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Business news briefs: Heinz sells a brand, will make plastic packaging products
April 28, 2012 12:45 am From staff and wire reports Heinz sells a brand, will make plastic packaging products
Pittsburgh-based H.J. Heinz co. has sold its Sonnen Bassermann brand, which includes canned soups and stews, to Struik Foods Europe for an undisclosed amount. Heinz, which acquired the brand in 1999 from Groupe Danone, will use the factory in Seesen, Germany, to make plastic packaging products. Twenty jobs in Heinz's Dusseldorf office will be cut.
Construction contract value here has jumped to $140M
The value of contracts for future construction in the Pittsburgh region jumped by 46 percent in March boosted by a huge increase in residential contracts, McGraw-Hill Construction reported Friday. Contracts were valued at $140 million in March, up from $96 million in March 2011. Residential contracts for the month totaled $85 million, more than double the total value of $41.9 million a year ago. For the year to date, contracts totaled $394.8 million, up 10 percent from the first three months of 2011. The region includes Allegheny, Armstrong, Beaver, Butler, Fayette, Washington and Westmoreland counties.
Head of rue21 received $2.6M in compensation
The chairman, president and CEO of Cranberry teen clothing retailer rue21, Robert N. Fisch, received total compensation of $2.59 million in the last fiscal year, according to a regulatory filing. That was almost half the total the previous year when he had picked $2.9 million in stock and option awards. Mr. Fisch's base salary rose from $906,055 to $975,000.
Wal-Mart shoppers can order online, pay in store
Wal-Mart shoppers now will be able to pay cash for online purchases. The world's largest retailer on Thursday said it will allow shoppers to buy items on Walmart.com and then pay for them with cash at all of its 3,800 U.S. stores. The discounter says it's the first major retailer to offer shoppers the opportunity to purchase online without a bank account, or credit, debit or prepaid card.
Also in business …
Allegheny Valley Bancorp Inc., parent company of Allegheny Valley Bank, said net income for the three months ended March 31 rose to $702,000, or 74 cents per share, from $663,000, or 70 cents, in the same period last year. … Koppers Inc. said it extended a sales contract with CSX Transportation through January 2017. Koppers supplies treated railroad cross ties and other railroad products to CSX. … Dan Marino, CBS sports analyst and former University of Pittsburgh and Miami Dolphins quarterback, has signed on as a “men's life ambassador” for another American institution, the AARP. Mr. Marino is 50.
first Published 2012-04-28 04:13:27
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