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Sunday, 03 February 2013 22:27

MiBiz Growth Report: Feb. 4, 2013

Written by  MiBiz Staff
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 Here is the MiBiz Growth report for Feb. 4, 2013.

• M&A: Grand Rapids-based Leitz Tooling Systems LP, a subsidiary of Leitz Group of Germany that manufactures precision cutting tools for wood and other materials, acquired the asserts of San Bernardino, Calif.-based Royce//Pacific Precision. In a statement to MiBiz, the company said the acquisition will bring additional volume to its Grand Rapids manufacturing facility while strengthening its Western region capabilities. Warner, Norcross & Judd LLP advised on the deal. Terms of the agreement were not disclosed.

• M&A: Neogen Corp. (Nasdaq: NEOG) of Lansing acquired the assets of Davis, Calif.-based Scidera Genomics LLC, an animal genomics business, according to a statement. Terms of the acquisition were not disclosed. Neogen plans to continue to operate from Scidera’s California facility.

M&A: One of Grand Rapids-based Blackford Capital’s holdings, composite components manufacturer Amtech LLC of Wapato, Wash., acquired Arrowhead Composites and Thermoplastics in Elmore, Ala. Blackford helped facilitate the acquisition. Amtech is seeking other growth opportunities in the Midwest, the company said in a statement.

M&A: Traverse City-based Quantum Sail Design Group has entered into an agreement with Dimension Polyant to purchase the company’s sailmaking facility located in Sri Lanka, according to a statement. The acquisition helps Quantum strategically expand globally, President Ed Reynolds said in a statement. Quantum also has existing sail-making facilities in Malaysia, South Africa and Traverse City.

Expansion: As part of the $1 billion North American investment announced at the North American International Auto Show in January, Denso Manufacturing Michigan Inc. will add 266 new positions and invest $105 million in its Battle Creek manufacturing plant by 2015. Those new jobs include 220 manufacturing jobs and 46 skilled trade and professional jobs at its 1.29 million-square-foot facility. This investment will add new manufacturing capabilities to the Fort Custer Industrial Park location, including new lines of condenser and radiator products.

Expansion: Grand Rapids-based Fox Motors selected a 7.5-acre parcel in Chicago between the Bucktown and Lincoln Park areas as the permanent home for its Ford-Lincoln dealership, according to a report in Crain’s Chicago Business. Fox plans a 64,000-square-foot project at the site, which would include a three-story showroom and a one-story service center, the report stated. The site would have parking for about 1,000 vehicles. In January, Fox leased a vacant former dealership on Michigan Avenue to serve as temporary space while the company shopped around for a permanent site for the dealership, Crain’s reported. That temporary facility is scheduled to open this month.
The permanent dealership site should open by 2015.

Expansion: Allegan-based pharmaceutical manufacturer Perrigo Co. plans a $42 million expansion of infrastructure and equipment at its Allegan location, as well as a $200 million investment in a new facility and new equipment in Holland Charter Township, where it also has a presence after the 2008 acquisition of J.B. Laboratories. The move could create 650 jobs to support growth in Perrigo’s tablet products for its over-the-counter business, according to a statement from Gov. Rick Snyder’s office.

Expansion: The dairy cooperative Fair Oaks Farms Brands Inc. plans to invest $127 million to manufacture nutritionally enhanced liquid milk products at a newly constructed facility in Coopersville, according to a statement from Gov. Rick Snyder’s office. Fair Oaks was awarded a $900,000 Michigan Business Development Program performance-based grant.

Expansion: Benton Harbor-based appliance manufacturer Whirlpool Corp. plans to invest $18.9 million to relocate refrigeration research and development operations from Evansville, Ind., to a former manufacturing facility. The company, which is projected to create 180 jobs, received a $2.4 million Michigan Business Development Program performance-based grant, according to a statement.

Read 1819 times Last modified on Saturday, 23 February 2013 10:24
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