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Ice cancels flights, snarls traffic; snow in North Texas forecast

DALLAS (AP) — More wintry weather was expected across parts of North Texas through Wednesday.

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Einstein Bagels closing two Tarrant locations

Einstein Bagels is closing two Tarrant County locations, part of a series of 39 closings around the country, according to the company’s owners, JAB Holding Co.

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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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Plans for Grand Prairie indoor ski resort, Hard Rock Hotel evaporate

Plans for a $215 million indoor ski resort and Hard Rock Hotel in Grand Prairie have been shelved. Sherman Thurston, a member of the development team, sent a

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Solera Holdings to acquire German claims provider

Solera Holdings Inc., a global provider of software and services to the automobile insurance claims processing and decision support industries, said May 27 it has signed an agreement to acquire sachcontrol AG, a property claims business based in Dresden, Germany.
The acquisition is subject to certain closing conditions and is expected to close in the fourth quarter of Solera’s fiscal year ending June 30.
Tony Aquila, Solera’s founder, chairman and chief executive officer, said the acquisition represents the company’s most significant investment yet in strengthening its property claims platform and further extends Solera’s footprint in Germany and Austria.
“sachcontrol will provide leverage to our joint customers by increasing the returns we deliver to them through both high-value auto and property solutions,” Aquila said in a news release.


Earlier on May 12 Solera announced it will acquire the claims-related products and services from the Sherwood group of companies in the United Kingdom and will purchase 100 percent of the insurance and services division of Pittsburgh Glass Works LLC for $280 million in cash.
Both of those transactions also are expected to close in the fourth quarter.
Solera Holdings is headquartered in Westlake and trades on the New York Stock Exchange under the symbol SLH.
On May 7, the company reported revenue for the third quarter ended March 31, 2014, of $262.4 million, a 22.3 percent increase over the prior year third quarter revenue of $214.6 million. After adjusting for changes in foreign currency exchange rates, revenue for the third quarter increased by 21.9 percent over the prior year third quarter revenue. Net income for the third quarter was $19.9 million, a 7.4 percent decrease over prior year third quarter net income of $21.5 million.

--Betty Dillard
bdillard@bizpress.net
 

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