in a $38-million deal. Bridgeville, PA-based Universal expects to double its annual sales as a result of the contract with the bankrupt Dunkirk, NY-based steel producer. Universal showed sales of $79 million for the 12 months ended Sept. 30, 1998, while Al Tech reported sales of $84 million for the same period. Clarence "Mac" McAninch, Universal president, said the company's client base will extend to the power generation and aerospace businesses due to the purchase.

Comment:

Says it will acquire the assets of AL Tech Specialty Steel Corp. in a $38-million deal

United States, Iron and Steel Mills, Iron and Steel Pipe and Tube Manufacturing from Purchased Steel, Stainless Steel, Structural Steel Pipe & Tube, Structural steel, AL Tech Specialty Steel Corp., Universal Stainless and Alloy Products Inc.

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CNG dumps losing marketing division

Article Abstract:

Consolidated Natural Gas Co. (CNG) would sell its unprofitable wholesale energy marketing business, CNG Energy Services of Findlay, PA, to San Diego, CA-based Sempra Energy Trading for $48 million. CNG Energy Services, which accounted for 54% of CNG's revenues, recorded a pretax loss of $17.1 million. CNG took a pretax charge of $66 million in the first quarter of 1998 to cover the costs of the sale of CNG Energy Services. With the purchase, Sempra Energy Trading will become of the 10 biggest natural gas traders in the US.

Comment:

Would sell wholesale energy mktg bsns, CNG Energy Services of Findlay, PA, to Sempra Energy Trading for $48 mil

California, Electric, Gas & Water Utilities, Utilities, Public utilities, Consolidated Natural Gas Co., CNG Energy Services Corp., Sempra Energy Trading Corp.

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Virginia company buying sausage maker in Arnold

Article Abstract:

Arnold, PA-based North Side Foods Corp. will be purchased by Smithfield, VA-based Smithfield Foods Inc. in a proposed deal with undisclosed terms and price. North Side Foods is more-than-$70-million company that supplies restaurant establishments, such as Friendly's, Perkins and McDonald's, with precooked sausage products. Smithfield Foods, on the other hand, makes processed-meat and fresh-pork product brands, such as Esskay, Gwaltney, Smithfield Premium and John Morrell.

Comment:

Will purchase Arnold, PA-based North Side Foods, a supplier of precooked sausage products

Virginia, Fresh Meat, Animal Slaughtering and Processing, Meat Processed from Carcasses, Sausage & Cold Cuts, Meat, Smithfield Foods Inc., North Side Foods Corp.

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