Ohio court is unlikely site for steel import suit
Article Abstract:
Wheeling-Pittsburgh Steel Corp. has filed a suit against 15 Japanese and Russian steel companies for allegedly dumping cheap steel imports in the Ohio market. The company filed its case with the Common Pleas Court in Belmont County, OH, which is regarded an unlikely site for filing a suit over imported steel because there is a likelihood that the judge may be related to a steelworker in the area. The suit accused the foreign steelmakers of flooding the US with steel that are sold cheaply in the market, in effect causing harm to Wheeling-Pittsburgh's business. In the US, foreign steel makers exported a record 4.4 million tons of steel in August 1998 and 26.7 million tons in the first eight months of 1998.
Comment:
Files a suit against 15 Japanese and Russian steel companies for allegedly dumping cheap steel imports in the Ohio market
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Tippins family ends 75 years of ownership
Article Abstract:
Tippins Inc. President John Thomas acquired a majority stake in the Etna, PA-based firm from John and William Tippins, who each own a 30% interest. The sale was concluded in Aug. 13, 1998 and its details were not disclosed. The relinquishment by the Tippins family members of their stake marks the end of the family's ownership of the 75-year-old company. The steel equipment company employs around 300 people and lists $115 million in yearly sales. Tippins was established in 1923 by Leon Tippins, who was then selling used power plant and coal mining machinery with a partner.
Comment:
President John Thomas acquired a majority stake in the Etna, PA-based firm from John and William Tippins for undisclosed terms
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Icahn eyes up troubled Canadian corporation
Article Abstract:
Hamilton, Ontario-based Philip Services Corp., an industrial-waste recycling and scrap-processing company, sold to Mt. Kisco, NY, investor Carl Icahn between Jun. 15, 1998, and May 7, 1998, 11.8 million shares of its stock. Icahn, who is known for placing investments in financially-troubled companies, reportedly paid $6.38 to $3.59 a share for his shares of Philip Services' stock. Icahn is Philip Services' biggest shareholder, controlling in the firm a 9.02% interest for which he gave out $54.1 million.
Comment:
Sells to investor Carl Icahn between 6/15/98 and 5/7/98 11.8 mil shares of its stock
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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