In the 1st quarter of 2011, Saginaw Future (SF) assisted eight companies that invested nearly $11 million, creating and retaining 927 jobs. Also, seven regional companies won 23 government contracts valued at more than $75 million.
Following is a run down on individual developments and investments:
Morley Companies Inc. continues to expand its data collection and research services, along with customer technical and support services for Fortune 100 clients. Due to additional business contracts, Morley has proposed the addition of 911 jobs (150 to 200 per year until 2015). Morley also expects to invest over $7 million in real and personal property improvements in Saginaw Charter Township. SF assisted the company through the State process for its MEGA application. The Michigan Economic Development Corporation approved a MEGA credit in support of the expansion.
Downtown Area Development LLC plans to increase the size of its new medical office building by 6,200 sq. ft. and will invest an additional $1.6 million. The building will be located on the 900 block of S. Washington Ave. in the City of Saginaw. Midwest Surgical Associates will be located on the first floor and the second floor will offer 11,100 sq. ft. of available medical/office space. SF helped to secure a Brownfield MBT credit for the project, which was approved by MEGA.
Kapex Manufacturing LLC is a machining and fabrication shop, which currently has a manufacturing location in southeast Michigan. Kapex contacted SF to assist in establishing a Saginaw County site, which led to a location on Christy Way in Saginaw Charter Township. The company has relocated four engineering and purchasing staff members and plans to eventually bring part of its manufacturing operations to the location. SF will continue to work with Kapex on upcoming expansion plans.
Expansions
Miller Mold Co. is a Saginaw Charter Township company that manufactures aluminum molds and dies, as well special tooling for the thermoform plastics industry. The company continues to upgrade its equipment and software programs to reduce setup, down-time, eliminate errors and increase efficiencies in order to compete with the best price possible. Miller Mold has also joined a consortium of thermoform companies in hopes of cooperatively competing for business in the industry.
ZENTX Media Group, a full service graphics provider, announced plans for the construction of a new building, which will be located adjacent to the MBS International Airport. It will house operations and production under one roof on a 10-acre site on W. Freeland Rd. Currently ZENTX has two locations – with a main office in Freeland and a custom fabrication and production site located in the City of Midland. With approximately 12,000 sq. ft. at the new location, the company will have the space and capabilities for large-scale projects and mobile interactive spaces, in addition to everyday projects. ZENTX will invest a total of $1 million and add three new positions.
Micron Precision Machining invested over $200,000 in new equipment purchases, which upgraded its inspection and milling department. The company added a new Zeiss Coordinate Measuring Machine and a Haas Vertical Machining Center. Micron Precision is located in Buena Vista Charter Township, has 27 employees and plans to add an additional two positions as a result of this project.
InCal Technologies Inc. expanded for the third time in two years. The company added over $60,000 in new equipment to its inspection and calibration department. InCal also expanded its Buena Vista Charter Township facility to accommodate the new equipment. The company added two new positions as a result of this project.
CIGNYS Corporation purchased a new paint line and forklifts for its City of Saginaw location. The equipment completes CIGNYS’ capital investment program to make the company more competitive. This was the ninth CIGNYS investment in the last four years at all of its locations, totaling nearly $2.5 million.
Also, seven regional companies won 23 government contracts valued at more than $75 million. Company names were not disclosed due to considerations for competition.
Established in 1992, Saginaw Future is a public-private alliance of local businesses, the County of Saginaw, City of Saginaw, 16 local municipalities and the Saginaw County Chamber of Commerce.
SF’s strategic partners also include education, labor and government. Since its beginning, SF has remained dedicated to fostering quality job creation through expansion of local industry and attraction of new business projects to the community.
Sunday, June 19, 2011
Wednesday, June 15, 2011
H-P adds investment in Pontiac
Computer and printer maker Hewlett-Packard Co. will invest $4.8 million to create 250jobs in Pontiac, MI.
