News Briefs

Bristol-Myers Squibb gets Devens permits in 49 days

DEVENS – The Devens Enterprise Commission has approved permits for Bristol-Myers Squibb Co. to develop a $660 million pharmaceutical plant at Devens. The company filed its permits Sept. 6, receiving approval on Oct. 25, in what’s considered to be a record 49-day review. Objectors can appeal the decision for 30 days from the date of the DEC decision. New York-based Bristol-Myers Squibb expects to begin construction before yearend. The drugmaker plans to construct four buildings covering 397,140 square feet in the project’s first phase. Fully built out, the plant will represent an investment of $1.1 billion.

Jarden to shutter Milford plant that received TIF

MILFORD – Jarden Corp. will close its facility at Industrial Way, laying off 212 employees as it relocates to Boca Raton, FL. The 345,000 square foot site is the former headquarters, warehouse and distribution center for The Holmes Group, which Jarden bought last year. The company designs and sells fans, heaters, humidifiers and other consumer products, manufactured in Asia, to retailers. Layoffs will start in January. In 1999, Milford awarded The Holmes Group a 12-year tax-increment financing agreement, which the board of selectmen is considering whether or not to decertify (see news story, page 6).

Bose leases space in Westboro

FRAMINGHAM and WESTBORO – Audio manufacturer Bose Corp. has subleased 180,000 square feet in Westboro at 9 Technology Drive. The company will use the space to consolidate and centralize its sales and service operations, now based in Stow, and will free up the Stow facility for expansion of its automotive systems division. It will also house, on a temporary basis, support staff for Bose’s corporate efficiency measures. Bose headquarters will remain in Framingham. The building at 9 Technology Drive is fully leased by EMC, which has no operations there at present.

CB Richard Ellis acquires Trammell Crow

BOSTON – CB Richard Ellis Group Inc. has agreed to acquire Trammell Crow Co. in a cash deal for $49.51 per share of Trammell Crow common stock, in a deal worth $2.2 billion. The deal is expected to close by early 2007. No details have been disclosed on the specifics about changes in operations and employment levels. Trammell Crow’s Development and Investment business will operate as a wholly-owned but independent subsidiary of CBRE.

CitySquare to move forward

WORCESTER – City Manager Michael O’ Brien and Berkeley Investments President Young Park signed the development agreement and related documents for CitySquare on Oct. 26. The $563-million CitySquare project in downtown Worcester is expected to change the 20.2 acres into a pedestrian-friendly, transit-oriented urban village featuring upscale condominiums, restaurants, retail shops, entertainment venues and medical and professional office space. CitySquare is expected to generate approximately 2,300 construction jobs and sustain up to 3,100 full time jobs once complete.

Marlborough 2010 hires director

MARLBORO – Marlborough 2010 Inc., the tax-exempt group dedicated to driving economic development opportunities, has hired attorney John Riordan as executive director. Riordan, a Sudbury resident, will leave the law firm Roach & Wise LLP in Boston to take the new job. Among his priorities will be to revitalize downtown and the Maple Street/Route 85 corridor; identify parcels that could be redeveloped for high tech, life sciences and financial service companies, and advocate ‘middle tier’ housing for young professionals. Former Marlboro Mayor Michael Hogan, who now works for A.D. Makepeace in Lakeville, is chair of the 2010 board.

Aubuchon plans restaurant for Plaza

FITCHBURG – Aubuchon Realty Co., the real estate arm of hardware-store company W.E. Aubuchon Co., will redevelop part of Parkhill Plaza into a family-oriented restaurant. Aubuchon purchased the building at 100 Franklin Rd. for $390,000 last month from Middlesex Savings Bank, which had acquired it as a result of foreclosure in May 2005. Aubuchon, which has a hardware store in the Plaza, wants to find a local independent operator to run a restaurant at the site, which has a history of such use. W.E. Aubuchon Co. operates more than 130 hardware stores in Massachusetts, Vermont, New Hampshire, Maine, Connecticut and upstate New York.

Westminster says "no" to big-box stores

WESTMINSTER – The Planning Board has voted not to support a proposed bylaw amendment to allow commercial or industrial development larger than 25,000 square feet to be built in town. The article must still be presented to voters at a Nov. 14 Special Town Meeting. The extra $80,000 to $100,000 in additional annual tax revenue a large retail company could generate would be offset by the extra demand on the police and fire department and would change the town’s ‘bedroom community’ ambiance, board members said.

Rockbestos property transferred to nonprofit

CLINTON – The former Rockbestos-Surprenant Cable Corp. plant, which has been vacant for more than two years, has been transferred to Ashland, OH-based nonprofit organization SeedAmerica. The property wasn’t technically sold. Its transfer to a non-profit organization will reap tax credits for Rockbestos. Terms of the deal call for SeedAmerica to lease the 450,000 square foot building on the 12-acre site at 172 Sterling Street, with an option to buy the property. The site has a history of manufacturing use but could also be used for retail. Terms were undisclosed.

