THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, October 12, 1995 TAG: 9510120303
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Short : 47 lines
Tyrolit Corp. will invest roughly $35 million within the next five years to turn its 4-year-old Newport News warehouse into a factory. With the expansion Tyrolit will move its manufacturing operations from Austria to Newport News and hire another 50 to 100 workers, said Paul Miller, city director of planning and development. Tyrolit's announcement comes four years after the maker of grinding wheels abandoned plans to open a factory here. At the time, company executives attributed its change of heart in part to the North American Free Trade Pact, which eliminated tariff barriers on trade between the United States, Canada and Mexico. The Newport News facility currently employs fewer than 30 people, Miller said. (Newport News Daily Press) Siemens Automotive gets award for best plant
The Siemens Automotive operation based in Newport News was ranked among the 10 best plants in the nation by Industry Week magazine. The operation, which employs 1,000, today will host Gov. George F. Allen, Industry Week executives and local government officials at 12:30 p.m. for the magazine's awarding of the Pinnacle Trophy. Siemens was among 10 plants in the United States to be named by Industry Week in 1995, and the only plant in Virginia. Siemans, a division of the automotive sector of Siemens AG of Germany, manufactures fuel injection components for the automotive industry. (Staff) CSX shares rise, stock split planned
CSX Corp. shares rose as much as 3.6 percent after the railroad company raised its quarterly dividend by 18 percent and said it would split its common stock 2-for-1. CSX shares rose as much as 2 7/8 to 81 1/2 in early afternoon trading of 237,400 shares, compared with its three-month daily average of 188,100 shares. The Richmond-based railroad raised the quarterly dividend to 52 cents from 44 cents a share, on a pre-split basis. The dividend is payable Dec. 15 to shareholders of record on Nov. 24. The record date for the stock split is Dec. 4. Shareholders of record will see the stock split Dec. 21, CSX said. (Bloomberg Business News) by CNB