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Business news in brief

In the Region

50 layoffs at aerospace firm

Transicoil L.L.C., which makes aerospace instruments in Collegeville, Montgomery County, is laying off 50 employees because one product line is being shifted to a "sister company" in Wichita, Kan. As required by federal law, Transicoil notified the Pennsylvania Department of Labor and Industry of the layoffs. The letter said the first of the 50 layoffs was to have occurred March 13. Four other employees have been notified they will lose their jobs between Friday and May 9. "The remaining 45 employees will be separated at a date in the future which has not yet been determined," according to the company letter, dated March 13. Transicoil officials could not be reached for comment Friday evening. Transicoil is part of Cleveland-based Transdigm Group Inc. Airborne Systems of Pennsauken and Avionic Instruments L.L.C. of Avenel, N.J., are also Transdigm subsidiaries. - David Sell

Rowan credit rating drops

Standard & Poor's Ratings Services cut the credit rating for Rowan University in Glassboro by a notch, to A from A-plus, citing "weakened financial performance" and "a significant increase in debt" as the school expands its college and medical schools, according to a report by analyst Ken Rodgers. "We were expecting this," Rowan spokesman Joe Cardona said. Rowan wants to expand enrollment from 15,000 to 25,000 by 2023, and growth is costly, Cardona said. Also, Moody's Investors Service analyst Diane F. Viacava told clients that Moody's might cut Rowan's credit rating from its current A2, because the school needs to "grow operating cash flow through growing tuition revenues and expense control" as it prepares to open a 1,400-bed student housing complex next year. - Joseph N. DiStefano

New Del. bridge-ferry COO

The Delaware River and Bay Authority, which operates the Delaware Memorial Bridge and the Cape May-Lewes Ferry, has named Vincent P. Meconi of Wilmington chief operations officer. Meconi is a former secretary of the Delaware Departments of Administrative Services and Health and Social Services. He had also been deputy chief administrative officer for New Castle County, and served a term in the state legislature in the 1980s. Meconi will oversee operations of the bridge and ferry, as well as five regional airports in Delaware and South Jersey. - Paul Nussbaum

Real estate broker on move

Clive G. Mendelow has departed as vice chairman of Philadelphia's Binswanger Management Corp. and joined Philadelphia-based Colliers International as senior managing director-corporate solutions. - Joseph N. DiStefano