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PUC fines trucking firms; manufacturers with local operations make acquisitions

The Pennsylvania Public Utility Commission recently voted to fine four transportation companies for failure to pay assessments and/or file an assessment report.

The reports demonstrate trucking companies’ gross intrastate operating revenue for various calendar and fiscal years. The companies were fined for violations from 2011 through 2013-14, the PUC said in a news release.

The commission voted unanimously to fine all four companies and revoke their certificates, prohibiting them from operating in Pennsylvania if they fail to pay the fine and file reports for the years in which they failed to file.

The four companies are Louis Kraft Co. (Venango County); Loftus Motor Freight Inc. (Bucks County); Golden Charter Service Inc. (Philadelphia County); and Accurate Transportation LLC (Delaware County).

Under the Public Utility Code, the PUC is funded by assessments of regulated utilities. The code also authorizes the commission to impose civil penalties on utilities for violations of the Public Utility Code and PUC regulations. The companies fined last week failed to respond to the PUC’s requests to bring their assessment reports up to date and in line with the Public Utility Code, the release said.

Recent acquisitions

In manufacturing news, a pair of companies with local operations made recent acquisitions.

Pittsburgh-based PPG Industries, which owns a glass-producing factory in South Middleton Township, Cumberland County, recently bought France-based automotive coatings supplier Revocoat from France’s Axson Group. Financial terms were not disclosed.

Revocoat makes sealants, adhesives, polyurethanes and other products for the automotive industry. According to reports, the company has more than 500 employees, eight manufacturing plants and one research and development facility.

In a similar deal, Carlisle Cos. recently acquired Graco Inc. and its subsidiary, Finishing Brands Holdings Inc. for $590 million in an all-cash transaction, Carlisle Cos. said in a news release.

With annual sales of approximately $275 million, Finishing Brands is a global manufacturer and supplier of finishing equipment and systems serving diverse end markets for paints and coatings, including OE automotive, automotive refinishing, aerospace, agriculture, construction, marine, rail and other industrial applications. The business operates from 26 locations in seven countries.

Carlisle Cos., based in North Carolina, is the parent company of Carlisle Syntec in Carlisle, which produces roofing membranes.

John Hilton

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