Grafton board OKs overlay for Fisherville

GRAFTON- The Planning Board has voted unanimously to recommend voters pass the Fisherville Smart Growth Overlay District bylaw at the special town meeting this month. The former Fisherville Mill site qualifies to be considered for Smart Growth zoning. Fisherville Redevelopment LLC has been working with the town for the past several months to draft the bylaw that encourages mixed use. By adopting the bylaw, the town can receive an estimated $1 million in incentive payments from the state Smart Growth Housing Trust Fund. To date, $8 million has been invested in the remediation effort.

NE Disposal to build new HQ in Sutton

SUTTON – New England Disposal Technologies will be relocating and expanding its operations after purchasing a 5.5-acre industrial building lot in the South Sutton Commerce Park for $600,000. The company, started in 1995 and now based in Shrewsbury, recently broke ground in Sutton on a 20,000-square-foot building, which it hopes to complete by June of 2007. The new facility will be double the square footage now occupied by the company, which provides industrial and hazardous waste transportation, disposal, and remediation services. Robertson says NEDT also plans to add ten new employees to its 25-person staff over the next few years.

Biomedical

Cambrex sold to Swiss company

HOPKINTON – Cambrex Bio Science Hopkinton Inc. has been sold to Lonza Group AG of Switzerland for $460 million. The acquisition includes the company’s Hopkinton and Baltimore operations. Subject to approvals by Cambrex stockholders and regulators, it’s expected to close in first quarter 2007. Cambrex, which bought the facility in 2001 and invested millions to expand its biological drug production capacity, employs about 125 people there. The division’s sales constituted about 42 percent of Cambrex’ 2005 gross sales, but the segment has been unprofitable for the last two years. The building formerly housed the defunct Seragen Inc.

WPI nets $2 million in funding for biomedical research centers

WORCESTER – Worcester Polytechnic Institute will receive $2 million in federal funding for its Center for Untethered Healthcare and the Center for Neuroprosthetics and BioMEMS. The grants were awarded through a U.S. Senate Defense Applications Bill. The Center for Untethered Healthcare is developing an integrated system of medical sensors, portable ultrasound scanners, and wireless technology to provide more effective medical care for soldiers injured in the battlefield. The recently-founded Center for Neuroprosthetics and BioMEMS is currently developing technology to control prosthetic limbs and organs by brain signals. The allocations were part of a U.S. Senate Defense Appropriations Bill that included $12.3 million for improving national security for the 3rd Congressional District.

Cytyc issues deadline on cash offer

MARLBORO – Cytyc Corp. will hold open its cash per share offer for Vision Systems Limited for acceptance by Vision Systems shareholders until November 17. Cytyc has made an unconditional $3.25 cash per share offer to acquire Vision Systems, an Australian company specializing in automated instruments and reagents for biopsy-based detection of cancer and infectious diseases in pathology laboratories. The offer, made on October 2, will remain open unless withdrawn or extended further in accordance with the Australian Corporations Act. Vision Systems shareholders accepting the unconditional offer will receive cash for their securities within five days of accepting Cytyc’s offer.

Biovest International debuts cell culture instrument

WORCESTER – Biovest International Inc. has launched the AutovaxID automated cell culture device for commercial sale. AutovaxID is a reusable instrument that contains a fully-disposable, closed-system cell growth chamber with a hollow-fiber cell-growth cartridge, replacing conventional stainless steel, glass and plastic cell-growth chambers. The new design requires almost no supervision, is less expensive to operate than its predecessor, and is about one-tenth the size of the old design. AutovaxID is also useful for growing antibody-secreting cell lines, such as hybridomas and Chinese hamster ovary cells that support commercial therapeutic protein manufacturing.

Symbollon sees molecular iodine as breast cancer treatment

FRAMINGHAM – Symbollon Pharmaceuticals Inc. has provided independent scientific publications that show molecular iodine to be a possible treatment for breast cancer, the active agent in Symbollon’s drug IoGen. This research recommends molecular iodine as an adjuvant therapy for breast cancer, and encourages launching human clinical trials testing. In one animal trial, rats treated with molecular iodine and showed a 30 percent rate of mammary cancer, while the iodine group had a 72.7 percent rate of mammary cancer.

Genzyme to challenge Medicare decision

CAMBRIDGE – Genzyme Corp. is

challenging a decision by the Centers for Medicare and Medicaid Services to create a single reimbursement code for osteoarthritis treatments that would drop the reimbuirsement rate for its Synvisc treatment below the drug’s market value. Synvisc is one of a family of so-called viscosupplementation products. The thick liquid is injected into arthritic knees, and acts as a temporary joint cushioning, easing pain. The treatment has had its own reimbursement code since 1999. The lowered reimbursement rate goes into effect after January. The company vows to take "legal action" if the CMMS declines to drop the single-rate plan.

