Walker Machinery parent buys part of Caterpillar
BELLE, W.Va. -- The parent company of Walker Machinery is buying part of the mining equipment distribution and support business of Caterpillar Inc.
Illinois-based Caterpillar said Thursday that Kentucky-based Boyd Company LLC has acquired Caterpillar's Bucyrus equipment distribution and support business for its territories.
The company has established Whayne-Walker Underground Mining as a new business unit to meet the distribution and support needs.
Whayne Supply Co. and Cecil I. Walker Machinery Co. are authorized Cat dealers in Kentucky, southern Indiana, southeastern Ohio and parts of West Virginia.
The Charleston Gazette reports that Caterpillar has announced similar transactions with other dealers over the last several months.
Belle-based Walker Machinery had been run by the Walker family since 1959. It completed the sale of its mining equipment business to Boyd Co. in April 2010.
Sinclair posts higher 3Q earnings and revenue
BALTIMORE -- TV station operator Sinclair Broadcast Group Inc. said Thursday that its third-quarter net income grew 36 percent, helped by higher revenue from political advertising.
The company, which owns WCHS (ABC) and WVAH (FOX) in the Huntington-Charleston market, earned $26.2 million, or 32 cents per share, up from $19.2 million, or 24 cents per share, in the same period a year earlier.
Revenue rose 44 percent to $260 million from $181 million.
Analysts, on average, were expecting earnings of 35 cents per share on revenue of $256 million, according to FactSet.
Political ad revenue was $27.8 million, up from $2.4 million a year earlier. The company said it expects political ad spending on its stations to hit a record $98.2 million this year.
Honda announces $200M investment, 200 Ohio jobs
MARYSVILLE, Ohio -- Honda says it will make $200 million in new investments at two plants in western Ohio, creating about 200 manufacturing jobs.
The automaker says the expansions for the Anna engine plant and Russells Point transmission plant were announced Thursday to mark Honda's 30th anniversary of auto production in the United States.
Honda says it has invested about $475 million at those plants within the past two years.
It says most of the new jobs and investments will come at the Anna plant where new gear-free transmissions are being manufactured.
The Anna facility is Honda's largest engine plant. It employs about 2,400 people and produces four-cylinder and V6 engines and drivetrain components.
The roughly 1,050 employees at the Russells Point facility make automatic transmissions and four-wheel-drive systems.