Pittsburgh Business Times articles from February 1992

Pittsburgh Business Times archives from February 1992

Hill District struggling to redevelop commercial district despite obstacles. (Special Report: Commercial Real Estate)
February 24, 1992... Community, church groups target old properties for resurrection HILL DISTRICT -- Years ago, inside the New Granada Theatre on Centre Avenue, jazz greats such as Dizzy Gillespie and Lena Horne wowed Pittsburghers with their legendary talents....

Developers invent financing options to spur deal-making. (Special Report: Commercial Real Estate)
February 24, 1992... Once upon a time, finding financial backers for real estate development deals was relatively routine. A developer typically went to a bank or savings and loan, shared his plans, requested a loan or equity investment, and often left with a smile...

Despite Legent, Sears exits, North Side Market endures. (Sears, Roebuck and Co.) (Special Report: Commercial Real Estate)
February 24, 1992... Lured by easy access, developers strive to move projects forward NORTH SIDE -- Back in the 1960s, city planners considered leveling this Pittsburgh neighborhood and starting over again. "Those plans were certainly put into effect without...

Fleeing the specter of obsolescence, Telesis reinvents itself - once again. (Telesis Computer Corp.) (The Money Lab) (Company Profile)
February 24, 1992... BLAWNOX -- Since 1983, Telesis Computer Corp. has offered computer-hardware maintenance. And it has run major data-processing centers. It has created memory modules for the now-obsolete DEC10 computer, developed point-of-sale software systems...

Joy's stock pays a visit to Mudville, analysts say Street wants lower debt. (Joy Technologies Inc.) (Company Profile)
February 24, 1992... Sold at $17 a share in November, stock has dipped as low as $12.63 DOWNTOWN -- Since returning to the public market in November, Joy Technologies Inc. has become acquainted primarily with the market's ugly downside potential. But analysts who...

Joy Technologies Inc. (Proxy Report Excerpt) (Company Profile)
February 24, 1992... (NYSE: JOY) Joy Technologies Inc., the Downtown-based manufacturer of mining machinery and pollution control equipment, entered the new year recapitalized, but it still remains sizably debt-laden, with revenue dipping in the third quarter of...

Mortgage bankers bristle at low rates offered in lottery.
February 17, 1992... Private lenders say state program unfairly cuts into their markets On Thursday, Feb. 20, state and federal housing leaders are to gather in the glare of television camera lights beneath Harrisburg's capitol rotunda to launch the HomeStart II...

Tiny Peregrine snares Rockwell deal. (Peregrine Systems Inc.'s partnership with Rockwell International Corp.'s Rockwell Graphic Systems division)
February 17, 1992... North Hills software concern to sell maintenance program to papers that own Rockwell's giant Goss printing presses McCANDLESS TOWNSHIP -- Peregrine Systems Inc., a small, relatively obscure developer of computer software for...

Mellon Stuart opens new unit, pursues Kuwait. (Mellon-Stuart Construction Inc.'s new unit Mellon Stuart Construction International to reconstruct amusement park)
February 17, 1992... Global know-how of parent Baker aids bid to fix war-torn theme park NORTH SHORE -- Mellon Stuart Construction Inc., in its most dramatic move since being purchased by Beaver-based Michael Baker Corp. last year, has formed a subsidiary company...

Local china factory may get second life. (Beaver Falls China Co.)
February 17, 1992... Beaver Falls China would return skilled workers to potters' tables BEAVER FALLS -- Highly skilled potters, put out of work a few years ago when the Mayer China Co. relocated, may get another chance to practice their craft at the newly formed...

Johnson Schmidt buys Ohio concern in move to broaden services, market. (Johnson/Schmidt and Associates; Lawler and Associates)
February 17, 1992... Architects, engineers come together after collaborating on projects DOWNTOWN -- Pittsburgh architectural firm Johnson Schmidt & Associates has purchased Columbus-based Lawler & Associates in an attempt to broaden its market by adding...

