Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Sales rose for Bayer AG

Sales for Bayer AG rose 11 percent in the third quarter, boosted by strong demand for prescription pharmaceuticals and over-the- counter consumer drugs. Net income jumped nearly 21 percent for the Germany-based company that has the North American headquarters for its Covestro subsidiary in Robinson. Bayer said third-quarter global sales totaled 11 billion euros ($12 billion) and net income was 999 million euros. Covestro, which makes plastics for auto parts, electronics and other products, had worldwide revenues of 3 billion euros including 729 million euros in North America, up 7.5 percent from third-quarter 2014.

Kraft Heinz to sell factory in Italy to Newlat

The Kraft Heinz Co., co-headquartered in Pittsburgh and in Northfield, Ill., has agreed to sell an infant milk and nutrition products factory that employs 168 workers in Ozzano Taro, Italy, to Italian company Newlat Spa for an undisclosed amount. The deal includes a three-year arrangement for Newlat to make Plasmon and Bi- Aglut brand products for Kraft Heinz. All factory staff are expected to transfer to Newlat. The company also confirmed to Crain's Chicago Business that it expects to make an announcement soon about the future of three factories in New York. Crain's quoted sources as saying the former Kraft Foods Group plants could be closed and 950 jobs cut, as the company looks to cut expenses.

Ampco-Pittsburgh reports third-quarter loss

Ampco-Pittsburgh said it lost $1.5 million, or 14 cents per share, in the third quarter vs. a loss of $343,000, or 3 cents per share, in the same period a year ago. Sales fell 11 percent to $58.1 million, the Carnegie industrial products company said.

Alcoa opens expanded plant in Indiana

Alcoa opened a $100 million expansion of its La Porte, Ind., plant, an investment that will broaden its offerings in the commercial aircraft market. The new facility employs 155, a number that is expected to rise to 329 by 2019. The metals producer's project will receive up to $11.1 million in state and local tax incentives based on the number of jobs it creates. …

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