N.Y. company acquires UNICOM, of Woonsocket

Custom Computer Specialists, of Hauppage, N.Y., yesterday said it had acquired Woonsocket-based UNICOM Technology Group, a consultant that provides technology solutions to corporate, education, government and health-care clients in New England. The deal closed July 14. Terms were not disclosed. In New England, the organization will continue to operate as UNICOM and the company’s offices will relocate to Blackstone Valley Place in Lincoln. All client teams will remain in place. The combined organization will have a total work force of 295. Michael Davis, president and chief executive officer of UNICOM, said, “We have known and collaborated with Custom for over 20 years. Our combined strengths allow us to create enormous value on behalf of our clients and deeply support their technology investments.”

Coventry Credit Union adds N. Kingstown

Coventry Credit Union is expanding into North Kingstown with a branch at 7373 Post Rd. The credit union, which first opened in 1950 in Coventry, plans a groundbreaking ceremony at 9 a.m. today at the site. Richard Gingell is chief executive officer.

Fall River YMCA receives training grant

The U.S. Department of Labor’s Employment and Training Administration yesterday awarded nearly $9 million to 11 groups that will provide skills-based education in construction to at-risk young people in 10 states and the District of Columbia through the department’s YouthBuild program. Among the recipients is the Old Colony YMCA in Fall River, Mass., which will receive $900,892. “These grants will provide at-risk youth with skills training, jobs and support to earn a high school diploma or a GED so that they can get on a path to success,” said Secretary of Labor Elaine L. Chao. YouthBuild is an alternative education program that offers training and practical experience for construction industry careers. Participants include young people who have been in the juvenile justice system, are aging out of foster care, are high school dropouts or are otherwise at risk of failing to reach key educational milestones and opportunities that lead to career fulfillment. For more information on YouthBuild, and other youth employment and training programs, visit www.doleta.gov/youth_services

S&P might downgrade Pequots’ credit rating

Standard & Poor’s financial services is considering downgrading the credit rating of the Mashantucket Pequot tribe following declining slot-machine profits at the Foxwoods Resort Casino. S&P has issued a “CreditWatch” with negative bias, meaning the tribe has a 50-percent chance of having its rating downgraded. Company credit analyst Craig Parmelee says it will now conduct a thorough review of the tribe’s rating. Last week, the tribe reported that slot-machine revenue at Foxwoods was down nearly 9 percent over last year’s numbers in June. The tribe’s credit rating was reduced in November from BBB- to BB+. At the time, analysts said they were concerned with the tribe’s high debt leverage, among other things.

Stanley Works OKs quarterly dividend rise

The Stanley Works, of New Britain, Conn., has approved an increase of 3.2 percent in its quarterly cash dividend to 32 cents per common share, extending the company’s record for the longest consecutive annual and quarterly dividend payments among industrial companies listed on the New York Stock Exchange. The dividend is payable on Sept. 23 to shareowners of record on Sept. 5. Stanley, an S&P 500 company, is a diversified worldwide supplier of tools and engineered solutions for professional, industrial, construction and do-it-yourself use, and security solutions for commercial applications. The company also announced that it has completed its previously announced purchase of Sonitrol Corp. for $276 million cash. Sonitrol, with headquarters in Berwyn, Pa., provides security monitoring services, access control and fire-detection systems to commercial customers. In addition, it announced that it has completed the purchase of Xmark Corp., a wholly owned subsidiary of VeriChip Corp. for $48 million cash. Xmark, whose headquarters and principal operations are in Ottawa, Canada, develops, markets and sells radio frequency identification-based systems used to locate and protect people and assets.

Textron unit to build boats for Mexican navy

Textron Marine & Land Systems, an operating unit of Providence-based Textron Inc., has been retained to manufacture six 47-foot motor life boats for the Mexican navy, a sale valued at approximately $24 million. TM&LS will begin construction on the first of these Caterpillar-powered search-and-rescue boats immediately, with a projected delivery in 19 months. The remaining five are to be delivered one every other month following the first. In addition to manufacturing the six boats, TM&LS will provide crew training, which will be done at its shipyard in New Orleans. “The Mexican navy is moving to create an agency much like the United States Coast Guard, and acquiring our proven, effective, safe and efficient search-and-rescue motor life boat will bring their capabilities to the highest possible level,” TM&LS general manager Tom Walmsley said. “This boat is perfectly matched to search-and-rescue duty in all types of weather conditions due to its ability to right itself if overturned in rough seas. We’re proud of the service this boat has given the United States Coast Guard over the last 13 years.”

Wal-Mart to sell Providence firm’s bed line

Providence-based CleanBrands LLC, which creates products devoted to improving the health and comfort of the sleep environment, has announced that Wal-Mart Corp. will now carry the company’s new BeneSleep product line in 2,800 stores across the country. The products feature the company’s proprietary fabric with a weave so small that it that blocks even the tiniest micro-toxins, allergens, dust mites and bed bugs from harming people while they sleep and yet is breathable and machine washable. Company chief executive officer Mike Linn said, “Effective July 1, BeneSleep pillow encasements will be available at 2,800 Wal-Mart stores nationwide and mattress encasements will be available at a selection of 1,000 locations.” Company founder and president Gary Goldberg said, “I created MicronOne fabric technology to help relieve my son’s nighttime asthma and allergy problems….”

With economy down, Mass. lottery sales up

Massachusetts residents spent a record $4.7 billion on the state lottery last year, an increase of $237 million over 2006. Mark Cavanaugh, the lottery’s executive director, credited the increase to updated scratch tickets and a desire for quick money as the economy sours. The lottery will net more than $900 million, which is earmarked in the state budget as local aid for cities and towns. The new Billion Dollar Blockbuster, a $20 ticket, led the way in scratch ticket sales with $600 million in purchases.

U.S. denies Vermont Yankee financial proposal

Federal regulators have turned down the Vermont Yankee nuclear plant’s plan to use some of the money from its decommissioning fund for management of the plant’s nuclear waste, and say the plant has been overestimating the fund’s likely earnings. Plant owner Entergy had been hoping to use some of the money from its decommissioning fund — already hundreds of millions of dollars short of what it needs, by some estimates — to cover the costs of storing and disposing of highly radioactive spent fuel from the Vernon reactor. But in a notice made public last week, the Nuclear Regulatory Commission said Entergy failed “to provide reasonable assurance the spent fuel management withdrawals would not inhibit the ability of the licensee to complete radiological decommissioning.” It ordered Vermont Yankee to “provide a revised spent fuel management plan within 90 days.”