Finance

Charles Street Capital debuts in Southboro

SOUTHBORO – Charles Street Capital, a real estate investment firm, has formed to target the commercial market and the acquisition of loans from existing real estate lenders. Jerry Quill, founder of Charles Street Capital, was formerly a managing director with GE Real Estate, handing loan acquisitions, joint ventures, and M&A transactions. The newly-created firm will target investments in both the U.S. and Canada. In pursuing loan acquisitions, the company plans to seek secondary market lenders, including banks, insurance companies and government agencies. Though it is examining various investment opportunities, Charles Street Capital expects the loan sale market to grow as a result of expansion in commercial real estate credit by regulated and non-regulated lenders.

Babcock Power acquires $95m credit agreement

DANVERS – Babcock Power Inc., which has operations in Worcester, has an agreement for a new $95 million, five-year senior secured revolving credit facility. The new facility will replace an existing credit facility and increase BPI’s borrowing capacity by $45 million. This new credit facility will allow the company to capitalize and expand on its broad range of products and services for fossil, nuclear, cogeneration, combined cycle and waste-to-energy plants.

High tech

EMC makes 12th acquisition

HOPKINTON – EMC Corp. will aquire Avamar, a privately-held, CA-based provider of data backup software, for $165 million in cash. Avamar specializes in disk-based backup and recovery, moving away from standard tape-based systems The acquisition is EMC’s twelfth in 2006, adding to the $2.8 billion already invested in acquisitions this year. The transaction is expected to close in 30 days, and is not anticipated to impact EMC’s 2006 revenue or EPS. Avamar will be integrated into EMC’s Storage Product Operations group, and Avamar CEO Ed Walsh will report to Mark Sorenson, EMC’s senior vice president of Information Management Software.

KAI-id LLC launches new office in Oxford

OXFORD – KAI-id LLC, an industrial design and engineering firm headquartered in Portland, ME, has opened a new office in Oxford. The firm helps companies and individual inventors bring new products to market. The Massachusetts facility aims to create a link between KAI-id and its Bay State customers, while also having access to the Route 95 and 128 corridors. The Oxford office will focus its design strategy on medical and dental products, and help to accommodate the firm’s growing staff.

Advanced Lumitech changes name to Brightec

NATICK – Advanced Lumitech Inc., creators of the world’s first photographic quality glow-in-the-dark paper, has changed its company name to Brightec, Inc. The company says the name change will unify brand identity with corporate identity, allowing Brightec to spotlight their core products while creating name recognition for the company.

Infotech

Autocell, Microsoft enter licensing pact

ACTON – Autocell Laboratories Inc. has entered into a licensing agreement with Microsoft Corp. for the company’s multi-patent portfolio. The patents were related to load balancing, automatic channel selection, transmit power control, fast roaming, automatic secure wireless key distribution and generation, and various software architecture patents. Autocell, a developer of automatic radio frequency management software for wireless networks and applications, also agreed to grant Microsoft non-exclusive rights to its access point and station source code bases software. By allowing Microsoft to incorporate its software, Autocell hopes to increase adoption of its products, said Floyd Backes, CEO and co-founder of Autocell Laboratories.

Nat’l League of Poker acquired

FRAMINGHAM – The National League of Poker, a privately-held company, has entered a Share Exchange & Acquisition Agreement with Power Play Development Corp. NLOP, a software, marketing and online games company will continue to operate as a wholly-owned subsidiary, and its management team will assume control of the public company. NLOP offers "advergaming" services, the practice of using online games to sell advertisements. It seeks greater exposure by becoming a publicly-traded company. NLOP operates two brands: www.nlop.com, and www.pokercreations.com, its software marketing division. Poker Creations has been enlisted by Miller Beer and Milwaukee’s Best Light to manage the logistics of its national online poker campaign.

Egenera opens India office

MARLBORO – Egenera Inc. has opened a new office in Bangalore, India, to expand its global presence. The office is the latest in a series of new Egenera offices in strategically-placed international locations. Plans call for the new office to augment operations in the Asia Pacific region, where Egenera has offices in Wanchai, Hong Kong, and Shanghai, China. The company will look to grow relationships with customers and partners, while expanding Egenera’s global footprint. Egenera is a software developer specializing in simplifying datacenter operations and infrastructure.

Industrial website publishes directory

WESTBORO – IndustrialLeaders.com, a web-based industrial supply directory, has published an electronics equipment buying guide and supplier directory targeted at manufacturers of electronic products, engineers, importers and other buyers of electronics. The directory is intended to help buyers of the equipment cross-reference manufacturers and distributors from the U.S., U.K., Canada, Australia, India, China, Japan, Italy, Germany, and other EU countries. Users can download product catalogs and send request-for-quotes directly to manufacturers and distributors. Products featured in the guide include wireless electronics, test equipment and semiconductors. Plans call for the site to be published in other languages besides English before year end.

