Central Mass In Review
Fitchburg
$15K Fine For Fitchburg Building Supply Co.
Pelletier's Building Supply Co. of Fitchburg and Gardner has been fined $15,000 by the Massachusetts Department of Environmental Protection for discharging vehicle wash water into the Nashua River at its Fitchburg facility. The company has agreed to pay a $2,000 penalty and develop storm water pollution prevention plans for both of its facilities. The remaining $13,000 was suspended pending compliance, the DEP said.
Framingham
GTC Obtains Orphan Status for ATryn
Framingham biotechnology company GTC Biotherapeutics Inc. announced that the FDA has granted orphan status to its ATryn drug treatment for patients with hereditary antithrombin deficiency, or HD. Orphan status provides GTC with seven years of marketing exclusivity upon product licensure, as well as an automatic waiver of the FDA's application user fee, the company said. GTC said it plans on submitting a rolling Biologics License Application for ATryn in the first half of 2008.
Franklin
Franklin Commerce Center Fetches $20M
The 223,450-square-foot Franklin Commerce Center in Franklin has been sold for $20.3 million, according to commercial broker Richards Barry Joyce & Partners of Boston. According to RBJ, which brokered the sale of the 20 Freedom Way property, the property features 32 loading docks, high ceilings and is occupied by Owens & Minor Inc., Lindenmeyr Munroe and Dealer Tire. The building is part of the Franklin Industrial Park and was built in 2003.
Hopkinton
EMC On Top Of Growing Data Storage Mountain
Hopkinton-based data storage company EMC Corp. owns more than 25 percent of the growing worldwide data storage market, but its competitors are slowly eroding its lead, according to a new study released by Framingham market intelligence company IDC. EMC's share of the multi-billion dollar storage market fell two percent in the third quarter of 2007 compared to the same period in 2006 to 25.6 percent, while competitors Symantec and IBM both gained market share, the study found.
Littleton
Dover Saddlery Refinances Debt
Littleton-based equestrian products retailer Dover Saddlery has negotiated a new debt refinancing package that the company says will help it finance the rollout of new retail stores. The new credit and debt package increases the company's senior line of credit from $16 million to $18 million and places it with RBS Citizens Bank. A consortium of sub-debt lenders, led by BCA Mezzanine Fund LP is providing a $5 million sub-debt facility, replacing a $3 million loan from Patriot Capital Funding LLC. The company said the new package reduces its senior debt cost by 50 to 100 basis points.
Marlborough
Evergreen Solar Gets Silicon Supply Agreement
Marlborough-based Evergreen Solar has signed a 10-year supply agreement with a French firm called Silicium de Provence SAS, or Silpro. Silpro will provide Evergreen Solar with 100 percent of the silicon the company needs to meet its ambitious sales goal of more than 1 gigawatt of solar panels from 2008 to 2012. Silicon is used in the production of solar panels. Silpro is expected to begin shipments in mid-2010.
Regus Opens Marlborough Facility
A Texas-based company that rents fully furnished and equipped offices to businesses has opened a new facility at Cedar Hill Place in Marlborough. The Regus Group keeps furnished, equipped offices in 950 locations in 70 countries and charges clients a flat rate to use the space. The Cedar Hill space is 15,000 square feet in a Class A building and has 68 offices, 109 workstations, a boardroom, a fitness center, a cafeteria and a video conferencing center.
Milford
Swedes Snap Up Milford Firm
Milford loss prevention company LP Innovations has sold is Securex division to Sweden's Securitas Systems US Inc. Securitas will now be the exclusive U.S. distributor of Securex retail alarm and monitoring services.
Natick
BSX Sells Two Businesses For $425M
Natick-based Boston Scientific has agreed to sell off two of its business units to Avista Capital Partners, a New York-based private equity group, for $425 million. Boston Scientific is selling its fluid management and venous access businesses. The deal is expected to close in the first quarter of 2008 after receiving regulatory approvals. Avista said that under its ownership, it would combine the two businesses, and operate them under a new name. Ron Sparks, an Avista health care industry advisor, will become the chairman and CEO of the new company, while Dave McClellan, president of Boston Scientific's Oncology business, will become president.
Middlesex Savings Bank Tops In SBA Export Lending
The U.S. Small Business Administration has recognized Natick-based Middlesex Savings Bank as the top Massachusetts SBA lender to businesses involved in international trade. The SBA's Massachusetts district office announced its lender awards recently, and said 15.2 percent of Middlesex Savings' 2007 loan approvals were to firms that export. Citizens Bank approved 384 SBA loans, making it the top SBA lender in Massachusetts in number of loans. But Sovereign Bank approved $17 million in SBA loans, making it the top lender in total dollars.
Worcester
CPAs Form New Firm
Three Central Mass. CPAs have decided to form a new firm just in time for tax season.
Mark L. Love, Michael L. Jarominski and Donald E. Raymond will keep their current offices in Worcester and Webster and open new offices in Holden and Grafton as the firm Love, Jarominski & Raymond CPAs.
WBJ Web Partners
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