Insurance agent markets solution for benefits chaos. (Arthur Lapidus; computerized human resource system that takes payroll and benefits administration in-house)
February 17, 1992... DOWNTOWN -- Art Lapidus is after small businesses. Mr. Lapidus isn't a venture capitalist or buyout artist. His company, Arthur Lapidus & Associates, is selling a computerized human resource system that allows small companies to expand their...

Thrifts and banks log improvements, rating agency says. (Bauer Financial Reports Inc.)
February 17, 1992... The story of Western Pennsylvania banks and thrifts in the second and third quarters of 1991 is one where the strong got stronger and the weak, well . . . they got stronger, too. By a margin of more than four-to-one, more financial...

Software firm completing drug-information package. (Camdat Corp.)
February 17, 1992... SOUTH SIDE -- Camdat Corp., a Pittsburgh-based developer and marketer of clinical software applications for physicians, is putting the finishing touches on a drug-information-and-interaction software program that it hopes to offer for sale by...

Beynon affiliates with New York firm. (Beynon and Co.; Riverbank Realty Co.)
February 17, 1992... DOWNTOWN -- Riverbank Realty Co. of Manhattan has formed a contractual affiliation with local broker Beynon & Co. The Pittsburgh company's president, Robert Beynon, said a co-brokerage agreement soon will be signed defining the commission...

FlexRx duo keeps prescriptions moving. (FlexRx Pharmaceutical Services' Linda Schuetz and Karen Silverblatt)
February 17, 1992... NORTH VERSAILLES -- Linda Schuetz, newly promoted to vice president of sales for FlexRx, lists travel as an activity she enjoys. It's a good thing. Fast-growing FlexRx may keep her on the move. When FlexRx began its mail-service pharmacy in...

Developers target old strip malls as '90s profit center. (Special Report: Construction, Design & Engineering) (Industry Overview)
February 17, 1992... Competition, financing crunch has aging centers getting new life Area shopping center developers, anxious to keep working amid a financing environment that frowns on new construction, are breathing new life into the region's hundreds of older...

Carnegie, Latrobe win state funding for rehabilitation. (Special Report: Construction, Design & Engineering)
February 17, 1992... CARNEGIE -- The boroughs of Carnegie and Latrobe each have received $35,000 from the Pennsylvania Department of Community Affairs to upgrade their shopping districts. The money comes from the Main Street funding program that already has funded...

McCormick & McCarthy completes its own redesign; two-year-old architectural firm has history spanning 20 years. (Special Report: Construction, Design & Engineering) (Company Profile)
February 17, 1992... DOWNTOWN -- In the entryway of the Downtown offices of McCormick & McCarthy, an Oliver Design Group sign still hangs. It is nearly all that remains of the firm that Mark McCormick and Janet McCarthy purchased from Oliver Realty/Grubb & Ellis...

Local engineering firms recovering from weak 1991. (Special Report: Construction, Design & Engineering) (Industry Overview)
February 17, 1992... Standstill in capital expenditures forced layoffs at many companies A lingering recession delivered a staggering blow to many Pittsburgh consulting engineering companies, forcing layoffs and even Chapter 11 filings at some firms, but many...

Kimball acquires firm. (L. Robert Kimball and Associates; Chase Architectural Associates P.C.) (Special Report: Construction, Design & Engineering)
February 17, 1992... EBENSBURG -- L. Robert Kimball & Associates, architects and engineers, said it purchased the assets of Chase Architectural Associates P.C. of Syracuse, N.Y. The 22-employee full-service architectural and engineering firm, which was acquired...

CNG's stock taking winter plunge as it falls victim to industry woes. (Consolidated Natural Gas Co.) (The Stock Yard)
February 17, 1992... DOWNTOWN -- Frigid winter weather generally is welcomed by two groups of people -- winter sports enthusiasts and natural gas suppliers, who watch their profits rise in direct proportion to how low the mercury drops. But negative factors in...

