Business
Metals refiner pairs up with Mexican firm
01:00 AM EDT on Wednesday, August 8, 2007
Most business buyers use some sort of financing to acquire a small business, but many steer clear of Small Business Administration loans because they have a reputation for taking too long to obtain. A Web seminar set for Aug. 22 may help clear up some misconceptions about SBA loans — they can be approved in less than a month, the sponsor says — and give prospective borrowers a leg up on their competition. This course is designed for business buyers, sellers, brokers, and agents looking for current information on SBA financing of small and midsize purchases, with or without real estate. It will cover such aspects as how to structure your deal for SBA financing, the differences between conventional and SBA financing, why loans get turned down, why tax forms are important and how they are interpreted by lenders, and coming changes to the SBA loan program.
The online workshop will be taught by Peter Siegel, a consultant specializing in small business loan guidance who has written three books on the subject. Sponsored by BizBen.com and the nonprofit Business For Sale Online Academy, the Web seminar is set for 6 to 7 p.m. on Wednesday, Aug. 22, at www.usabizmart.com/education.
The departure of Dennis Fenton, the executive vice president of operations for Amgen Inc., will not affect the company’s $1.5-billion plant in West Greenwich, spokesman Larry Bernard said. Fenton oversaw the construction of the Rhode Island facility, one of the world’s largest biotechnology manufacturing plants. He has praised its operations, telling The Providence Journal earlier this year that the plant will outlive the arthritis drug Enbrel, whose production was the reason it was built. Amgen announced last Thursday that Fenton will retire at the end of the year. His successor, Fabrizio Bonanni, the company’s senior vice president of manufacturing, is one of Fenton’s top “lieutenants,” Bernard said. There is no reason to believe that Bonanni will dramatically change the company’s strategy in Rhode Island, Bernard said. “There is very little impact in terms of day-to-day operations or long-term strategy,” he said. “There is no reason to believe that anything will be different.” Amgen employs 1,700 people manufacturing Enbrel. Sales of the drug were up 14 percent in the second quarter of this year. “It has really taken off,” Bernard said. “Everything looks strong.”
Following its successful 2007 Challenge, Shape Up RI is hosting four informational meetings for human resources professionals. The meetings will be held on Friday, Aug. 24; Tuesday, Oct. 2; Tuesday, Oct. 9; and Wednesday, Oct. 24. The first three meetings will be held in the Rhode Island Foundation’s Goddard Room, in downtown Providence, and the last will be held at Washington Trust Bank in Westerly. More than 7,000 employees participated this year from such corporations as CVS, Blue Cross & Blue Shield of Rhode Island, Brown University, Lifespan, and Citizens Bank. The wellness campaign also had a significant participation from many small to midsize groups and companies. The presentations will explore the growing rates of obesity and evaluate what can be done by businesses to reverse the trend. Extensive information on how employees can participate in the team-based competition next year will be provided.
Johnson & Wales University will host a part-time job fair on Friday, Sept. 21, from 10 a.m. until 2 p.m. for its undergraduate and graduate students. The fair has been created so that local businesses can meet, interview and potentially hire students who are looking to supplement their incomes and gain experience while attending college. Businesses that want to participate can request registration materials by e-mailing employment@jwu.edu or by contacting Krista Segner at (401) 598-1456 or Price Mason at (401) 598-4602. Space is limited and the deadline for registration is Friday, Sept. 7. A fee of $100 will provide booth space, display table and chairs, and general job applications, along with lunch for two employers from each company.
Outside The Box, a strategic marketing consulting firm based in East Providence, yesterday announced its new media/information product suite, OUTShine, designed to help companies quickly enhance their credibility, image and communications with buyers, stakeholders and the media. OUTShine offers a company multiple options for a customized, professional business information packet including, for example, company background, management biography, product/service overview, frequently asked questions, customer testimonials, etc., in print and electronic formats. These materials are designed to be used flexibly for a variety of purposes, including sales prospecting, media/investor relations, partner program training, marketing promotion and employee orientation. “The new offering aims to be the first stop for both established and start-up firms, as an easy way to catapult and bolster their position in the crowded marketplace,” said Ted Ngo, Outside The Box’s founder. “Unlike expensive, over-engineered solutions from other firms, OUTShine is a simple, cost-effective way for companies to create an image that rivals far larger competitors.”
General Dynamics Armament and Technical Products has been awarded a $26-million contract from U.S. Army Tank Automotive Command, Rock Island, Ill., for the production of M2HB machine guns. Deliveries on the contract will begin next April. Production work will be performed at General Dynamics’ Saco, Maine, facility, which has manufactured the M2 machine gun since 1979. Program management will occur at the company’s facility in Burlington, Vt.
Portland, Maine-based Hydro International, a provider of environmentally sustainable products that control and treat storm water, wastewater and combined sewer overflows, has received a $225,000 contract to supply a grit-removal system for a wastewater treatment plant in Isabela, Puerto Rico. The U.S. Environmental Protection Agency’s Puerto Rico Aqueduct and Sewer Authority will use the Grit King Separator unit to remove grit from water as the wastewater enters the treatment plant. The Grit King is a hydrodynamic separator that removes grit by augmenting gravitational forces. It runs without the use of an external power source, and it does not contain any moving parts.
Gannon & Scott, a Cranston-based refiner and assayer of precious metals, has teamed with Recuperado de Plasticos y Servicios Para Reciciaje S.C. as consultant and sales representative in Mexico. Luis Soltero, principal representative of RPS, founded the business in 2005, focusing on the plastic scrap market. Born in Mexico, Soltero is an industrial engineer with 16 years’ experience in manufacturing, most notably with IBM, in the areas of purchasing, materials planning, quality engineering, new product development and global accounts. “Mr. Soltero’s knowledge of the electronics industry environment will provide significant opportunities for Gannon & Scott” said Ken Dionne, the company’s CEO.
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