HP Enterprise Services already employs 1,976 people at its facility in Pontiac. The Michigan Economic Growth Authority has approved some $3.5 million in state tax credits for Hewlett-Packard over the next seven years based on how many jobs it maintains in the area.
Hewlett-Packard is based in Palo Alto. HP Enterprise Services is the former Electronic Data Systems business started in 1962 by Ross Perot. HP bought it in the summer of 2008 for $13.9 billion.
HP Enterprise Services already employs 1,976 people at its facility in Pontiac. The Michigan Economic Growth Authority has approved some $3.5 million in state tax credits for Hewlett-Packard over the next seven years based on how many jobs it maintains in the area.
Hewlett-Packard is based in Palo Alto. HP Enterprise Services is the former Electronic Data Systems business started in 1962 by Ross Perot. HP bought it in the summer of 2008 for $13.9 billion.
Tuesday, June 14, 2011
Reuters to sell A2 healthcare unit
Thomson Reuters plans to divest its Healthcare business, which employees more than 800 workers at its building on Eisenhower Parkway in Ann Arbor.
The unit, which provides data, analytics and performance benchmarking solutions and services to companies, government agencies and healthcare professionals, offers solutions to identify savings, improve outcomes, fight fraud and abuse and more efficiently manage their healthcare operations.
“Thomson Reuters has strong positions in our chosen markets and we believe we will achieve better all-in returns for our shareholders by divesting the Healthcare business and re-deploying the proceeds in our core franchises," said Thomas H. Glocer, chief executive officer of Thomson Reuters. "We have leading positions in global markets, including legal, tax and accounting, science and intellectual property, financial services and media, where we see significant opportunities for future growth and profitability. While a growing and profitable unit, our Healthcare business lacks the integration with and global scale of our other units, and our disciplined approach to capital allocation convinced us that the expected proceeds from a sale into a consolidating market could be better applied elsewhere in our portfolio,” said Glocer.
The fate of the operation's employees and facility hinge largely on the nature of the buyer. A financial or strategic purchase by, for example, a health care consulting company interested in analytics could leave the division largely in place. A purchaser interested only in individual assets might buy the division to break it down an scatter the components. Expansion, reduction, consolidation or a move for the division are all possibilities.
The Healthcare business in 2010 had revenues of approximately $450 million and an operating margin comparable to the company’s consolidated margin of 19.3%. Following adjustment for this divestiture by removing Healthcare’s results from ongoing businesses, no material impact is expected to the company’s previously announced 2011 outlook. The company expects the divestiture to close before the end of the year.
Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters for the proposed divestiture.
The unit, which provides data, analytics and performance benchmarking solutions and services to companies, government agencies and healthcare professionals, offers solutions to identify savings, improve outcomes, fight fraud and abuse and more efficiently manage their healthcare operations.
“Thomson Reuters has strong positions in our chosen markets and we believe we will achieve better all-in returns for our shareholders by divesting the Healthcare business and re-deploying the proceeds in our core franchises," said Thomas H. Glocer, chief executive officer of Thomson Reuters. "We have leading positions in global markets, including legal, tax and accounting, science and intellectual property, financial services and media, where we see significant opportunities for future growth and profitability. While a growing and profitable unit, our Healthcare business lacks the integration with and global scale of our other units, and our disciplined approach to capital allocation convinced us that the expected proceeds from a sale into a consolidating market could be better applied elsewhere in our portfolio,” said Glocer.
The fate of the operation's employees and facility hinge largely on the nature of the buyer. A financial or strategic purchase by, for example, a health care consulting company interested in analytics could leave the division largely in place. A purchaser interested only in individual assets might buy the division to break it down an scatter the components. Expansion, reduction, consolidation or a move for the division are all possibilities.
The Healthcare business in 2010 had revenues of approximately $450 million and an operating margin comparable to the company’s consolidated margin of 19.3%. Following adjustment for this divestiture by removing Healthcare’s results from ongoing businesses, no material impact is expected to the company’s previously announced 2011 outlook. The company expects the divestiture to close before the end of the year.
Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters for the proposed divestiture.
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