Industrial production risesIndustrial production in...

BUSINESS DIGEST

November 17, 1992

Industrial production rises

Industrial production in October perked up after a summer slump, helped by a large gain in light-truck manufacturing, the government said yesterday. The Federal Reserve said output at factories, mines and utilities rose a modest 0.3 percent last month, only the second increase in five months. Output had fallen 0.2 percent in September and 0.3 percent in August.

Offer for Kelly plant rejected

The Allegany County Commissioners yesterday rejected a $1.5 million offer from a group wanting to buy the idled Kelly-Springfield tire plant in Cumberland and hire 400 people to make tires.

The commissioners had set Friday as the deadline for the group called Cumberland Tire & Rubber to submit its final offer to buy the factory, but then extended the deadline. Yesterday afternoon, the group sent a seven-point counterproposal asking for changes in the $1.5 million factory purchase. The county rejected the counteroffer.

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