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Tuesday, Sep. 22, 1998
Business Briefs
Coastal Corp. suspension
From staff and wire reports
HOUSTON - Coastal Corp. plans to suspend operations and eliminate more than 70 worker positions at a chemical plant in Quebec next month because of falling prices for its products, which are used in polyester, soda bottles and other consumer goods.
The Houston-based energy and chemicals company said it will keep 16 employees to maintain its Petrochimie Coastal du Canada subsidiary's plant in Montreal East, Quebec. The other 70 positions will be eliminated or transferred to other Coastal plants, a company spokesman said.
(Coastal Corp. operates a Corpus Christi refinery.)
Central Parking purchase
NASHVILLE, Tenn. - Central Parking Corp., the largest U.S. parking lot operator, said it will buy rival Allright Holdings Inc. for $585 million in stock and assumed debt, almost doubling the number of lots it operates.
Central Parking has annual revenue of about $223 million and operates 2,436 lots. Closely held Allright, based in Houston, has annual revenue of about $216 million, with 2,275 lots. The purchase will boost Central Parking's number of spaces 53 percent to 1.5 million. It will also expand its business in the Midwest, Southwest and California.Post your comments about local news eventsFront Page || Main Index || News || Business || Texas || South Texas Outdoors || Birdwatching || Sports || Entertainment || Selena || Education || South Texas Attractions || World Wide Web