Suprex considering public stock sale as it plans for product improvement. (The Money Lab) (Company Profile)
February 17, 1992... Company hopes to beat competitors with new technology developments HARMARVILLE -- Raymond Houck, co-founder of Harmarville-based Suprex Inc., is a firm believer in the notion that there always is room for improvement. As well he should be....

Reed Smith Shaw & McClay. (Law) (Brief Article)
February 17, 1992... Reed Smith Shaw & McClay announced the following new partners in its Pittsburgh office: Edward Bittner Jr., business, finance and health care law; Joseph Klein, litigation; David McAllister, labor and employment law; and David Ziegler,...

Gardner Architects. (Professional Services) (Brief Article)
February 17, 1992... Gardner Architects has named Edwin Pope a partner. The firm now will be known as Gardner & Pope Architects. Prior to joining the firm, Mr. Pope worked as project architect, partner-in-charge and principal for several Pittsburgh firms as well as...

Robertson-Ceco Corp. (Business Notes) (Brief Article)
February 17, 1992... Robertson-Ceco Corp. has completed the sale of its door and domestic wall system business to United Dominion Industries of Charlotte, N.C., for a cash purchase price of approximately $135 million. The two companies had entered into and...

Mannesmann Demag Corp. (Contracts) (Brief Article)
February 17, 1992... LTV Steel Co. awarded Mannesmann Demag Corp. the turnkey contract for the supply of a new two-strand slab caster and ladle metallurgy facility with alloy additive system and new chemistry lab.

Intelcom Support Services. (Contracts ) (Brief Article)
February 17, 1992... Intelcom Support Services was awarded a job order contract by the U.S. Navy to provide construction, alteration and repair work in Guam. The Guam contract is for one year, with two option years. The amount of the contract could be up to $6...

Rochester & Pittsburgh Co. (Dividends) (Brief Article)
February 17, 1992... Rochester & Pittsburgh Co. Indiana, declared a quarterly dividend of 30 cents a share, payable March 2, to shareholders of record Feb. 14.

Amsco International Inc. (Earnings) (Brief Article)
February 17, 1992... Amsco International Inc. reported annual net income jumped 65 percent to $28 million, or 94 cents a share, on revenue of $405 million, a 20 percent increase. Fourth-quarter net income jumped 72 percent to $13 million, or 42 cents a share, on...

BT Financial Corp. (Earnings) (Brief Article)
February 17, 1992... BT Financial Corp., Johnstown, reported 1991 net income rose 5.6 percent to $7.5 million, or $2.52 a share. For the quarter, net income rose 21 percent to $2.1 million, or 71 cents a share. Assets rose 12.7 percent to $892 million as of Dec....

Chambers Development Co. Inc. (Earnings) (Brief Article)
February 17, 1992... Chambers Development Co. Inc. posted a 45 percent jump in 1991 net earnings to $50 million, or 83 cents a share, on revenue of $249 million, a 16 percent rise. For the quarter, the firm reported net income jumped 67 percent to more than $14...

Commercial National Financial Corp. (Earnings) (Brief Article)
February 17, 1992... Commercial National Financial Corp., Westmoreland County, posted a 12 percent rise in 1991 net income to $2.5 million for the year. Assets rose 7.1 percent to $210 million.

Dravo Corp. (Earnings) (Brief Article)
February 17, 1992... Dravo Corp. reported a 1991 loss of $26 million, or $1.95 a share, compared with profit of $20 million, or $1.16 a share, the year earlier. Sales were flat at $296 million. For the quarter, the firm posted a loss of $7.9 million, or 58 cents a...

Johnstown Savings Bank. (Earnings) (Brief Article)
February 17, 1992... Johnstown Savings Bank, Johnstown, reported 1991 net income almost doubled to $1.6 million, or 83 cents a share. For the quarter, it posted a 49 percent jump in net income to $447,365, or 23 cents a share. Assets grew 5.7 percent to $294...

L.B. Foster Co. (Earnings) (Brief Article)
February 17, 1992... L.B. Foster Co. reported an 82 percent plunge in 1991 net income to $573,000, or 6 cents a share, on revenue of $221 million, an 8.7 percent decline. For the quarter, it posted a loss of $1.1 million, or 11 cents a share, on revenue of $45...

