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Office equipment industry

Business News Roundup: Strategic Alliances, Takeovers, and Executive Appointments

Strategic Insights

— 2 min read

Milacron Incorporated's board of directors has implemented a stockholder rights plan to safeguard the company's value in case of an unapproved takeover attempt. The plan, set to expire in 2009, limits ownership of Milacron's common shares to 15 percent by any individual or group. Meanwhile, Century Business Services has formed a strategic alliance with the National Planning Corporation, an affiliate of Jackson National Life, to develop and distribute financial and insurance products.

The Columbus-based public relations firm Lord, Sullivan and Yoder has been selected as the agency of record for four central Ohio businesses, including the Buckeye Hall of Fame Cafe, P-O-V Partners Incorporated, and Papa John's Pizza of Central Ohio. With capitalized billings of $70 million in 1997, Lord, Sullivan and Yoder is a prominent public relations and marketing communications firm.

NCR Corporation in Dayton has entered into a formal independent contractor relationship with MicroTechnix International, providing a comprehensive portfolio of end-to-end information technology services. The NCR Corporation, with a long history of providing technology services, will partner with MicroTechnix to offer design and implementation services, project management, and more.

The Hawk Corporation in Cleveland will acquire Allegheny Powder Metallurgy Incorporated, a manufacturer of powder metal components, for an undisclosed amount. Allegheny, with 1998 sales of over $17 million, will merge with Hawk's operations.

Dana Corporation's board of directors has appointed Joseph Magliochetti as the company's president and chief executive officer. Magliochetti previously held the position of president and chief operating officer. Meanwhile, Lincoln Electric Holdings Incorporated in Cleveland has named James Schilling as an officer and vice president of corporate development.

Key Takeaways:

  • Milacron Incorporated's directors have implemented a stockholder rights plan to protect the company's value in case of an unapproved takeover attempt.
  • Century Business Services and the National Planning Corporation have formed a strategic alliance to develop and distribute financial and insurance products.
  • Lord, Sullivan and Yoder has been chosen as the agency of record for four central Ohio businesses.
  • NCR Corporation has established a formal independent contractor relationship with MicroTechnix International to provide end-to-end information technology services.
  • The Hawk Corporation will acquire Allegheny Powder Metallurgy Incorporated, a manufacturer of powder metal components.
  • Dana Corporation has appointed Joseph Magliochetti as the company's president and chief executive officer.
  • Lincoln Electric Holdings Incorporated has named James Schilling as an officer and vice president of corporate development.

Statistics:

  • The Hawk Corporation will acquire Allegheny Powder Metallurgy Incorporated, with 1998 sales of over $17 million.
  • Dana Corporation's 1998 sales reached $12.5 billion.
  • Lord, Sullivan and Yoder had capitalized billings of $70 million in 1997.
  • Milacron Incorporated's stockholder rights plan will expire in 2009.

Sources:

  • Milacron Incorporated's directors' decision to implement a stockholder rights plan
  • Century Business Services' strategic alliance with the National Planning Corporation
  • Lord, Sullivan and Yoder's appointment as agency of record for four central Ohio businesses
  • NCR Corporation's independent contractor relationship with MicroTechnix International
  • The Hawk Corporation's acquisition of Allegheny Powder Metallurgy Incorporated
  • Dana Corporation's appointment of Joseph Magliochetti as president and chief executive officer
  • Lincoln Electric Holdings Incorporated's naming of James Schilling as officer and vice president of corporate development

Sources:

  • COMTEX (www.comtexnews.com)

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