Friday, April 03, 2009

UPS services affected by volcanic eruptions in Alaska

Volcanic activity at Alaska's Mount Redoubt has caused UPS to reschedule or relocate some flights, but the company says that hasn't had a major impact on its ability to deliver packages.

Anchorage, about 100 miles northeast of the volcano, is the UPS gateway to and from Asia. The volcano spewed ash 15,000 feet or more into the air before erupting Tuesday.

UPS has been getting about three flights a day into Anchorage to serve customers in that area, flying mainly in daylight hours for safety reasons, spokesman Mike Mangeot said.

Instead of using Anchorage as a jumping-off point for Asia, the company has shifted those flights to Seattle, Portland and Honolulu until the volcano quiets down, Mangeot said.

ResCare buys company in Washington state

ResCare said yesterday that it was increasing its West Coast footprint by acquiring a company that provides assistance and services to more than 1,200 people in Washington state.

Louisville-based ResCare said it's buying Home Care of Washington, a Spokane company that offers personal care, housekeeping, meal preparation and other home services in 10 counties. Annual revenues are expected to be $20 million, ResCare said, but other terms were not provided.

Sypris Solutions' lossesrise during restructuring

Sypris Solutions, a Louisville-based manufacturer, reported a loss of $122.25 million, or $6.65 a share, in the three months ended Dec. 31, including one-time charges related to its restructuring.

In the final three months of 2007, Sypris lost $2.2 million, or 12 cents a share. Revenue declined to $94.5 million, from $103.7 million the year before.

For the year, revenue fell to $411.3 million from $435.9 million in 2007. Including charges, for the year Sypris posted a loss of $130.6 million, or $7.11 a share, compared with a 2007 loss of $2.1 million, or 12 cents a share.

Plant consolidations and other downsizings "are now ahead of schedule," Jeffrey Gill, Sypris president and chief executive, said in a statement. Completion is expected in the second half of the year.

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