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Business News Digest



Published: Tue, October 31, 2006 @ 12:00 a.m.



REGION

RTI reports earnings

WEATHERSFIELD -- RTI International Metals earned 23 million, or 1.02 a share, on sales of 128.9 million in the third quarter. In the same quarter last year, the parent company of RMI Titanium Co. earned 8.7 million, or 38 cents a share, on sales of 80.3 million. The company said the improved results stemmed from higher prices, increased shipments and reduced administrative expenses. RTI's titanium group, which includes RMI, generated operating income of 24.4 million in the third quarter, compared with 10.9 million in the same quarter last year. The group shipped 4.1 million pounds of mill products in the third quarter at an average price of 21.05 per pound. Shipments in the 2005 period totaled 3 million pounds at an average price of 15.04 per pound.

First Niles earnings

NILES -- First Niles Financial earned 104,000 in the third quarter, compared with 219,000. The company said the decrease partly was the result of a gain on the sale of investments last year. It also had increases in the provision for loan losses and noninterest expenses last quarter. First Niles is the holding company for Home Federal Savings and Loan Association of Niles.

Goodyear to close plant

AKRON -- Goodyear Tire & amp; Rubber Co. said Monday that it plans to close a plant in Tyler, Texas, three weeks after workers at the plant and 15 others went on strike in part because of the tire maker's plan to shut down the factory. The move will eliminate about 1,100 jobs and is part of Goodyear's strategy to end some of its private label tire business.

Trustee of Team NEO

CLEVELAND -- Steve Lewis, chief executive of First Place Financial Corp. of Warren, has been elected a trustee of Team NEO, a regional economic development agency. Also named trustees were James Crutchfield, president and publisher of the Akron Beacon Journal; and Don Misheff, Northeast Ohio managing partner for Ernst & amp; Young.

NATION

KFC plans to phase out cooking with trans fat

NEW YORK -- KFC said Monday it is phasing out trans fats in cooking its Original Recipe and Extra Crispy fried chicken, Potato Wedges and other menu items, but hasn't found a good alternative yet for its biscuits.

Health experts say trans fats raise levels of artery-clogging cholesterol and contribute to heart disease.

The restaurant chain said it will start using zero trans fat soybean oil systemwide in the United States with the rollout expected to be completed by April 2007. KFC said many of its approximately 5,500 restaurants already have switched.

KFC President Gregg Dedrick said there would be no change in the taste of the chicken and other food items.

Crispy Strips, Wings, Boneless Wings, Buffalo and Crispy Snacker Sandwiches, Popcorn Chicken and Twisters also are part of the menu change. But Dedrick said some products, including biscuits, will still be made with trans fat while KFC keeps looking for alternatives.

From Vindicator staff and wire reports




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