More than 40 Nokian Tyres employees who are launching a new $360 million tire production factory in Dayton, Tennessee, are returning back to the Volunteer State after training in Russia and Finland.
Bonnie Houle, a Nokian employee had never left the United State or flown on a plane for longer than an hour, was among the group preparing to wrap up six weeks of training abroad.
"The training we've received and the activities we've enjoyed are a once-in-a-lifetime experience," she said.
The overseas training experience provided the factory's first production workers with in-depth knowledge of the tire manufacturing process as the Dayton facility ramps up to tire production in 2020.
The Dayton factory will produce about 4 million tires each year once it reaches full capacity. The company has hired 60 workers so far and will eventually employ as many as 400 people.
Pfizer purchases Array BioPharma
Pfizer is delving deeper into cancer research with a roughly $11.4 billion deal for Array BioPharma, a drug developer that has seen its shares soar since announcing positive clinical trial results earlier this spring.
Pfizer will pay $48 per share in cash for Array, whose product portfolio includes a treatment combination used for advanced skin cancer that is being tested in other cancers as well.
The company said last month that its combination of the drugs Braftovi and Mektovi along with another treatment led to a significant improvement in overall survival in late-stage testing for some patients with colorectal cancer. The company plans to submit results from that study to U.S. regulators for approval later this year.
Pfizer's offer of $48 per share represents a premium of 62 percent to the stock's closing price before the deal was announced.
Sotheby's sells for $3.7 billion
The 275-year-old auction house Sotheby's is being sold to a French Israeli businessman for about $3.7 billion.
Sotheby's, founded in London in 1744, is the oldest company traded on the New York Stock Exchange. If the deal is approved by shareholders and regulators, Sotheby's would become a privately held company for the first time in more than three decades.
The New York company, which started in London, holds auctions in 10 salesrooms worldwide with annual sales turnover exceeding $4 billion.
It reported an adjusted profit last year of close to $130 million and revenue of more than $1 billion.
"Sotheby's is one of the most elegant and aspirational brands in the world, said the buyer, Patrick Drahi. "As a longtime client and lifetime admirer of the company, I am acquiring Sotheby's together with my family."
Boeing to sell 737 Max jets
Boeing is selling its 737 Max planes again.
The company announced at the Paris Air Show on Tuesday that International Airlines Group signed a letter of intent for 200 Boeing 737 aircraft. Boeing says it's the first sale of the jetliner since a March crash in Ethiopia killed everyone on board.
Another 737 Max crashed in Indonesia in October. The sale to the parent company of British Airways and other carriers is a vote of confidence as Boeing works to win back the trust of pilots and passengers.