Aussie firm buys Big Isle mac nut orchard

An Australian company that processes and markets macadamia nuts on Hawaii island is buying the orchard and processing facilities that it previously leased.

Buderim Ginger Ltd. announced Friday that it has agreed to buy the 3,903-acre mac nut orchard and processing plant in Kapua for $4.5 million through its local subsidiary MacFarms LLC. The sellers are MF Nut Co. and Kapua Orchard Estates LLC, Buderim said.

The sale is expected to close in November.

Buderim is largely a producer of confectionery ginger and ginger-flavored food products but also claims to be the world’s leading processor and marketer of mac nuts through MacFarms and Australia-based Agrimac Macadamias.

Energy efficiency program interns needed

Hawaii Energy and a local nonprofit, Kupu, are seeking to hire four interns for an energy efficency program.

The organizations are looking for current college students or recent graduates with backgrounds in environmental science, sustainability studies, business, economics or communications for an internship that is part of Kupu Hawaii’s Rewarding Internships for Sustainable Employment program.

The RISE internship will run from November to June with two paid positions on Oahu, one on Maui and one on Hawaii Island.

The interns will work with business programs to inspect retrofitted projects and will work to evaluate Hawaii Energy’s residential rebate offerings.

Applications for the program are due by Friday.

Procter & Gamble taking out its batteries

NEW YORK » Procter & Gamble plans to remove its batteries and make Dura­cell a stand-alone company.

The world’s largest consumer products maker, which acquired Dura­cell in 2005, has been trimming its product lineup to focus on its top performers. After it finishes jettisoning more than half its brands around the globe over the next year or two, P&G said it will be left with about 70 to 80 brands. If a split-off of Dura­cell occurs, P&G said its shareholders would have the option of exchanging some, none or all of their P&G shares for shares of the new Dura­cell company. P&G also makes Tide detergent, Pampers diapers and Olay skin care.

The Procter & Gamble Co., based in Cincinnati, said Friday it prefers a spinoff of Dura­cell but that it’s considering a sale or other options for Dura­cell.

U.S. new-home sales flat in September

WASHINGTON » U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.

New-home sales edged up 0.2 percent last month to a seasonally adjusted annual rate of 467,000, the Commerce Department reported Friday. The report also revised down the August sales rate to 466,000 from 504,000.

The pace of sales for newly built homes has improved a mere 1.7 percent so far this year compared with 2013. Only the South has experienced gains in buying year-to-date, while purchases have fallen in the Northeast, Midwest and West.

Housing has struggled to fully rebound since the recession ended more than five years ago. Many potential buyers lack the savings and strong credit history needed to afford a home, causing them to rent or remain in their existing houses instead of upgrading.

Truck costs drag down Ford’s earnings

DEARBORN, Mich. » Ford’s new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it’s a serious drag on profits.

Net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is 700 pounds lighter due to its aluminum construction, is scheduled to go on sale by the end of this year. Revenue fell 2.5 percent to $34.9 billion.

Ford has repeatedly warned investors that this year would be difficult financially. It’s launching a record 23 vehicles worldwide, including the F-150 and the new Mustang sports car that went on sale during the third quarter. It’s also building five plants in Asia and launching the luxury Lincoln brand in China.

ON THE MOVE

The board of trustees at Hawaii Pacific University announced that Geoffrey Bannister will continue as president through 2017. He was selected for the post on Jan. 6, 2011, and took office on July 1, 2011. His experience includes serving as president of Butler University in Indianapolis, Ind.; dean of Arts and Sciences at Boston University; president of Cultural Experiences Abroad; and founding president of the Forum on Education Abroad.

One stockholder/director and 15 lawyers from Alston Hunt Floyd & Ing have been selected for inclusion in the 2015 Best Law­yers in America list. Louise K.Y. Ing has been named 2015 Hawaii Lawyer of the Year by Best Lawyers. Only a single lawyer in each practice area and in each legal community is honored as a Lawyer of the Year. The following lawyers have made AHFI’s Best Lawyers list: Paul Alston, William S. Hunt, Shelby Anne Floyd, Louise K.Y. Ing, Ellen Godbey Carson, David A. Naka­shima, Neil F. Hulbert, Cori­anne W. Lau, Richard J. Kowen, Anna Elento-Sneed, Terry E. Thom­ason, Dianne Winter Brookins, William M. Kaneko, William W.L. Yuen and Kenneth S. Robbins.

SHIP AHOY!

Today’s ship arrivals and departures:

HONOLULU HARBOR