News in brief

Walmart donating $25M for virus aid

Walmart Inc. and its charitable foundation will donate $25 million to support organizations responding to the coronavirus pandemic, the company said late Tuesday.

The first grants from Walmart and the Walmart Foundation are expected to be issued this week, the company said in a news release. Details regarding the grants will be released as they are finalized, according to the release.

Walmart said the money will be used to "strengthen the global public health response, bolster food security, and support the needs of local communities in the U.S. and internationally."

A breakdown of the funds shows $10 million will support food banks, school meal programs and other programs that provide access to food; $10 million will go to local communities; and $5 million to help countries prevent and manage the virus.

Kathleen McLaughlin, Walmart's chief sustainability officer and president of the Walmart Foundation, said in the release the Bentonville-based retailer hopes the grants "will help to expand critical response efforts as we continue to work together to address the impact of COVID-19."

-- Serenah McKay

ADC expands, adds 10 jobs in Harrison

ADC Manufacturing has completed an expansion at its Harrison plant on North Industrial Park Road, adding 6,300 square feet and 10 full-time jobs.

The move includes the addition of a PVC fence pipe production line that was relocated from a sister plant in Harrison, according to a news release. The additional space will become the company's warehouse. ADC employed about 50 workers and will eventually employ about 60 when all hiring is complete.

Bob Largent, president and chief executive officer of the Harrison Regional Chamber of Commerce, said the manufacturing operation formerly known as Anchor Die Casting had been in place in the city for more than 50 years and it was exciting to see Merchant Metals, ADC's parent company, invest in the operation.

"This is a big boost," he said.

In a statement, Kathy Slay, the plant's manager said, "Our Harrison team has been at the forefront of quality products and services for years, and their productivity made this expansion possible."

-- John Magsam

21.2-point drop puts state index at 306.98

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 306.98, down 21.2.

"Equities dropped on heightened investor uncertainty following reports of a production shutdown by large U.S. automakers," said Leon Lants, managing director at Stephens Inc. "That was combined with a continued plunge in oil prices as the energy and financials sectors underperformed the market."

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 03/19/2020

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