TUCSON
TI Automotive sells subsidiary Walbro Engine
TI Automotive sold several subsidiaries, including Tucson-based Walbro Engine Management, to private equity firm Sun Capital Partners this week. Walbro is a manufacturer of carburetors, ignition systems and other products. It has a large maquiladora factory in Nogales, Sonora, as well as a headquarters office at 7400 N. Oracle Road. Last year, Walbro sold its interest in a local manufacturing facility, Tucson Precision Products, which was not part of the sale. A Sun Capital spokesman did not return a call or e-mail seeking comment.
National Bank merger with Stockmen's final
The merger between Phoenix-based National Bank of Arizona and Kingman-based The Stockmen's Bank will be final on Feb. 20, the banks said. The new company, which will retain the National Bank of Arizona name, will have almost 1,300 employees, 53 offices in Arizona and more than $6 billion in assets. National Bank has four branches in the Tucson area, and Stockmen's has one branch in Marana. Founded in Tucson in 1984, National Bank of Arizona is a wholly owned subsidiary of Zions Bancorpora-tion. David Lyons, regional president of National Bank of Arizona, said customers of Stockmen's will still be able to use their current checks and should see no disruption in service. New debit and credit cards are being sent to customers.
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Casas Adobes Chiropractic opens
Doctors Barry L. Rahn and Jay B. Phillips have opened Casas Adobes Chiropractic LLC at 6843 N. Oracle Road, Suite 17. The facility offers rehabilitation with exercise equipment and physiotherapy. Acupuncture and massage services are provided by Peaceful Spirit Therapeutic Massage Center, 320-1953. For chiropractic appointments, call 575-0929 or go to the Casas AdobesChiro.com Web site.
NATION
Charles Walgreen Jr. dies at age 100
Charles R. Walgreen Jr., the son of the founder of Walgreen Co. and the company's former chairman, has died. He was 100. Walgreen died Saturday at his home in Northfield, Ill., Walgreen spokesman Michael Polzin said. Walgreen, trained as a pharmacist, served as the company's president from the time of his father's death in 1939 until 1963, and he was chairman of the board of directors from 1963 to 1976. Walgreen's annual sales grew from $72 million to $817 million during his tenure, the Deerfield, Ill.-based drugstore chain said in a statement. Walgreen's "personal goal was to raise the professional stature and working conditions of pharmacists," the statement said. In retirement, Walgreen obtained an ocean captain's license and sailed the world on his yacht. At age 89, he traveled to Antarctica, where a section of shoreline was named Walgreen Coast for his father by Adm. Richard E. Byrd, a family friend. The trip required him to train for a year.
