Business news in brief | Philadelphia Inquirer | 03/27/2010
March 26, 2010 in Uncategorized by alexakean
Source: Philadelphia Inquirer (Original Article)
In the Region Service company to lay off workers
Worldwide Flight Services Inc. said it would lay off 71 of its 91 workers at Philadelphia International Airport, effective May 3, because the U.S. Postal Service did not renew its contract with the company. In Philadelphia, WFS, which is based in France, provides postal handling services for the post office and cargo handling for United Airlines. – Paul Schweizer
Vishay details its spin-off
Vishay Intertechnology Inc., Malvern, said that it expected to spin off its Vishay Precision Group subsidiary as an independent, publicly traded company in mid-2010 and that a registration statement for the deal had been filed with regulators. Shareholders of the parent company will receive stock in Vishay Precision. The unit makes measurement products and systems and has about $179 million in annual sales. Vishay said in October it intended to spin off the subsidiary. – Paul Schweizer
Pharma services firm makes buy
BioClinica Inc., Newtown, said it bought the assets of TranSenda International L.L.C., Bellevue, Wash., for 578,000 shares of stock. BioClinica shares closed down 17 cents at $4.10, valuing the acquisition
at about $2.4 million. Privately held TranSenda will add $1 million in revenue and an operating loss of $500,000 to BioClinica’s 2010 results, the Bucks County company said. TranSenda provides computer software for the clinical trials of new drugs being developed. BioClinica helps manage the clinical trials. – Paul Schweizer
Court upholds most of case
DuPont Co., Wilmington, failed to overturn most of a case in which it was ordered to pay $381.3 million in damages over a waste pile created by a zinc-
smelting facility in Spelter, W.Va. The Supreme Court of Appeals of West Virginia, in a ruling yesterday, reduced punitive damages and ordered a trial on whether area residents waited too long to bring their claims. If a jury cheap domestic flights from Perth to Brisbane rules in the residents’ favor on that …continue reading