National Steel Corp. (Earnings) (Brief Article)
February 17, 1992... National Steel Corp. reported a 1991 loss of $189 million on sales of $2.33 billion, compared with profit of $22 million the year earlier. For the quarter, it posted an $85 million deficit on sales of $628 million, a 3.6 percent decline....

Rochester & Pittsburgh Coal Co. (Earnings) (Brief Article)
February 17, 1992... Rochester & Pittsburgh Coal Co., Indiana, posted for 1991 a 12 percent decline in net income to $16 million, or $4.60 a share, on revenue of $311 million, a 20 percent decrease. For the quarter, the firm posted a 4.5 percent rise in net income...

Wheeling-Pittsburgh Corp. (Earnings) (Brief Article)
February 17, 1992... Wheeling-Pittsburgh Corp., Wheeling, W.Va., posted a 1991 profit of $4.7 million, or 27 cents a share, on revenue of $975 million, a 13 percent decline, compared with a loss of $51 million the year earlier. For the quarter, the firm posted a...

Health care crusade hinges on one thing, experts say: money.
February 10, 1992... Ever since Harris Wofford rode the national health care issue to victory last November in the U.S. Senate race, politicians and policymakers have been busy churning out proposals to revamp a system many say is too expensive, inefficient and...

Dravo refinances $100 million debt.
February 10, 1992... Easing its payment pinch buys time to exploit new federal laws DOWNTOWN -- Dravo Corp., which faced large payments on its long-term debt and the expiration of its revolving loan funds, has completed a $100 million debt restructuring that...

Panelmatic quakes in parent-led purge. (Panelmatic Inc. reorganizes Panelmatic Systems Inc.)
February 10, 1992... Software-engineering division 'totally out of control,' chief said BRIDGEVILLE -- Panelmatic Systems Inc., a $2 million computer systems integrator that specializes in industrial control panels, is enduring a widespread shakeup at the hands...

Westinghouse taps Zamagias for Bourse job. (Westinghouse Credit Corp.; The Bourse Shops; Zamagias Properties)
February 10, 1992... Robinson Town Centre developer to replace Aiello-Nardelli Group SCOTT TOWNSHIP -- Real estate development firm Aiello-Nardelli Group Inc. is expected to lose its grip on The Bourse Shops at Virginia Manor, the upscale retail complex it opened...

Landmark assets in Butler on block. (Landmark Savings Association's Butler County branches)
February 10, 1992... Feds mandate divestiture before merger with Integra goes through DOWNTOWN -- Landmark Savings Association plans to sell three of its four Butler County branches in an effort to satisfy federal banking regulators' antitrust concerns...

Local bank startup earns first profit 18 months after opening for business. (Pittsburgh, Pennsylvania)
February 10, 1992... Wealthy elite, business owners pump $29 million into new bank DOWNTOWN -- Pennsylvania Capital Bank has posted its first black ink just 16 months since its founding -- a rarity in a good economic climate, let alone in these dolorous days....

Photo-processing giant Qualex beefs up Pittsburgh plant.
February 10, 1992... Tale of two cities: Pittsburgh wins, Slippery Rock loses key employer STRIP DISTRICT -- Qualex Inc., a wholesale film developer, is combining its operations with those of Guardian Photo, bringing 80 jobs to the city and increasing expected...

New Yorker grabs Downtown tower in move to expand area investments. (J.S. Karlton Co. Inc. acquires Centre City Tower)
February 10, 1992... Centre City Tower purchased for less than price paid in 1983 DOWNTOWN -- New York real estate management firm J.S. Karlton Co. Inc. late last week entered into an agreement to purchase Centre City Tower, 650 Smithfield St., Downtown. J.S....

