Share this article

print logo
Business

Moog Inc. has agreed to buy a Czech Republic company for $65 million. Moog plans to acquire VUES, which designs and makes customized electric motors and generators. The company generated 2017 sales of about $37 million. "This business aligns with our core business model of delivering a competitive advantage to our customers by providing custom motion control solution…

Business

Last June, hourly workers at Wendt Corp.'s manufacturing plant in Cheektowaga voted in favor of union representation. Seven months later, they're still trying to complete the next step: agreement on a first contract. The process hasn't been smooth, and reflects the friction that can arise in talks between a union and an employer for a first labor deal. The workers, r…

Business

As 43North prepares for the fifth year of the business plan competition, a new leader is taking the helm. Alex Gress will start as executive director in mid March. Gress said he is eager to build on what 43North has accomplished, both in helping its past prize winners develop and attracting a strong caliber of applicants. Gress, 44, knows the Buffalo Niagara region w…

Business

Half of middle-market business owners and executives in a KeyBank survey said they were "extremely" or "very" likely to complete an acquisition in the next six months. Seventy-five percent of them said they were planning to expand, primarily through adding employees. Asked about the U.S. economic outlook, 55 percent described it as either excellent or very good. Bruc…

A Mitsubishi dealership in Hamburg is about to reopen under new ownership. Upstate car dealer James Provenzano will open James Mitsubishi Hamburg at 5160 Camp Road, formerly the home of Hamburg Mitsubishi, which recently closed. The dealership is expected to debut Thursday or Friday. Provenzano owns a Mitsubishi dealership in Rome, N.Y. He also has dealerships sellin…

Business

The Aurubis Buffalo plant on Military Road could change hands. Its parent company, Germany-based Aurubis AG, said it is in "advanced talks" to sell its flat rolled products segment, which includes the North Buffalo brass and copper products plant. Aurubis and Wieland-Werke AG, also based in Germany, have signed a term sheet covering elements of a possible sale. "A…

Business

M&T Bank racked up 10 excellence awards for customer satisfaction in Greenwich Associates' annual survey of banks. M&T won recognition in both national and regional categories for small business and middle market banking. Greenwich calculated its results based on 30,000 interviews with businesses. More than 600 banks were evaluated; 43 of them received awards…

Business

Bank of America has closed a branch at 1900 Pine Ave. in Niagara Falls. The branch closed Jan. 30. The bank owns the building, at the corner of Pine Avenue and 19th Street, and will eventually put the property on the market, said Tara Burke, a Bank of America spokeswoman. The closest Bank of America branch to that location is about four miles away, at 1263 North Mili…

Business

43North is preparing to name a new executive director: Alexander Gress, who will join the organization from KeyBank, according to sources familiar with the decision. Gress will fill the vacancy created by the departure of John Gavigan. 43North hosts an annual $5 million business plan challenge, aimed at spurring entrepreneurship in the Buffalo Niagara region. This will …

Crime

A man reported being robbed at gunpoint early Sunday morning at Symphony Circle. The victim, who lives on Jersey Street, told Buffalo Police the incident occurred about 1:30 a.m. He said the suspect displayed a silver handgun and demanded his money. The suspect took $70 from the victim and fled on foot.

Featured

Teams with names like Mid Ice Crisis, Here for Beer and Old Skool hit the ice at Buffalo RiverWorks on Sunday, as the Labatt Blue Buffalo Pond Hockey Tournament tried something new: adding a one-day competition as a prelude to the main tournament. More than 200 players from 24 teams competed in three divisions in a game schedule that spanned more than six hours. The lar…

Fiserv has agreed to sell a majority stake in a part of its business that includes an Amherst operation. Wisconsin-based Fiserv will sell a 55 percent share in its lending solutions business to a private equity firm, Warburg Pincus, for about $395 million in after-tax net proceeds. Fiserv will retain a 45 percent share in the business. The deal is expected to close in t…

Workers negotiating for a first contract at Wendt Corp. in Cheektowaga plan to rally outside the plant on Friday, as the company prepares to make temporary layoffs. Hourly workers at the plant, which makes equipment for the scrap recycling industry, approved representation by the Ironworkers Shopmen's union last June and have been bargaining a first contract since then.…

Cornerstone Community Federal Credit Union has selected its next CEO: Eric M. Hepkins. Hepkins will join the Lockport-based credit union from HSBC Bank USA. He will succeed Ann M. Hood, who will retire Feb. 28. Hood has been with the credit union for 34 years, serving as CEO since 2000. Hepkins, a local native, has 17 years of experience in financial services, in…

ESL Federal Credit Union led in the number of 7(a) loans in the Buffalo Rochester region in January, with 17 of them, according to the Small Business Administration. M&T Bank was second, with nine. Through the first four months of the federal fiscal year, M&T led the program, with 58 loans valued at $11.2 million. The federally backed loans help businesses that …