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Horizon Bancorp will expand its presence in Michigan with the planned acquisition of Summit Community Bank in East Lansing. The Michigan City, Ind.-based Horizon expects the $18.4 million stock-and-cash transaction to close in the second quarter of 2014.

Ventra Grand Rapids 5 LLC plans to invest $16.3 million over three years and create up to 150 new jobs in Kentwood to launch a new automotive lighting line, according to a press release.

Benton Harbor-based household appliance maker Whirlpool Corporation has reached an agreement with David Weekley Homes. The Houston-based homebuilder will make Whirlpool’s appliances available in their homes around the southeast, southwest and midwest.

The building that once housed a well-loved Grand Rapids Mexican eatery could soon have new owners.

Grand Rapids-based Agility Health recently completed the acquisition of Work-Fit LLC, a provider of physical rehabilitation and software services, for $7.3 million. Work-Fit, also based in Grand Rapids, has annual revenues of about $6.3 million and employs 75 people.

Minneapolis-based General Mills is locating a new distribution center in the Midlink Business Park in Kalamazoo. A new 155,000-square-foot facility, which General Mills will lease, is set to break ground this week and expected open by July of 2014.

Shareholders at Mercantile Bank Corp. and Firstbank Corp. are set to vote Dec. 12 on a proposed merger that would create the third-largest bank based in Michigan.

Huntington Bank today committed $25 million to supporting microlending in Michigan. Launched in partnership with the Michigan Economic Development Corp., the Pure Michigan Micro Lending Initiative starts in Detroit and will extend to other areas of the state through additional partnerships.

Kellogg Co. said it would cut its global workforce by about 7 percent by the end of 2017 as part of a four-year restructuring program it announced today.

Consumers Energy broke ground earlier today on its new Cross Winds Energy Park in Tuscola County. The $255 million, 105-megawatt park is expected to meet the 10 percent renewable generation mandate required for utilities in the state.

GVSU purchases 11 acres in GR for nearly $19M

Written by | Thursday, 31 October 2013 18:33 |

Grand Valley State University board of trustees approved the purchase of 11 acres of property adjacent to its Cook DeVos Center for Health Sciences Building at 301 Michigan Street in Grand Rapids for $18.9 million.

Allegan-based Perrigo Co. reported $933.4 million in revenue, a 21 percent increase from the same period a year ago, and net income of $111.4 million, or $1.18 per diluted share, for the quarter that ended Sept. 28, according to a press release.

Advanced Furniture Testing (AFT), a Holland-based office furniture testing facility, has announced that it is opening a new 9,600-square-foot testing facility in Jasper, Ind. The company, which also expanded in 2012, has outgrown its testing capacity at its Holland facility

The two largest health information exchanges in Michigan are now connected. Grand Rapids-based Michigan Health Connect and Great Lakes Health Exchange in East Lansing struck an agreement that allows members to exchange patient medical data electronically via secure networks.

Macatawa Bank Corp. recorded lower net income for the third quarter with continued improvements in asset quality. The Holland-based Macatawa Bank attributed the year-to-year decline in quarterly net income in part to a one-time $2.8 million loan prepayment fee received during the third quarter of 2012.

The Stow Company, a Holland manufacturer of storage and organization systems for all areas of the home, has announced that it will be consolidating all of its manufacturing at its recently-expanded Holland facility.

The Comerica Bank Michigan Economic Activity Index took a dip in the month of August, a recent study shows. The index was down 1.3 percent, bringing it to a level of 125.4. Despite the decrease, the index was still more than 10 points higher than its average in all of 2012.

Fennville-based Virtue Cider has released a new farmhouse-style cider dubbed Percheron Cidre Fermier, a blend of 2012 Northern Spy apples fermented with wild yeast and oak-barrel aged that’s mixed with juice from this year’s harvest, according to a press release.

St. Joseph-based Honor Credit Union plans to merge with SIR Credit Union in the Upper Peninsula. The merger, which requires regulatory and member approval, would create a combined credit union that has nearly $550 million in assets and more than 50,000 members.

Long awaited news from the former General Motors stamping plant, now Site 36 in Wyoming, hit today as Portage-based Kendall Electric announced the purchase of a portion of the 90-acre site to make way for a new 100,000-square-foot facility.

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