October 15, 2007
Central Mass In Review
ACTON
Drug test co. hires controller
Acton-based Psychemedics Corp. has hired Jennifer Chmieleski as the company's top financial officer. Chmieleski's title will be vice president and controller, and she will be responsible for all internal and external financial reporting, as well as financial analysis and planning, the company said.
FRAMINGHAM
GlassHouse acquires British firm
Framingham IT consulting and services firm GlassHouse Technologies Inc. has acquired data center services company Data Center Moves International of London.
The move will expand Glasshouse's software and services portfolio. Financial terms of the deal were not disclosed.
GARDNER
New products, new losses for Precision
Precision Optics Corp. of Gardner lost more money in 2007 than it did in 2006 despite strong revenue increases for the year and the fourth quarter. The company, which makes optical equipment for surgical applications, reported fourth quarter revenue of $1.1 million compared to revenue of $573,105 in the fourth quarter of 2006. Precision's net loss for the quarter was $594,556.
HOPKINTON
EMC takes on data back-up co.
Hopkinton's EMC Corp. has acquired Utah-based online information back-up and recovery company Berkeley Data Systems Inc. EMC said the acquisition would not affect company revenue or stockholder earnings in 2007. Financial terms of the acquisition were not disclosed.
LEOMINSTER
New title, responsibilities for LCU CFO
The board of directors of Leominster Credit Union has added executive vice president and COO to CFO Gary M. Abrams' title. The combined office was created recently, and gives Abrams responsibility for the credit union's finance division, as well as overseeing operations and internal audit departments.
LUNENBERG
Lunenberg man to head state apprentice program
The state has named Lunenberg carpenter David Wallace as director of the state Division of Apprentice Training. Wallace is a trustee of the New England Carpenters Pension, Annuity and Health Funds. He began his career as a carpenter in Newton, and has held leadership positions with the carpenters union in several Massachsuetts communities.
MILFORD
Pharma co. plans expansion
SeraCare Life Sciences Inc. said it would build a 60,000-square-foot research and manufacturing facility in Milford. When renovations are complete, the facility will house all of SeraCare's 130 Massachusetts employees and the company's corporate headquarters, which are currently located in West Bridgewater.
SOUTHBOROUGH
Averion managers buy staffing division
In an effort to "reach sustainable profitablility," Southborough-based Averion International Corp. has sold its staffing services business to members of the company's management for $2.3 million. The company will get $455,000 in cash up front, deferred payments on $250,000 and has accepted unsecured promissory notes for $1.6 million.
STOW
Exotic car roofs to be made in Stow
Robot-Racing LLC, and its Stow-based manufacturing affiliate Radant Technologies Inc., will manufacture carbon fiber roofs for DiMora Motorcar's Natalia SLS 2 sport luxury sedan. Radant Technologies will produce the roof frame assemblies in their 75,000-square-foot custom facility in Stow.
UXBRIDGE
DEP balks at busted basin
Fafard Real Estate and Development Corp. of Uxbridge has been hit with a $7,500 fine by the state Department of Environmental Protection for violations of the Wetlands Protection Act. The violations occurred during Fafard's development of the Ledgemere Country subdivision off Crownshield Road in Uxbridge.
WESTBOROUGH
AMSC, SoCal Edison to conduct in-grid testing
Westborough's American Superconductor Corp. and Southern California Edison, California's largest electric utility, will team up to test a new kind of high voltage surge protector on California's electric grid with help from a Department of Energy cooperative agreement award. The Department of Energy will provide AMSC with $3.1 million to fund the project through September of 2008.
WORCESTER
Zipping around campus
Zipcar, a car-sharing company, is coming to the College of the Holy Cross in Worcester. The college has arranged for two cars to be available for the campus and the general public - a Toyota hybrid and a Ford Escape. To be eligible to rent a car, drivers need to apply for a Zip Card and pay an annual $35 fee (student rate). Rental costs will be $8 an hour (including gas, insurance, and parking fees).
DCU management contract extended
The city of Worcester has extended its contract with Philadelphia-based SMG to manage the convention center at the DCU Center in downtown Worcester. The extension expires in August of 2012. SMG also manages the DCU Center arena. That contract is also good through June 2012.
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