BUSINESS DIGEST | Showcase to include CMT-made magnet

Showcase to include CMT-made magnet


Youngstown-based City Machines Technologies Inc. will join President Donald Trump and Vice President Mike Pence at the White House on Monday for an event showcasing products made in America, according to a news release.

President Trump will host companies from across the country to highlight each state’s efforts to support American-made goods.

City Machine Technologies will showcase an American-made industrial lifting magnet.

In addition to rebuilding and manufacturing electromagnets for steel mills and scrap yards, CMT is an industrial service center providing electrical, mechanical, machining and field services to industrial and commercial companies throughout the U.S.

New MAGNET site


The Manufacturing Advocacy and Growth Network (MAGNET), which serves 21 counties in Northeast Ohio, announced a new location will open Aug. 8.

MAGNET South, 9 N. Main St., Akron will help the organization better serve manufacturing companies in Mahoning, Columbiana, Summit, Start, Wayne, Medina, Portage, Tuscarawas and Holmes counties, according to a news release.

The grand-opening event will feature facility tours, guest speakers, the chance to meet local manufacturing executives and interactive displays.

For information and to register to attend the grand opening, visit

Unemployment stats


State officials say Ohio’s seasonally adjusted unemployment rate has increased from May to June, the Associated Press reported Friday.

The state’s unemployment rate rose from 4.3 percent in May to 4.5 percent last month. The rate stood at 5.1 percent in June 2017.

The national rate was 4 percent in June, up from 3.8 percent in May and down from 4.3 percent in June 2017.

The state Job and Family Services Department says Ohio’s nonagricultural wage and salary employment increased by 7,900 jobs from May to June.

Injection-well permit


Bobcat Energy Resources LLC of Canfield applied for a Class II injection-well permit in Hubbard Township, near Hubbard Masury Road.

The well is designed to store brine and wastewater from oil and gas production in the township.

The Canfield company has two injection wells and 500 vertical oil and gas wells in Northeast Ohio and northwest Pennsylvania.

Krispy Kreme to buy Insomnia Cookies


Krispy Kreme is buying a majority stake in Philadelphia-based Insomnia Cookies for an undisclosed sum, the Winston-Salem, N.C.-based doughnut-maker announced Friday.

Seth Berkowitz will remain in charge of Insomnia after the close of the sale later this year. He founded Insomnia Cookies in 2003 when he was a student at the University of Pennsylvania.

Staff/wire reports

Selected local stocks


Alcoa Inc., 40.38-1.18

Aqua America, .20 36.46-0.23

Avalon Holdings,2.200.00

Chemical Bank, .2856.230.11

Community Health Sys, .212.72 -0.05

Cortland Bancorp, .1123.60-0.05

Farmers Nat., .0716.800.50

First Energy, .36 35.35-0.28

Fifth/Third, .1628.510.20

First Niles Financial, .059.750.00

FNB Corp., .1213.560.04

General Motors, .3839.360.05

General Electric, .1213.12-0.60

Huntington Bank, .11 15.090.09

iHeartMedia Inc.,--

JP Morgan Chase, .56111.251.36

Key Corp, .1120.51-0.12

LaFarge, 2.01--

Macy’s, .38 38.65-0.31

Parker Hannifin, .76163.52-1.56

PNC, .75142.431.71

Simon Prop. Grp., 2.88170.47-3.49

Stoneridge 33.70-0.72

United Comm. Fin., .06 11.20-0.08

Selected prices from Friday’s 4 p.m. close

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