Meeting to address metal printing for manufacturing firms

Meeting to address metal printing for manufacturing firms

YOUNGSTOWN

The Youngstown Business Incubator will host an informational meeting about the benefits of metal printing for manufacturing firms from 1 to 4 p.m. Feb. 14.

YBI and Youngstown State University are partnering to help manufacturers take advantage of precision metal parts made by hybrid manufacturing, a process that combines additive manufacturing and traditional manufacturing technologies.

The collaboration will submit a proposal to the Ohio Third Frontier Commission for funding at the end of this month.

To RSVP for the meeting, email bhousel@ybi.org.

Cortland Bancorp reports ’13 results

CORTLAND

Cortland Bancorp, the holding company of Cortland Savings and Banking Co., reported 2013 earnings of $1.8 million, down from $2.9 million the previous year.

Cortland also reported a $462,000 net loss for the fourth quarter of 2013, compared with a $464,000 net loss in the same period in 2012.

The bank attributed the decline to nonoperational losses resulting from changes to the Volker Rule, which originated in the Dodd-Frank Act and prohibited banks from owning more than 3 percent of any individual hedge fund or private-equity fund.

It also prohibited banks from investing more than 3 percent of total equity in private funds.

The bank announced a quarterly cash dividend of 3 cents per share of common stock, payable Feb. 28 to shareholders of record Feb. 10.

American Energy buys land in Utica Shale from Hess

Oklahoma City-based American Energy Partners LP bought dry natural-gas acreage in the Utica Shale from Hess Corp. for $924 million, the Wall Street Journal reported.

Hess announced earlier this week it had sold 74,000 acres to an undisclosed buyer, as it looks to focus on the more-lucrative wet gas found in the Utica.

The company said it would use the proceeds of the sale to repurchase stock.

American Energy Partners is led by CEO Aubrey McClendon.

Allegiant to give to Make-A-Wish

LAS VEGAS

Allegiant Air announced that, beginning today, the airline will donate $1 from every in-flight purchase of its Wingz Kids Snack Pack to the Make-A-Wish Foundation.

The airline will track sales of the $5 snack pack on each route and then donate to local Make-A-Wish chapters.

Allegiant, which operates flights out of Youngstown-Warren Regional Airport in Vienna, sold about 90,000 Wingz packs last year, the company said.

Vindicator staff reports