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Amway sales up 4.4 percent to $11.8B for 2013

Written by | Tuesday, 04 February 2014 07:00 |

Ada-based direct selling giant Amway Corp. today announced record annual sales of $11.8 billion for 2013, a 4.4-percent increase from $11.3 billion in 2012.

Two Varnum attorneys join Honigman in Kalamazoo

Written by | Monday, 03 February 2014 16:15 |

Honigman Miller Schwartz and Cohn LLP in Kalamazoo has added two partners to its roster from competing firm Varnum LLP.

A minority shareholder of Grand Rapids-based Stiles Machinery Inc. has acquired the remaining voting shares in the company effective today, according to a statement. HOMAG Group AG of Germany purchased the remaining voting shares in Stiles from former owner Peter Kleinschmidt, who is retiring after 39 years.

TG Manufacturing acquires Craft Steel

Written by | Monday, 03 February 2014 14:36 |

Grand Rapids-based TG Manufacturing LLC has acquired metal stamping and fabricating company Craft Steel of Spring Lake, according to a statement from Rua Associates LLC, a mergers and acquisitions firm.

ArtPrize generated a $22.2 million economic impact on Grand Rapids in 2013, according to an assessment by the Anderson Economic Group in East Lansing.

Macatawa Bank Corp. (NASDAQ: MCBC) further improved operations during 2013, although net income was down sharply from the prior year due to major on-time gains in 2012. Lody Zwarensteyn moved up his departure as president of the Alliance for Health in Grand Rapids to March 1.

Harbor Springs-based Decka Digital LLC has purchased the assets of Digital Printing Inc. of Petoskey, according to a joint statement from both firms.

Zeeland-based Gentex Corp., a Tier I supplier of auto-dimming mirrors and automotive electronics, ended the 2013 fiscal year with the first debt on its books — $265.6 million — that it’s seen in more than 15 years as the company financed a portion of its acquisition of the HomeLink business from Johnson Controls Inc.

Randy Thelen is departing Lakeshore Advantage after 10 years at the organization for what he calls a “terrific professional opportunity” leading economic development in Omaha, Neb.

Chemical Financial Corp. (NYSE: CHFC) today reported record annual earnings of $56.8 million for 2013, or $2.00 per diluted share, versus $51.0 million, or $1.85 per diluted share, in 2012.

Walker-based retail giant Meijer Inc. plans to build a 200,000-square-foot superstore in Alpena, according to a report in The Alpena News. Rockford Construction Co. Inc. hopes to break ground on the project by May 1 and complete construction by April 2015, the report stated.

Stryker Corp. grew sales to $9.02 billion in 2013, a 4.2-percent increase from 2012. Fourth quarter sales for the Kalamazoo-based Stryker increased 5.6 percent to $2.46 billion, the company reported yesterday afternoon.

Mercantile Bank Corp. ended 2013 with higher earnings. The Grand Rapids-based Mercantile Bank (NYSE: MBWM) this morning reported quarterly net income of $5.1 million, or 59 cents per share, which compares to $3.0 million, or 35 cents per share, in the fourth quarter of 2012.

Michigan’s two largest regional health exchanges plan to merge. The Grand Rapids-based Michigan Health Connect and Great Lakes Health Information Exchange in East Lansing signed a letter of intent last week to merge operations and begin a due-diligence period that’s expected to wrap up by the end of March.

Edgewater Bancorp Inc. completed a $6.7 million stock offering that a converted the St. Joseph-based bank from a mutual savings and loan to a stock corporation.

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