Flag plant set in Havre de Grace
The F. W. Haxel Co., a Baltimore manufacturer of flags, will open a 12,000-square-foot plant next month on U.S. 40 near Havre de Grace.
Production at the new Haxel facility will include sewing and silk screening flags and banners, work that was previously completed outside Maryland. The facility will include a retail flag, flagpole and banner shop.
Merchandise manufactured in Havre de Grace will be sold locally and to companies throughout the United States. The new facility initially will have job openings for eight persons, but employment is expected to expand to 20.
Kornblatt joining Casey firm
Casey & Associates Inc. yesterday announced that Henry S. Kornblatt has joined the commercial real estate brokerage firm, where he will specialize in industrial property sales and leasing. Previously, Mr. Kornblatt was president of the David Kornblatt Co., a real estate development concern that owns the 28-story St. Paul Plaza office tower and Park-It of Maryland Inc.
Delmarva buys Peco unit
Peco Energy has completed the sale of its Maryland retail electric subsidiary, Conowingo Power Co., to Delmarva Power for $150 million. The transaction also includes a 10-year contract for Peco Energy to sell power to Delmarva.
Proceeds will be used to retire long-term debt or for general corporate purposes, Peco said.
Conowingo Power Co. supplies electric service to about 35,000 customers in portions of Cecil and Harford counties.
Vacancy rate declines
The vacancy rate for bulk industrial space in the Baltimore area has dropped from 14.3 percent to 9.8 percent in the last six months, a survey found.
The lower supply has caused rental rates to climb 12 percent to 15 percent in the more active submarkets, according to the Colliers Pinkard's Mid-Year Industrial and Office-Warehouse Market Report.
Activity is hottest in the Baltimore-Washington corridor, where the industrial vacancy rate dropped from 10 percent to 5.4 percent.
News unions to consolidate
The Newspaper Guild yesterday approved a recommendation to merge with the Communications Workers of America.
A merger between the 35,000-member guild and the CWA, an international union representing some 600,000 workers, would bring journalists and technical workers together at a time when U.S. news, publishing and telecommunications firms are combining to form media giants.