SC business notebook, Dec. 5

December 4, 2013 

Sausage casing manufacturer to build new plant

Devro Inc., a producer of manufactured sausage casings for the food industry, is building a new $60 million manufacturing plant in Calhoun County. The new plant will be built at the same site as the existing plant, which is located about 35 miles from Columbia. The building will have space for eight lines, with an expansion capability for 12 lines. Construction will begin in January with four lines expected to be fully operational by December 2015.

Obama orders more renewable sources for electricity

President Barack Obama is ordering the federal government to nearly triple to 20 percent its use of renewable sources for electricity by 2020. Obama says the plan will help reduce pollution that causes global warming, promote American energy independence and boost domestic energy sources such as solar and wind power that provide thousands of jobs. Obama was set to announce the plan Thursday as part of his wide-ranging, second-term drive to combat climate change and prepare for its effects. The Associated Press obtained an advance copy of the executive order.

Lenders failed to give relief to homeowners

Three of the biggest U.S. lenders failed this year to meet some requirements for giving relief to struggling homeowners in a $25 billion settlement over foreclosure abuses, according to an official. The monitor overseeing the settlement said in a report issued Wednesday that Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. together failed to meet seven of the 29 requirements tested in the first half of the year. The failures include requirements to notify borrowers of any missing documents in mortgage modification applications within five days of receipt and to give borrowers accurate information before foreclosure is started. Monitor Joseph Smith said the banks had taken steps to correct the errors.

Jeff Wilkinson and The Associated Press contributed.

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