Grant Oliver finances parking upgrade. (Pittsburgh International Airport)
February 10, 1992... FINDLAY TOWNSHIP -- Grant Oliver Corp. is spending at least $11 million to upgrade airport-area parking facilities as part of expansion efforts at the Greater Pittsburgh International Airport. But the amount of the loan will be recouped through...

Cleveland Machine moves one local unit to East Coast. (Cleveland Machine Controls Inc.)
February 10, 1992... STRIP DISTRICT -- Cleveland Machine Controls Inc. has laid off 33 workers from its Pittsburgh office as a result of the consolidation of some of its enterprises in Massachusetts. Company spokesman Wade Lamson said the layoffs were the result...

McKees Rocks man signs contract to market fax transmission system. (Rockerfeller Communications; Alternative Technology Corp.; Marketfax)
February 10, 1992... New computer-based technology makes facsimiles a phone call away McKEES ROCKS -- Rockerfeller Communications, a new McKees Rocks-based advertising agency, has just signed an exclusive contract with a New York company to sell the company's...

PNB limiting off-balance-sheet risk; some of country's big banks splurge. (Pittsburgh National Bank)
February 10, 1992... DOWNTOWN -- With major banks briskly beefing up their off-balance-sheet risk, nervous regulators are threatening to impose higher capital standards to cover possible losses. But any such moves shouldn't ruffle Pittsburgh National Bank too much....

Ad executive Tom Rich starts anew at smaller firm. (Adam Filippo & Associates Design Consultants) (People to Watch)
February 10, 1992... DOWNTOWN -- Tom Rich is back. The former president of Ketchum Advertising's Pittsburgh office is now a principal in Adam Filippo & Associates Design Consultants, located at 1206 Fifth Ave. But Mr. Rich, 45, said he does not view his duties...

Former Redshaw owner eschews high tech for oceanography. (Robert Thompsom Jr.) (People to Watch)
February 10, 1992... Sailing, researching, investing; Thompson leads an ideal lifestyle EDGEWOOD -- When Green Tree-based computer software company Redshaw Inc. was sold by its parent, ITT Hartford Insurance Group, to Delphi Information Systems Inc. of California...

West Penn manager works to improve customer interaction. (West Penn Power Co.'s Sandy Copney) (People to Watch)
February 10, 1992... GREENSBURG -- In the past, West Penn Power Co. has had problems abiding by the strict provisions of Pennsylvania Public Utility Commission laws pertaining to customer service and collection rules. But Sandy Copney, 43, has set out to change...

Teller to president; temporary work becomes a career. (Bruce Hostler, Reliance Savings Association president) (People to Watch) (Industry Overview)
February 10, 1992... ALTOONA -- When Bruce Hostler aspired to college in 1955, his parents told him he'd have to pay for it himself. So he took a part-time job as a teller at a local savings and loan -- a job he thought was temporary. But soon the thrift wanted...

Cash and culture clashes slacken local biomedical technology pace. (Special Report: Health Care)
February 10, 1992... But high-tech gurus have faith that commercialization will occur A decade ago, economic development agencies hunting new sources of commercial growth ogled Pittsburgh's wealth of biomedical research and development endeavors. Their assumption...

Braddock hospital's wounds healing as for-profit facility. (Braddock Medical Center) (Special Report: Health Care)
February 10, 1992... Physician involvement, cost-cutting efforts produce small profit in 1991 When Braddock Medical Center decided to take in its physicians as investors in a for-profit joint venture with the hospital nearly two years ago, it attracted a lot of...

Parkvale Financial Corp. (Proxy report excerpts) (Company Profile)
February 10, 1992... (NASDAQ: PVSA) Parkvale Financial Corp., the Monroeville-based holding company that owns Parkvale Savings Bank, continues to shine among its savings and loan peers, posting sizable gains for the quarter ended Dec. 31. Consequently, the...

George Palmer. (PerformanceWorks Inc.) (People) (Brief Article)
February 10, 1992... George Palmer has been appointed president of PerformanceWorks Inc., a Pittsburgh-based company that works to improve individual and organizational productivity. Mr. Palmer's previous human resource experience includes work with Westinghouse...

