SMITHFIELD

FGX International consolidating distribution

A year after acquiring California-based Dioptics Medical Products, FGX International has announced it is shutting down the distribution center there and laying off 70 percent of the work force.

The eyewear manufacturing company, best known for its Foster Grant line of sunglasses, plans to eliminate some 45 jobs by the end of March, consolidating distribution functions in Smithfield, The Tribune, a newspaper in San Luis Obispo, Calif., reported Saturday. Twenty employees — those working in marketing, product development and sales — will be retained.

No reason for the layoffs was given, The Tribune said. “We regret the need to reduce employment,” Alec Taylor, FGX chief executive officer, said in a news release. “We understand the disruptions that layoffs cause in people’s lives and in the community.”

All the laid-off employees will receive severance packages.

Dioptics Medical Products was founded in 1979 and has been in San Luis Obispo since 1989. It manufactures sunglasses and optical accessories.

Staff report

WOONSOCKET

CVS extends Blue Cross pharmacy contract

Woonsocket-based CVS Caremark Corp. and Medco Health Solutions Inc. extended their contracts with Blue Cross & Blue Shield of Rhode Island to provide pharmacy services to 4.9 million federal employees, retirees and dependents. The three-year contracts, originally due to expire at the end of 2010, were extended through 2011. CVS provides the retail portion of the contract. Franklin Lakes, N.J.-based Medco said it provides the mail-order portion. Carolyn Castel, a CVS spokeswoman, said the contract generates revenue of about $4 billion a year. Lowell Weiner, a Medco spokesman, wouldn’t disclose the contract’s terms.

Bloomberg

Longtime Textron executive to retire

Mary Howell, executive vice president at Textron, will retire on Dec. 31 after 30 years at the company. Howell joined Textron in 1980 and has been an officer of the corporation for 24 years. She has served on the management committee, comprising Textron’s top executives responsible for the management of the company, for the past 15 years.

“Mary’s leadership in Textron’s defense businesses contributed significantly to the success of the V-22 and H-1 programs, which are vital to the United States Marine Corps,” said Textron chairman and chief executive officer Lewis B. Campbell. “She had an unwavering commitment to our military customers and played a key role in our strategic acquisitions to strengthen our defense capabilities. In addition, Mary has been an effective leader in our pursuit of global business expansion, most recently in India and China.”

Journal staff

Sales of R.I. houses rise in third quarter

Sales of single-family houses in Rhode Island rose 19.7 percent in the third quarter compared with the same period in 2008, according to The Warren Group, a Boston-based real estate tracking firm. There were 2,334 sales from July through September, up from 1,950 during the same months last year. September house sales jumped 37.3 percent to 777 from 566 in September 2008. Year-to-date single-family house sales are up 4.8 percent to 5,487 from 5,235.

“Reduced prices and the first-time homebuyer tax credit have helped push up home sales in Rhode Island and other parts of New England,” said Timothy M. Warren Jr., chief executive of The Warren Group, a real estate tracking firm.

The median price for single-family houses sold in Rhode Island during the third quarter dropped 8.7 percent to $210,000 from $230,000 the prior year. September’s median home price slipped 6.8 percent to $205,000 from $220,000 in September 2008.

Journal staff

Pawtucket

Former Honeywell workers eligible for help

Former workers at Honeywell International, in Pawtucket, who were laid off or had their hours reduced are eligible for Trade Adjustment Assistance benefits, the U.S. Labor Department said Monday.

The workers had to be affected after May 21, 2008, to be eligible for case management and reemployment services, training, and trade adjustment allowances that provide income support.

Honeywell produces transparent heater assemblies.

Journal staff