IN BRIEF
HARRISBURG — State environmental officials are offering $10 million worth of incentives to companies, government agencies and nonprofits for the purchase of cars or light trucks that run on natural gas or to convert lighter-weight vehicles that now use gasoline.
The Pennsylvania Department of Environmental Protection launched the program Wednesday in a bid to generate demand for natural gas vehicles. A drilling boom in Pennsylvania and other states in recent years has produced enormous quantities of cheap gas.
The DEP grant program is open to nonprofit organizations, companies, local governments and local transportation agencies for natural gas vehicles weighing less than 14,000 pounds. The program also covers conversion or purchase of electric, propane or other alternative fuel vehicles of any size.
Grants will be awarded in the fall. Funding comes from a tax on utilities.
The program will help put new or converted police patrol cars, passenger vehicles and light-duty trucks on the road, DEP Acting Secretary Chris Abruzzo said.
Earlier this month, the state awarded more than $6.7 million in funding to 18 companies and local governments that switched to natural gas for buses, garbage trucks and other heavy-duty vehicles. That money came from an impact fee on drillers.
RICHMOND, Va. — The ham sandwich you had for lunch is the latest example of China's growing appetite for U.S. investment.Smithfield Foods, one of the biggest pork producers in the U.S., on Wednesday agreed to be bought by Shuanghui International Holdings, the majority shareholder in China's largest meat processor, for about $4.72 billion.The deal, which still faces a federal regulatory review and Smithfield shareholder approval, is the largest takeover of a U.S. company by a Chinese firm. It's the latest in a string of such deals made recently by Chinese companies.But the acquisition is likely to face hefty U.S. scrutiny. It comes at a time when China has had serious food safety concerns, some of which have included Smithfield's suitor, Hong Kong-based Shuanghui.Smithfield said the deal isn't about importing Chinese pork into the U.S. Instead, the company says it's a chance to export into new markets with its brands, such as Smithfield, Armour and Farmland.
ENGLEWOOD, Colo. — Satellite TV operator Dish Network on Wednesday raised its bid for Clearwire, valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel two days before Clearwire shareholders are meeting to vote on a deal.Dish’s bid of $4.40 in cash per share is 29 percent higher than Sprint’s bid of $3.40 per share. Sprint wants to buy the half of Clearwire that it doesn’t already own.Dish’s previous offer, from January, was for $3.30 per share.