H.J. Heinz Co. (H.J. Heinz Co.) (People) (Brief Article)
February 10, 1992... H.J. Heinz Co. has appointed David Williams to vice president of finance and chief financial officer. Mr. Williams has been vice president and controller since July 1988. A native of London, he joined Heinz in 1967 as a supervisor of inventory...

Scott Blauvelt. (Earth Sciences Consultants Inc.) (People) (Brief Article)
February 10, 1992... Scott Blauvelt was appointed chief executive officer of Earth Sciences Consultants Inc. The Murrysville-based group of companies consists of Earth Sciences, Antech Ltd. and CRS Inc. Mr. Blauvelt, who formerly served as vice president of...

Brian Hunt. (CRS Inc.) (People) (Brief Article)
February 10, 1992... Brian Hunt, formerly manager of technical services for American Waste Services Inc., was named president of CRS. He has more than 14 years of experience in managing, planning and implementing health and safety, industrial hygiene, and...

A Mellon Stuart Construction Inc. (Contracts) (Brief Article)
February 10, 1992... A Mellon Stuart Construction Inc. joint venture has been awarded a $72.6 million contract to renovate a train terminal for Metra, part of the regional transit authority in Chicago. The work will be performed during the next four years.

Integra Financial Corp. (Dividends) (Brief Article)
February 10, 1992... Integra Financial Corp. declared a quarterly dividend of 32 cents a share for common stock, payable March 1 to shareholders of record as of Feb. 15.

Kennametal Inc. (Dividends) (Brief Article)
February 10, 1992... Kennametal Inc., Latrobe, declared a quarterly dividend of 29 cents a share, payable Feb. 25 to shareholders of record Feb. 10.

Quaker State Corp. (Dividends) (Brief Article)
February 10, 1992... Quaker State Corp. declared a quarterly dividend of 20 cents a share on common stock, payable March 16 to stockholders of record as of Feb. 14.

Westinghouse Electric Corp. (Dividends) (Brief Article)
February 10, 1992... Westinghouse Electric Corp. declared a quarterly dividend of 18 cents a share, a reduction in the regular quarterly dividend from the previous rate of 35 cents a share.

Allegheny Ludlum Corp. (Earnings) (Brief Article)
February 10, 1992... Allegheny Ludlum Corp. reported net income for the year ended Dec. 29 dropped 40 percent to $41 million, or $1.25 a share, on flat sales of $1 billion. Fourth-quarter net, however, more than doubled to $13 million, or 40 cents a share, on sales...

First Commonwealth Financial Corp. (Earnings) (Brief Article)
February 10, 1992... First Commonwealth Financial Corp. of Indiana reported 1991 net income of $15.05 million, or $1.94 a share, on assets of $1.3 billion and net loans of 714.16 million. The previous year First Commonwealth reported net income of $13.78 million,...

F.N.B. Corp. (Earnings) (Brief Article)
February 10, 1992... F.N.B. Corp., Indiana, announced record annual net income of $10 million, or $1.42 a share, a 23 percent increase. Quarterly net income jumped 56 percent to $2.5 million or 36 cents a share.

Grant Street National Bank. (Earnings ) (Brief Article)
February 10, 1992... Grant Street National Bank, which is in liquidation, reported collections on assets for the quarter were $8.8 million, or $2.2 million more than of their adjusted cost. Net assets allocable to shareholder equity declined 3 percent to $22.5...

Landmark Savings Association. (Earnings) (Brief Article)
February 10, 1992... Landmark Savings Association reported a five-fold leap in net income to $5.1 million, or $2.15 a share, for 1991. For the quarter, it posted net income of $829,000, or 35 cents a share, compared with a deficit of $4 million, or $1.71 a share,...

USX Corp. (Earnings) (Brief Article)
February 10, 1992... USX Corp. recorded a $587 million annual loss, or 31 cents a share for Marathon stock and $10 a share for the steel stock. Sales fell 8.7 percent to $18.82 billion. The year before, the company showed an $800 million profit, or $1.92 a share...

