May 4, 1994 |
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.
November 22, 1994 |
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.
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.
July 7, 2012 |
Ownership of another Philadelphia-area refinery is about to change. NuStar Energy L.P. said it would sell 50 percent of its asphalt operations, which include refineries in Paulsboro, N.J., and Savannah, Ga., to a joint venture in a transaction expected to be completed by Sept. 30. Lindsay Goldberg L.L.C., a New York private-equity firm with $10 billion under management, will pay $175 million for a 50 percent interest in the joint venture, with San Antonio-based NuStar holding the other 50 percent stake.
August 15, 2008 |
Boscov's Department Stores L.L.C., which filed for bankruptcy protection last week, announced today that it will begin store-closing sales at 10 stores on Saturday. The closing locations include two Boscov's in the Philadelphia area - at the Oxford Valley Mall in Langhorne, and the Montgomery Mall in North Wales. The Reading-based chain is closing 10 of its 49 stores in a reorganization under a Chapter 11 bankruptcy. Other closing locations where sales will be conducted are in Baltimore, Glen Burnie, and Owings Mill, Md.; Eatontown, N.J.; Harrisburg, Monroeville and Pittsburgh in Pennsylvania; and Danville, Va. The sales will be operated by a joint venture of retail advisors Gordon Brothers Group L.L.C.
May 18, 1987 |
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.
July 4, 2012 |
Brian P. MacDonald, the son of a coal miner, grew up in a small town in Canada that was devastated by the deindustrialization of North America. "Our whole community got wiped out when we lost all of our coal mines, we lost our steel plant," said MacDonald, 46, who grew up in Glace Bay, Nova Scotia. "Our whole area basically got wiped out, and I saw it happen in my teenage years. " So when MacDonald became chief executive officer of Sunoco Inc. on March 1 and public officials begged him to save the company's 1,400-acre Philadelphia refinery complex from imminent closure, their pleas had a special resonance.
September 4, 1987 |
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.
June 19, 2002 |
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.
January 15, 1987 |
Mediq, a Pennsauken healthcare products and services company, has formed a joint venture with Tishman Speyer Properties, one of the nation's largest real estate developers, to build healthcare complexes. The joint venture will be called Tishman Speyer/Mediq, and will plan, develop and finance projects for large institutions and university medical complexes. Offices will be in Philadelphia and New York. "We have a number of projects - local and national - in mind. There are negotiations going on but no meaningful negotiations at present," said Lionel Felzer, Mediq senior vice president, finance.