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Stryker Corp. grew sales across all of its business units in the second quarter and more than doubled earnings.

Macatawa earnings up as loan demand builds

Written by | Thursday, 23 July 2015 17:15 |

Macatawa Bank Corp. grew earnings during the second quarter amid strong loan demand.

The marketing initiative, dubbed ‘Project Greenlight,” identified seven sites in Kent and Muskegon counties with multimodal transportation access that are prime for new projects or redevelopment.

In its latest acquisition to grow in Europe, Allegan-headquartered Perrigo Co. plc plans to buy a German maker of dietary supplements.

Coming off two acquisitions in West Michigan that closed in the second quarter, Chemical Financial Corp. reported higher earnings.

Rockford-based footwear and apparel marketer Wolverine World Wide Inc. will discontinue its smallest brand and plans to close more underperforming stores than previously announced as part of an ongoing strategic realignment plan, the company said Tuesday.

Lansing-based Neogen Corp. (NASDAQ: NEOG), a manufacturer of testing kits for food safety, animal safety and other industries, posted revenues of $78,6 million in its fourth quarter, a 17 percent increase over the previous year, according to an earnings statement released today. Neogen’s revenues for its 2015 fiscal year also increased 14 percent to $283 million, from 247.4 million the year prior.

Mercantile Bank Corp. today reported substantially higher quarterly earnings, now a year after its merger with the former Firstbank Corp. and the related costs.

New York City-based real estate investment trust (REIT) Ladder Capital Securities LLC along with another New York investor, Richard Bennett, the principal at New York City-based real estate investment firm Sagic Capital LLC, purchased the building, said Don Shoemaker, principal at Franklin Partners, in an interview with MiBiz.

A Kalamazoo-based company that provides high-speed telecommunications services to businesses across the state was among a trio of West Michigan companies to receive venture capital investments in the second quarter.

The Kalamazoo-based Stryker says the cash deal for Muka Metal A.S. in Kayseri, Turkey should close in the third quarter. The two companies have had a distribution agreement in Latin America since 2012 and the acquisition will expand Stryker’s global presence expand “in key markets with a product portfolio that complements and enhances Stryker’s current offerings,” the company said in a statement announcing the deal.

West Michigan’s growing economy is leading to a very “healthy” commercial real estate market. That’s according to Duke Suwyn, chairman and CEO of the Grand Rapids office of Colliers International West Michigan, whose firm just released reports on the second quarter performance for the commercial real estate market in the region.

The $100.4 million deal that was announced at the end of last month highlights the strong job market and overall demand for multi-family housing in the metropolitan Grand Rapids area, CFI executives told multiple real estate industry trade publications today. The deal was brokered by the Detroit office of Berkadia Commercial Mortgage LLC.

Rich Sorota will begin his new role as CEO of the manufacturer of oral and personal health care product in mid-August, according to a statement. Sorota has served in various leadership roles for companies including Phillips, Scotts Miracle-Gro, Procter & Gamble and Bissell.

Davenport University will close campuses and forge new partnerships with community colleges around the state as part of new

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