Regional Businesses Make Strategic Moves in Ohio

Strategic Insights -

In recent developments across Ohio, several regional businesses have announced significant acquisitions, marketing alliances, and leadership appointments. Fifth Third Bancorp, a Cincinnati-based bank, has signed an agreement to acquire the Emerald Financial Corporation, parent of The Strongsville Savings Bank, while the NCR Corporation in Dayton has partnered with the Tennessee-based Check Solutions Company to provide integrated check-processing solutions. Additionally, Corrpro Companies Incorporated in Medina has acquired the corrosion-related businesses of the D.C. Corrosion Corporation, and Banc One Stop Group has appointed Roger Blackwell to its board of directors. The Eaton Corporation in Cleveland has also promoted Mary Puma to vice president of semiconductor equipment operations.

Key Takeaways:

  • Fifth Third Bancorp is acquiring the Emerald Financial Corporation, with its 15 offices and $670 million in assets, to be merged with the Fifth Third Bank of Northeastern Ohio.
  • The acquisition will significantly expand Fifth Third Bancorp's presence in Ohio, with nearly 29 billion dollars in assets and 469 offices across the state.
  • The NCR Corporation has entered into a marketing alliance with Check Solutions to provide an integrated suite of core check-processing solutions to the banking industry.
  • Corrpro Companies Incorporated has acquired the corrosion-related businesses of D.C. Corrosion Corporation, with annual sales of approximately $3 million.
  • The acquisition expands Corrpro's global presence, with more than 60 offices worldwide providing corrosion control services.
  • Roger Blackwell, a professor of marketing at Ohio State University, has been appointed to the Banc One Stop Group's board of directors, bringing expertise in marketing and research.
  • Mary Puma has been promoted to vice president of semiconductor equipment operations at the Eaton Corporation, with responsibility for the company's $267 million annual semiconductor manufacturing equipment business.

Statistics:

  • Fifth Third Bancorp has approximately $29 billion in assets.
  • The acquisition of Emerald Financial will add 15 offices to Fifth Third Bancorp, expanding its presence to 469 offices across Ohio.
  • Corrpro Companies Incorporated has over 60 offices worldwide providing corrosion control services.
  • The D.C. Corrosion Corporation has annual sales of approximately $3 million.
  • The Eaton Corporation's semiconductor manufacturing equipment business generates $267 million in annual revenue.

Sources:

  • "Fifth Third Signs Agreement to Acquire Emerald Financial Corporation" (COMTEX news service)
  • "NCR and Check Solutions Company Join Forces to Provide Integrated Check Processing Solution" (COMTEX news service)
  • "Corrpro Acquires Corrosion Businesses of D.C. Corrosion Corporation" (COMTEX news service)
  • "Banc One Stop Group Names Roger Blackwell to Board of Directors" (COMTEX news service)
  • "Eaton Corporation Promotes Mary Puma to Vice President of Semiconductor Equipment Operations" (COMTEX news service)