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Quick Takes

June 10, 2012
The Herald-Star

PROMOTED: Steubenville native Lorrie Paul Crum, 47, has been appointed vice president of corporate relations at Kennametal, a Latrobe, Pa., based tooling and industrial materials supplier.

A 1982 graduate of Catholic Central High School, Crum brings more than 25 years of corporate relations experience, including service to a number of public companies including the Timken Co. Parker Hannifin Corp., Newell Rubbermaid and TECO Energy.

In her new position, Crum will report to Kennametal Chairman, President and Chief Executive Officer Carlos Cardoso, ensuring clear and consistent articulation of Kennametal business objectives leading the company's internal and exerternal communication, with worldwide responsibility for corporate communication, government affairs, public relations and the Kennametal Foundation.

In addition to a bachelor's degree in organizational communications and Spanish from Ohio State University, Crum holds a master's degree in public administration from Golden Gate University and is accredited by the Public Relations Society of America.

Throughout her career, Crum has been active in groups such as the Arthur Page Society, the National Investor Relations Institute, the Public Relations Society of America where she served as chapter president; Team NEO (Northeast Ohio regional economic development) Winter Sports for Girls (associated with the U.S. Olympic Foundation), the Salvation Army and United Cerebral Palsy.

SALUTE: Weirton-based SteelOaks Allocator Pro I Investment Strategy has achieved "Top Gun" status within Informa Investment Solution's PSN database for the first quarter 2012.

Located at 3205 Pennsylvania Ave., Weirton, SteelOaks was chosen as one of the top 5 Best Performing Investment Strategies maintaining a return greater than their style benchmark's for the three latest three-year rolling periods. The top five returns for the latest three-year period then become the Top Guns.

The firm's investment strategies also had to meet specific quantitative criteria measured against the style benchmarks for the most recent five-year period.

The PSN database is one of the largest investment manager databases in the country, listing more than 1,400 investment management firms and more than 20,000 investment products.

The competition with the Informa Investment Solution's PSN database is extensive, comrpising major investment firms throughout the U.S. "To be recognized as the Top 5 best performing managers is an achievement we are very proud to have earned," company officials said.

Spinoff: Drugmaker Pfizer Inc. said Thursday it's taking the first steps to spin off its animal health business into a separate company, a long-anticipated move that's part of an ongoing makeover to divest nonpharmaceutical businesses and boost returns to frustrated shareholders.

Pfizer said it is preparing to submit a regulatory filing for a possible initial public offering of a minority stake in the new company, to be called Zoetis. New York-based Pfizer said it will provide more details when it reports its second-quarter results, likely during the first week of August.

Pfizer said the spinoff should be complete by July 2013, a deadline it had previously set.

"Our focus continues to be taking the actions that will generate the greatest after-tax value for our shareholders," Chairman and CEO Ian Read said in a statement.

In mid-morning trading, Pfizer shares rose 17 cents to $22.08.

Just six weeks ago, Pfizer said it agreed to sell its infant nutrition business for $11.85 billion to Swiss food and drink giant Nestle SA. That business primarily sells formula in Asia and other areas outside the United States.

In the third quarter of 2011, Pfizer sold its Capsugel capsule-making business to private equity firm Kohlberg Kravis Robert & Co. for $2.38 billion in cash.

 
 

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