Business Digest

REGION

Gas prices decline

COLUMBUS — Prices at Ohio gas pumps are down 6 cents from last week amid a slide in oil prices to the lowest levels in more than two months.

A survey from auto club AAA, the Oil Price Information Service and Wright Express puts the statewide average for regular-grade gasoline at $2.51 per gallon, down from $2.57 Dec. 7.

Prices are right where they were a month ago but are up from last year at this time, when regular was averaging 80 cents less, at $1.71 statewide.

Oil prices have sunk below $70 per barrel for the first time since early October, pushed down by a strengthening dollar and by signs that OPEC doesn’t plan to cut its output of crude to prop up prices.

RTI idles plans for plant

PITTSBURGH — RTI International Metals Inc. said it has indefinitely idled plans to build a $300 million titanium sponge plant in Hamilton, Miss. As a result, RTI will incur asset impairment and related charges in the range of $65 million to $75 million, the company said.

In addition, RTI also has entered into two additional long-term titanium sponge-supply agreements with Toho Titanium Co., Ltd. and OSAKA Titanium technologies Co., Ltd., both of Japan.

Dawne S. Hickton, vice chairman, chief executive officer and president, said that “taken together with our existing long-term agreement with OTC, which runs through 2016, these contracts, which commence in 2012 and 2013, will provide to RTI a cost-effective source of titanium sponge from proven suppliers through 2021 with volume flexibility that we believe will adequately support our long-term titanium supply needs.”

With headquarters in Pitts-burgh, RTI has a plant in Weathersfield Township.

NATION

Ford praises Obama

WASHINGTON — Ford Motor Co. executive chairman Bill Ford met with President Barack Obama on Monday and endorsed the administration’s handling of the struggling auto industry.

Ford credited Obama for stepping in to help General Motors and Chrysler and prevent auto suppliers from collapsing. Ford said the administration acted “swiftly and forcefully, and it worked.”

GM and Chrysler received billions of dollars in federal aid to go through bankruptcy. Ford Motor Co. avoided taking federal help.

Ford delivered a list of recommendations to the Commerce Department developed at a Detroit business summit on ways to revitalize the economy. It includes developing national energy and manufacturing strategies and encouraging research and development.

Change in SpaghettiOs

CAMDEN, N.J. — Campbell Soup Co. said Monday that it will cut the amount of sodium in its SpaghettiOs canned pastas by up to 35 percent, as food makers increasingly try to make more healthful products for children. Last week, General Mills, which makes Lucky Charms, Trix and Cocoa Puffs, announced that it planned to lower the amount of sugar in its cereals marketed to children.

Many food companies have been increasingly watched by consumers, regulators and health groups over the nutritional value of their products as the U.S. continues to battle a growing childhood obesity problem.

The sodium cut will bring SpaghettiOs in line with Food and Drug Administration and Department of Agriculture requirements for main dishes that are suitable for children. To meet these requirements, food products must be controlled for fat, saturated fat, cholesterol and sodium and contain a significant level of at least two positive nutrients.

From wire reports