Business briefs

Ampco-Pittsburgh names former Alcoa executive as new CEO

Ampco-Pittsburgh Corp. named J. Brett McBrayer, who has worked at Alcoa, Rio Tinto Alcan and other companies, as president and CEO, effective July 1. Mr. McBrayer, 52, succeeds John S. Stanik, who announced his retirement last October. Mr. McBrayer also was named a director of the Carnegie-based company. He was most recently president and CEO at Airtex Products and ASC Industries, which manufacture and distribute automotive fuel and water pumps.

PNC is looking to sell the Fairmont Pittsburgh hotel

PNC Financial Services Group is looking to sell the Fairmont Pittsburgh hotel at Three PNC Plaza, Downtown. HFF Inc. has been hired to market the 185-room luxury property, which opened in 2010. PNC “frequently evaluates and realigns its portfolio,” chief communications officer David Chamberlin said. “Selling the hotel will allow the bank to focus on its core businesses.” PNC will continue to own and maintain the rest of the building on Fifth Avenue, including office, retail, banking and parking facilities, he said. Mr. Chamberlin wouldn’t say how much PNC expected to get for the property. Fairmont Hotels & Resorts has a longterm contract to manage the hotel.

Sharpsburg company files for bankruptcy protection

A Sharpsburg carpet and upholstery company has filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code. CGH Carpet & Upholstery Care Inc. listed assets ranging between $100,000 and $500,000 and liabilities between $1 million and $10 million, according to the filing.

Washington County trucking firm files for bankruptcy protection

A Washington County trucking company is seeking to reorganize financially under Chapter 11 of the U.S. Bankruptcy Code. Diamond Head Trucking listed assets ranging up to $50,000 and liabilities between $1 million and $10 million, according to the filing. Among the creditors is former shareholder Kirk Hamilton of Fort Myers, Fla., $500,000, which is disputed; and Richard Rossi of Presto, Pa., $250,000, personal loan.

Cranberry tech company acquired by Atlanta IT firm

Cranberry IT provider, Applications2U, was acquired on June 15 by Accscient, part of FutureTech Holding of Atlanta. The financial details of the deal were not made public. A2U is an

IT provider and consultancy. About 80 percent of the company’s clients are health care providers, according to CEO Dan Dillman.

GE selling distributed power unit for $3.25B

GE is selling its distributed power unit to Advent International for $3.25 billion as it continues to shed businesses. The deal includes distributed power’s Jenbacher and Waukesha engines and manufacturing sites in Austria, Canada and the U.S. The distributed power business had 2017 sales of $1.32 billion and has about 3,000 workers. The deal is expected to close by the fourth quarter.

Party City opening pop-up stores to draw former Toys R Us kids

The demise of Toys R Us in the U.S. has left billions of dollars in sales up for grabs, and Party City Holdco Inc. is going after that gaping hole. Party City plans to operate 50 pop-up toy stores from September through the holiday-shopping season, possibly in former locations of the defunct chain, executives said in an interview. The assortment will include top brands from Hasbro and Mattel and plenty of Santa suits and stockings for Christmas. From staff and wire reports