The week's business headlines

Profits down for Kyro Corp. in first half of year
Finland’s Kyro Corp. reported operating profits of $11.8 million for the first six months of the year, down 15.1 percent from the first half of 2005, according to a company earnings statement released Aug. 16… read more

CRH PLC stock downgraded by analysts
Shares of Irish CRH PLC were downgraded to “neutral” from “overweight” by Morgan Stanley, according to an Aug. 17 report by the AFX News Ltd. wire service. The stock’s prices have been flat. The wire service reported that the broker attributed the rating to price hikes for aggregates, cement and European float glass. Oldcastle Glass of Santa Monica, Calif., is the U.S. subsidiary of CRH.

Asahi Philippines exports to go up
Officials at Asahi Glass Philippines Inc., a subsidiary of Asahi Glass Co. of Japan, expect exports of $43 million this year, more than double its projected $20 million, according to an Asia Pulse News article Aug. 16. The reason behind the leap is a strong export demand for solar glass covers… read more

Pilkington faces strike in New Zealand
Twenty-three workers from Pilkington’s Te Rapa, New Zealand, site went on strike when negotiations about pay broke down, according to The Waikato Times in Hamilton, New Zealand, on Aug. 12. The workers, members of the Employee and Engineering, Printing and Manufacturing Union, demand a 5 percent pay increase but were offered 4 percent. Union members were prepared to accept the 4 percent hike if company officials agreed to open their books to an independent auditor, according to the article. Managers offered no comment on the strike.