Wabtec moves forward on $1.8B Faiveley deal Wabtec Corp. has signed a definitive share purchase agreement to acquire a majority interest in Faiveley Transport SA, the company announced Tuesday.
The deal, which was first announced July 27, marks the largest acquisition in Wabtec's history, with a total purchase price of about $1.8 billion. Faiveley Transport has now completed required labor group consultations and the majority shareholders have accepted the Wabtec purchase offer, according to the company.
Closing of the transactions is subject…
Tue, 06 Oct 2015 22:23:55 +0000 ConocoPhillips reportedly plans to buy new building Houston-based ConocoPhillips (NYSE: COP) reportedly plans to buy one of the new buildings it’s leasing in the Energy Corridor.
Real Estate Alert, a commercial real estate industry publication, reports the oil giant has agreed to buy Energy Center 3, at 935 North Eldridge Parkway, for $275 million. Los Angeles-based CBRE reportedly marketed the building.
Meanwhile, CBRE Global Investors also is shopping the Marathon Oil Tower in the Galleria area, according to the same report.
The Marathon Oil…
Tue, 06 Oct 2015 22:21:45 +0000 ATI expects $142M to $148M loss in 3Q Amid challenging business and market conditions Allegheny Technologies Inc. said it will post a loss in the third quarter.
On Tuesday, the company said it is expecting to post a net loss of $142 million, or $1.32 per share, to $148 million, or $1.38 per share, when it reports its third quarter financials Oct. 20.
ATI (NYSE: ATI) said it continued to be pressured by challenges in its Flat Rolled Products segment. Stainless steel demand remained soft due to unusually high domestic inventory levels…
Tue, 06 Oct 2015 22:07:11 +0000 Argentinian gelato shop opens in Miami's Brickell Freddo, an Argentinian gelato chain, was bustling on its first day in Miami's Brickell neighborhood.
The store debuted its second South Florida location Tuesday at 1100 South Miami Ave. in Miami at the 1100 Millecento building, near My Ceviche and Piola.
Its menu features more than 30 flavors of helado that can be put in a cup, waffle cone or waffle "tulip" cup. They can be covered in toppings, made into sundaes or shakes, or dipped in chocolate.
The shop also serves pastries that can be paired…
Tue, 06 Oct 2015 22:03:26 +0000 Stumptown to be sold to a West Coast coffee giant Another homegrown Portland company has been sold.
This time it's Stumptown Coffee Roasters, which Peet’s Coffee & Tea revealed Tuesday it'll buy. Officially, Peet’s will acquire ownership of Stumptown from its existing shareholders, including TSG Consumer Partners LLC. The latter company had held a majority stake in Stumptown.
Terms of the deal weren't immediately disclosed.
Stumptown has a popular coffee shop location in Seattle's Capitol Hill neighborhood.
It's the latest local deal of…
Tue, 06 Oct 2015 22:01:24 +0000 Under new owner, insurance firm expands by nabbing three execs from Wells Fargo Three people from the Sacramento office of Wells Fargo Insurance Services USA Inc. have joined John O. Bronson Co. — bringing a national hospitality practice with them.
Bronson was acquired late last year by Chicago-based Hub International, which said at the time it planned to expand the office.
Kevin Eggleston, the former national hospitality practice leader at Wells Fargo, is now managing a hospitality division for Hub out of Bronson's Sacramento office. Two members of his team at Wells Fargo…
Tue, 06 Oct 2015 21:58:04 +0000 Profit could take a hit if Boeing slows Everett 777 production rate Boeing may be force to cut production of the plane that generates a big chunk of the company's annual profit.
One of Boeing’s two big cash cows, the 777, may be running low on milk sooner than the company hopes.
A Goldman Sachs report, authored by lead analyst Noah Poponak and others, argues Boeing (NYSE: BA) won’t be able to keep building 777s at the current rate of 8.3 planes per month until the new 777X is in full production after 2020. That's because Boeing doesn’t have enough orders…
Tue, 06 Oct 2015 21:57:51 +0000 GoGreen 2015: Portland commercial property energy pilot could be a ‘game-changer' Commercial property owners in Portland reluctant to invest in energy upgrades that can take years to pay off can look to the city’s development commission for a loan.
In a state where energy is cheaper than most, retrofits can seem wasteful to commercial real estate owners, but, speakers at Tuesday's GoGreen Conference said Portland's Commercial Property Assessed Clean Energy (CPACE) pilot could clear the way to a permanent program.
Developed in collaboration with the Multnomah County Board of…
Tue, 06 Oct 2015 21:54:15 +0000
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