Central Mass In Review
Barre
South Barre Bizman Buys Rail Line
The owner of four South Barre companies has purchased a railroad company that links South Barre and Palmer. John J. Pondelli Jr. bought the Massachusetts Central Railroad from Richard Close of Vancouver, Canada, the company said. Financial terms of the deal were not disclosed. Pondelli's other companies, located at the end of the railroad line, are Wildwood Reload, North American Pellet Co. Inc., York Transportation Inc. and Convenient Wood Fuels Inc.
Devens
Here Comes The Sun
Evergreen Solar announced this morning that it plans to double the size of its new facility at the old Fort Devens army base. Original plans for the facility were for it to have 80 megawatts of annual capacity. But the company now plans to bring the facility's capacity to 160 megawatts by the end of 2009. The company also said it hopes to have 1,000 employees in Massachusetts by 2009, tripling the company's current employee base in the commonwealth.
AMSC Licenses Wind Turbine Design
American Superconductor Corp. of Devens has licensed its proprietary wind turbine design to an Indian company. The company, Ghodawat Industries Pvt. Ltd., already manufactures and sells wind turbine towers and runs wind farms in four Indian states. With the American Superconductor technology, Ghodawat plans to manufacture complete turbines for sale in the Middle East, Southern Asia and Africa.
Fitchburg
HealthAlliance Gives Building To Partner
HealthAlliance Hospital is giving a building on its Burbank campus in Fitchburg to the Community Health Connections Family Health Center. Dawn Casavant, CHC's vice president of development and community relations, said the organization will buy the building, where it has had offices for six years, for $1.
Profits Down For Arrhythmia Research
Fitchburg-based Arrhythmia Research Technology Inc., and its wholly owned subsidiary Micron Products Inc., saw profits drop 41 percent in 2007 as the company worked to develop products outside its core business. The company's net income was $1.3 million, down from $2.2 million in 2006. Total revenue was up 1 percent for the year, to $19.3 million.
Franklin
PLC Cardiology Device Goes To Italy
PLC Medical Systems Inc. of Franklin will begin selling its RenalGuard System internationally thanks to a three-year exclusive distribution agreement with Italian company Artech. As part of the agreement, the Italian company placed an initial stocking order for about $144,000 to support the sales launch.
Gardner
Students Go From 'A To B' At MWCC, Nichols
Starting this fall, students at Mount Wachusett Community College in Gardner will be able to get a bachelor's degree in business from Nichols College without leaving the Mount. A new "A to B" agreement between the colleges allows students to be jointly admitted to MWCC and Nichols. The program is similar to a previously announced partnership between Nichols and Quinsigamond Community College.
Hopkinton
Caliper Promotes Finance Execs.
Hopkinton-based Caliper Life Sciences Inc. has promoted Peter F. McAree from company vice president of finance to senior vice president and CFO. The company said McAree would replace Thomas Higgins, who is stepping down as CFO. McAree is a CPA by training and has worked at Caliper since 2003. The company also promoted Joseph H. Griffith IV to vice president of finance.
Natick
BSX Sells Unit For $30M
Natick-based Boston Scientific Corp. sold its aortic repair unit to TV2 Holding Co. of California for $30 million in cash. The business was known as Boston Scientific Santa Rosa Corp. and was formerly known as TriVascular Inc.
Northborough
Aspen Opens Massive E. Providence Mfg. Facility
Northborough-based Aspen Aerogels tripled its production capacity in one fell swoop with the opening of a new, $30 million, 150,000-square-foot manufacturing facility in East Providence, R.I. The company said it needed the facility, which is already planned to undergo two further expansions, to meet growing demand for its aerogel blanket insulation.
Wayland
Candela Sued By Institutional Investor
Wayland-based Candela Corp. has been sued in U.S. District Court in Massachusetts by the Western Pennsylvania Electrical Employees Pension Fund, alleging violations of the U.S. Securities and Exchange Act. The pension fund filed a class action lawsuit on behalf of purchasers of Candela securities. The complaint alleges that Candela made false and misleading statements about its business and financial results.
Worcester
RXi Behind CytRx Cost Increases
CytRx, the Los Angeles-based parent of Worcester's RXi Pharmaceuticals reported a net loss of $21.9 million for 2007 compared to a loss of $17.2 million the year before. The company reported 2007 revenue of $7.5 million compared to 2006 revenue of $2.1 million. The company said its research and development expenses had nearly doubled from $9.8 million in 2006 to $18.8 million in 2007.
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