MySelfHelp bought by HealthMedia

NORTHBORO – MySelfHelp.com, a provider of online mental health self-help programs, has been acquired by HealthMedia Inc. in Ann Arbor, MI. MySelfHelp president and CEO Richard Bedrosian, who co-founded the company in 1995, will become director of behavioral health science and report to HealthMedia President and CEO Ted Dacko. Specific financial terms were not disclosed.

Health care

CVS acquires Caremark

WOONSOCKET, RI – CVS Corp. has purchased pharmacy benefits manager Caremark Rx Inc. for about $21.2 billion in stock, to create a combined drug distribution company worth $75 billion. Terms call for Caremark shareholders to receive 1.67 shares of CVS for each share of Caremark. CVS shareholders will own 54.5 percent of the combined company and Caremark shareholders will own 45.5 percent. The new company will be called CVS/Caremark Corp. and will be headquartered in Woonsocket, while the pharmacy services business will remain in Nashville.

Media

TG, Globe circulation drops

NEW YORK – The Telegram & Gazette reported a 10.9 percent drop in daily circulation and 10.1 percent decline on Sundays for the six-month period ended in September, while the The Boston Globe saw circulation drops of 6.7 percent for the daily paper and 9.9 percent on Sundays over that same time. About 50 percent of the daily T&G’s circulation loss and 36 percent of the Sunday decline came after elimination of home-delivery sponsored copies and the recent conversion of the Telegram.com website from paid access to free. In this climate, a group of local investors, among them retired General Electric Co. CEO Jack Welch and advertising executive Jack Connors, have confirmed they’re examining an acquisition of the Globe.

OSV names new management for gift shop, food services

STURBRIDGE – Old Sturbridge Village will enlist the services of Event Network Inc. and JGL Management Services Co. to manage the Village’s gift shop and solicit bids from companies interested in taking control of food services at the site. Event Network, based in San Diego, will work with the Village to enhance merchandise options and store design. JGL Management Services Co. of Princeton, NJ will help to identify a suitable vendor to take over food operations at OSV, which includes Bullard Tavern and the Oliver Wright Tavern, scheduled to reopen in early 2007.

Moulding & Millwork comes to Mass.

VANCOUVER – Moulding & Millwork, one of the largest suppliers of wood mouldings in North America, is expanding its market into New England with its recent lease of 45,718 square feet of warehouse and office space in Northboro’s I-290 Industrial Park. The new space will serve as a distribution center for the company’s clients in the Northeast. Moulding & Millwork has nine manufacturing facilities and 31 sales and warehouse facilities in the U.S. and Canada. Previously, the closest facility the company has operated to New England was in Rochester, N.Y. The company wholesales its products to major lumberyards primarily in North America, but also distributes in Asia and Europe.

Utilities

C Pipelines acquires majority of pipeline system

WESTBORO – TC Pipelines, LP has purchased a 50 percent interest in the Tuscarora Gas Transmission Company for $100 million from Sierra Pacific Resources, an electric utility company. When the transaction is complete, TC Pipelines, LP will own or control 99 percent of Tuscarora. The remaining one percent belongs to TransCanada Corporation, parent company and sole general partner of TC Pipelines, LP. TransCanada will operate Tuscarora. The transaction is expected to close by yearend.

NORESCO wins $46.6m in contracts

WESTBORO - Energy services firm NORESCO has been awarded two contracts worth $46.4 million from the Baltimore City Public School System. BCPSS chose NORESCO to implement energy and facility upgrades totaling $26.8 million. Under a second contract it will provide on-site operational maintenance at school system buildings for 15 years, upgrading 19 school and administrative facilities. The average school building is 46 years old, and the system has deferred maintenance costs of more than $1 billion.

Some of the material in the News Briefs and Small Business sections was originally reported byBanker & Tradesman, The Boston Business Journal, The Boston Globe, Boston Herald, The Clinton Courier and Lancaster Times, The Griffin Report of Food Marketing, IndUS Business Journal, Mass High Tech, The MetroWest Daily News, New England Real Estate Journal, Sentinel & Enterprise, Southbridge Evening News, Telegram & Gazette, and/or Worcester Magazine. If you have a news tip, please call 508-755-8004 ext. 256, fax it to 508-755-4734, or e-mail it to coneill@wbjournal.com.

Correction

The profile of Z Resource Group in the Oct.30 issue contained a reporting error. Z Resource Group had revenues of $750,000 in 2003, not 1999, as reported. The sequence of revenues in the chart is correct.revenues in the chart is correct.