Business briefs
Published 9:52 pm Tuesday, March 4, 2008
A Swedish company has acquired QPM Aerospace’s metallic rod business in Monroe. SKF, based in Goteborg, Sweden, said it plans to keep the dozen employees at the manufacturing plant, which supplies the Boeing Co. and others. Metallic rods are used in various aerospace applications, including mechanism actuation, airplane structures and equipment suspensions. SKF makes its own metallic rods at a plant in France.
Everett port to offer recorded meetings
Responding to suggestions from residents, Port of Everett officials noted that they will be buying a digital recorder soon so that people who are interested can receive a recording of port meetings over the Internet. The copies should be available for the meetings in April or later. “You can sit down in the morning with coffee and a doughnut and listen to the port commission,” said Commission Chairwoman Connie Niva. “I can’t think of anything more fun than that.”
Got biodiesel? Tell the port
The Port of Everett is look for proposals to make biodiesel available for use by boaters, arriving ships and port equipment. Brandon Whitaker of the port’s engineering department told port commissioners he’d like to see the fuel available at the port’s marina and its marine terminals. Biodiesel is a cleaner fuel that could reduce pollution at the port, he said.
Kimberly-Clark CEO gets hefty pay hike
Kimberly-Clark Corp. Chief Executive Thomas Falk received compensation that the company valued at $10.6 million for 2007, when the maker of Huggies diapers and Kleenex tissues raised profits 21 percent despite higher costs for pulp and energy. The compensation marked a 10.7 percent increase over Falk’s package in 2006, largely due to a bigger bonus in 2007. Falk, 49, earned a 2007 salary of $1.2 million and received a performance-based bonus of $2.5 million, according to Kimberly-Clark’s proxy statement filed Tuesday with the Securities and Exchange Commission.
Indian automaker still wants Jaguar
Indian automaker Tata Motors and a top Ford Motor Co. executive say discussions on selling Jaguar and Land Rover to Tata are still on. A Tata Motors Ltd. spokesman said Tuesday the Indian automaker sees “no roadblocks” in the way of a deal. Lewis Booth, executive vice president of Ford’s European units, said no announcement will be made at this week’s Geneva Auto Show, but he also said there are “no major roadblocks” in the way of a sale, and he expects the sale to be completed by the end of the second quarter.
Oil futures drop below $100
Oil futures fell sharply Tuesday, dropping below $100 on the possibility that OPEC will boost production and on expectations that crude inventories are continuing to rise. Light, sweet crude for April delivery fell $2.93 to settle at $99.52 on the New York Mercantile Exchange after dropping as low as $98.87 earlier. It was crude’s first move below the $100 mark this week and its lowest settlement price since Feb. 25.
From Herald staff and news services
