LIMA — Superior Credit Union recently received approval to acquire Southeast Financial Credit Union’s Ohio members.
Lima-based Superior acquired branches in Fostoria and Tiffin, including more than 7,000 members and $60 million in deposits. All Southeast accounts will transition to Superior Credit Union on Jan 1, with the exception of certificates of deposit.
“We’re excited to have this opportunity to bring our seasoned products and services to our new members in Seneca County,” said Phil Buell, CEO, Superior Credit Union, in a press release. “We feel strongly that this acquisition will be a win-win for all concerned. I believe our new members will appreciate our commitment to the community, comprehensive product offering, and our focus on member service.”
Superior recently expanded its membership area and can now accept new members who live, work, worship or attend school in 17 northwest Ohio counties, up from its previous six, including Allen, Auglaize, Hancock, Hardin, Logan, Mercer, Putnam, Shelby and Van Wert counties.
JSMC gets $92.2 million to upgrade tanks
LIMA — The Joint Systems Manufacturing Center in Lima will benefit from a $92.2 million contract to upgrade M1A2 SEPv2 Abrams tanks, moving them to the SEPv3 configuration, the U.S. Army announced.
The new design should improve survivability, sustainability and lethality of the tanks.
The work will be performed at the JSMC. That’s in addition to the $371 million awarded in the federal defense bill to upgrade the weapon systems on 81 Stryker vehicles.
Ottawa seeks ‘4 Under 40’ nominees
OTTAWA — The Ottawa Area Chamber of Commerce is looking for nominees for the Putnam County 4 Under 40 award program.
Nominees must be between 18 and 39 at the time of nomination and be employed in Putnam County, consistently demonstrating a commitment to his or her field and industry. The person must also be dedicated to building and fostering relationships, while demonstrating philanthropic involvement in Putnam County.
The program is open to anyone in Putnam County and not just chamber members. Nominations are accepted through Jan. 13 via email to ottawachamber@earthlink.net. Find the nomination form online at http://j.mp/1Ymbz5g.
IFN expands network in southwest Ohio
WAPAKONETA — Wapakoneta-based Independents Fiber Network recently expanded its high-capacity network services into Clinton, Montgomery and Warren counties.
“This addition is part of our ongoing commitment to continue to invest in expanding our fiber infrastructure throughout the region,” said Tim Berelsman, CEO of Independents Fiber Network, in a press release. “As part of our fiber build-out, we have established Points-of-Presence in the vicinity of Lebanon and Vandalia, Ohio. This allows us to offer our suite of Ethernet-Over-Fiber solutions to this area.”
The company was formed in 2003 as a wholly-owned subsidiary of CNI.
ContiTech manufactures 150,000th rubber track
ST. MARYS — ContiTech’s plant in St. Marys hit a milestone recently, manufacturing its 150,000th rubber track.
The company’s tracks are used in construction and agricultural applications to drive high-horsepower tractors, harvesters, grain carts, asphalt pavers and other vehicles.
The milestone batch included work by operators Kevin Zizelman and Jeff Downard; cure operators Deb Lighty, Virgil Kennedy and Tommy Wootan; and finishers and packers Tiff McKee and Mike Wilson.
Since 1992, the company produced more than 3.5 million of track, with an average length of 23 feet. The plant started production in 1940 and was chartered by the United Rubber Workers union in April 1941.
“This is an achievement of which we are particularly pleased because it has helped us sustain our overall business and has been a staple product of this plant,” plant manager Steve Zenar said in a press release. “It is also a testament to the dedication of our employees, their work ethic and commitment to each other, our plant and our company.”
Paulding-Putnam returns $1 million to members
PAULDING — Paulding-Putnam Electric Cooperative’s board of trustees decided to return $1 million to its member-owners over the next month.
They’ll return in the form of capital credits, also known as profits or margins. They’ll appear as a credit on members’ electric bills.
“This process is what sets us apart from other utilities. We’re not in business to make a profit for shareholders. If there is left over money, we give it back to members. We return the money to members around the holidays because that’s when many people need it the most,” said George Carter, CEO and general manager, in a press release.
The cooperative returned nearly $4.7 million to members over the past five years. It has 12,900 member-owners in Allen, Defiance, Paulding, Putnam and Van Wert counties in Ohio and Adams and Allen counties in Indiana.
Koenig Equipment releases free app
BOTKINS — Koenig Equipment, a farm equipment dealer serving Ohio and Indiana, recently released a new mobile application in Apple App Store and Android Google Play.
Customers can get information on locations, contacts and driving directions. They can also get real-time messages about news, events and special offers at Koenig Equipment stores.
The company started in 1904 by John C. Koenig and is run by three generations of the Koenig family. It has 11 locations, specializing in brands such as Ferris, Honda and Stihl.
Business filings higher than year ago
COLUMBUS — The number of new business filings in November in Ohio was 856 higher than in November 2014, according to a press release from Ohio Secretary of State Jon Husted.
There were 7,231 new entities created in November. So far this year, there were 90,446 new businesses formed in Ohio, compared to 86,334 at the same point a year prior. The state is on pace for a record-breaking year for new business filings, Husted said.
Husted credited a recent reduction in business filing fees, making Ohio the least costly state in the region to start and maintain a business.
BIZ BEAT
By Staff Reports
TLNinfo@civitasmedia.com