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Joint Venture

BUSINESS
May 4, 1994 | By Donna Shaw, INQUIRER STAFF WRITER Inquirer staff writer Rich Henson and Reuters contributed to this article
Eastman Kodak Co. yesterday confirmed the rumors: Its pharmaceutical and health-products subsidiary, Sterling Winthrop Inc., is for sale. The announcement raises the possibility that the European operations of Sterling Winthrop, whose American research headquarters is in Montgomery County, could end up with the same French owners as the former Pennwalt Corp., now Elf Atochem North America Inc., in Center City. A German suitor for Sterling Winthrop also came into the picture.
BUSINESS
November 22, 1994 | By Gail Shister, INQUIRER TELEVISION COLUMNIST
The dance is over, and Channel 10 is going home with NBC. Come next fall, Philadelphia channel surfers will find Seinfeld, Blossom and the Today show on Channel 10 (WCAU). Murphy Brown, 60 Minutes and Dr. Quinn, Medicine Woman will be on Channel 3 (KYW). Jay Leno and David Letterman will play musical channels, too. As part of a wide-ranging agreement announced yesterday, NBC and CBS will swap the stations they own in Philadelphia, the country's fourth-largest TV market, and Denver, the 21st.
BUSINESS
July 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The chief operating officer of Philadelphia Energy Solutions Inc. resigned quietly in April, only 13 months after he was brought in to run the sprawling former Sunoco refinery in South Philadelphia, a filing with the U.S. Securities and Exchange Commission reveals. The company did not disclose in the filing this month the reason for David M. Ritter's termination as executive vice president. Ritter, in a telephone interview Wednesday, said he resigned for "personal reasons. " Chief executive officer Philip L. Rinaldi said Ritter departed on "friendly terms.
NEWS
September 7, 2011
Consol Energy Inc. announced Wednesday that it is entering into a joint venture with Hess Corp. to explore and develop Consol's 200,000 acres of Utica Shale in Ohio for natural gas. Consol will receive consideration of $593 million. The deal is the second big shale-gas transaction that Consol has announced in recent weeks. In August, the Canonsburg, Pa., company - best known as a coal producer - announced a $3.4 billion joint venture with Noble Energy Inc. to develop about 663,500 acres of Marcellus Shale leases in Pennsylvania and Ohio.
NEWS
May 21, 2015 | By Jacob Adelman, INQUIRER STAFF WRITER jadelman@phillynews.com 215-854-2615 @jacobadelman
New York-based Carey Watermark Investors plans a $21.3 million renovation of the Ritz-Carlton Philadelphia hotel after acquiring a majority interest in the property, the company said in a release. The renovation, to be done in a joint venture with previous full-owner Philadelphia Hospitality Partners, will cover the South Broad Street hotel's 299 guest rooms, lobby, ballroom and other spaces, Carey Watermark said. Work is due to be completed before the end of June 2016, the company said.
BUSINESS
July 2, 2012 | By Andrew Maykuth and INQUIRER STAFF WRITER
Updated 5:06 p.m. Sunoco Inc.'s Philadelphia refinery, which was threatened with closure at the end of this month, will be reborn as an "energy hub. " The Carlyle Group, a Washington, D.C., private-equity manager, announced plans Monday to operate the refinery with Sunoco as a joint venture called Philadelphia Energy Solutions. The venture will save 850 jobs at the refinery, the largest fuel-production plant in the northeastern United States, and may employ hundreds more if plans to expand production are realized.
BUSINESS
May 26, 2013 | By David Sell, Inquirer Staff Writer
Household-products giant Procter & Gamble Co., which sells Crest and Pampers, changed leaders Thursday, but there was no immediate indication it would affect a joint venture with Teva Pharmaceutical Industries Ltd. "We are delighted by the interaction we have had with P&G and have no reason to expect that will change," Teva chief executive officer Jeremy Levin said Friday evening through a spokeswoman. However, leadership changes can prompt reviews of previous deals and the two men leading the companies when PGT Healthcare was announced in March 2011 are both gone.
NEWS
May 18, 1987 | By Nancy Goldner, Inquirer Dance Critic
Officials of the Pennsylvania Ballet and Milwaukee Ballet have signed an agreement that makes their marriage official. Papers uniting the two companies were officially endorsed on Friday, concluding negotiations that began shortly after the two organizations agreed on Jan. 29 to creation of a joint company that will begin performances in the 1987-88 season. The agreement provides for three entities: the two existing member companies and a new joint-venture company, not yet named.
BUSINESS
September 4, 1987 | By Neill A. Borowski, Inquirer Staff Writer
DX Imaging, a new joint venture of Xerox Corp. and Du Pont Co., plans to move to Uwchlan Township, Chester County, by early next year. The company, formed to develop color-printing and copying machines, expects to employ 200 people within a year in the former Exxon Building on Gordon Drive in Pickering Creek Industrial Park, James E. Shapiro, DX president and chief executive officer, said yesterday. Until this week, DX's parent companies have said only that they were "looking at" locating in the Philadelphia area and, specifically, in Chester County near other high-technology companies.
NEWS
June 19, 2002 | Daily News wire services
Agere Systems to be part of joint venture on chips Agere Systems, Inc., of Allentown, will be part of a joint venture with Motorola Inc. and German chipmaker Infineon to develop and market chip technology for mobile phones and consumer electronics. The new firm, called StarCore, will be based in Austin, Texas. It will have about 100 employees. Delco firm to swap its biz with Leggett & Platt's Foamex International Inc., of Linwood, Delaware County, has signed a letter of intent to transfer its carpet-cushion business to Leggett & Platt in exchange for the latter's polyurethane foam business and an unspecified cash payment.
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