Weirton Steel Corp. (Earnings) (Brief Article)
February 10, 1992... Weirton Steel Corp. reported a 1991 loss of $74.7 million, or $3.49 a share, on sales of $1.04 billion. In 1990, the company reported net income of $314,000, or 1 cent a share, on sales of $1.19 billion. For the fourth quarter, the company...

Area's no. 3 bank blitzes the airwaves to show a new face. (Pittsburgh, Pennsylavnia's Integra Bank)
February 3, 1992... Hodgepodge assets aligned at last; soft-sell campaign biggest ever A thirty-something man appears in a television commercial holding a baby in the kitchen. Close-ups of the father hugging and talking and playing with the infant. No voice-over...

Ben Franklin Technology Center hit with budget cut of 16 percent. (Ben Franklin Technology Center of Western Pennsylvania)
February 3, 1992... State-mandated reversal triggers across-the-board cuts for recipients OAKLAND -- In a blow to emerging technology companies in the Pittsburgh area, the Casey administration has quietly moved to cut previously approved funds from the Ben...

Alon Processing to build new plant. (metals processing company)
February 3, 1992... Metals-processor buys parcel in Westmoreland Industrial Park TARENTUM -- Alon Processing Inc. is planning to build a new, multimillion-dollar facility in Allegheny Township, Westmoreland County, that will triple the firm's production...

County delays airport bond pricing, hopes to avoid collision with Denver. (Allegheny County, Pennsylvania; Pittsburgh International Airport; Denver Stapleton International Airport)
February 3, 1992... Midfield Terminal debt offering just one of three to hit Wall Street A new bond issue to complete financing for expansion of the Greater Pittsburgh International Airport has been delayed by a few weeks, perhaps causing it to lock horns in the...

Fellheimer home sold. (Alan Fellheimer, former chairman of Equimark Corp.) (Brief Article)
February 3, 1992... SEWICKLEY HEIGHTS -- Alan Fellheimer, the colorful former chairman of Equimark Corp., has severed his last tie to Pittsburgh: He sold his house in well-to-do Sewickley Heights. Records at the Allegheny County Recorder of Deeds office indicate...

Allied wants LBO debt refinanced, hopes to bring business back home. (Allied Security Inc.; leveraged buyout)
February 3, 1992... OVERBROOK -- Less than two years after undertaking a management-led leveraged buyout, the owners of Allied Security Inc. are hoping to refinance between $20 million and $23 million of their debt and now are looking for a Pittsburgh-area bank to...

Pittsburgh firm buys Canadian lab in March to secure regional market. (MetPath Inc.; U.S. laboratory business of MDS Health Group Inc.)
February 3, 1992... Deal gives Clinical Pathology expanded presence in New York SOUTH SIDE -- The parent company of Clinical Pathology Facility Inc. of Pittsburgh, in a deal valued at more than $50 million, has agreed to acquire the clinical laboratory business...

What do you do with $11 million cash? At Reliable Savings, nothing too flashy. (Reliable Savings Bank's initial public offering)
February 3, 1992... BRIDGEVILLE -- Proceeds from Reliable Savings Bank's initial public offering will be used the same way the institution has been run for 67 years -- conservatively. Chief executive Stephen Grippi said the roughly $11 million anticipated from...

PBGC files to end Blaw Knox pensions. (Pension Benefit Guaranty Corp.)
February 3, 1992... The Pension Benefit Guaranty Corp. has announced that it will file an action with U.S. District Court in Pittsburgh to terminate the Blaw Knox Corp. pension plan, which is underfunded by $81.6 million. Under the law, PBGC is required to...

Air Scent brings sweet smell of Metazene to Mon Valley. (Air Scent International; substance which absorbs odors without creating one)
February 3, 1992... Odor absorber could be firm's ticket to consumer markets BRADDOCK -- It may not be as sexy as NutraSweet, but Metazene, a substance that absorbs odors without creating one, has been acquired by Air Scent International, which it plans to...