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FAST LANE - August
2002
 MOUNT
STERLING
Chef America Now Part of Nestle in $2.6 Billion Deal
With a goal of boosting
its frozen food sales, Nestle has purchased Chef America for $2.6 billion
in cash.
Chef America produces
the popular “Hot Pockets” microwavable sandwiches at its plant
in Mount Sterling, where the Denver-based company employs 700 workers.
The privately-held company is the leading U.S. manufacturer and marketer
of frozen hand-held food products, boasting a 50 percent market share
in the fast-growing category.
According to company
figures, Chef America saw a compound annual sale growth rate of more
than 10 percent between 1996 and 2001 and is on track to grow in excess
of 15 percent in 2002.
Nestle’s chief
executive, Peter Brabeck, said, “Chef America is an ideal and strategically
important complement to our own frozen food activities in the USA, which
include Stouffer’s and Lean Cuisine.”
 BOWLING
GREEN
Western Breaks Ground on $20M Science Complex
Using a remote-controlled
robotic shovel, Gov. Paul Patton helped Western Kentucky University
break ground for a new $20 million science building that is designed
to be part of the foundation for the state’s high-tech future.
The ShovelBot, designed
by WKU faculty member Ron Rizzo and electrical engineering students
Jeff Fulkerson and Jessica Lassourreille, is an example of the innovative
projects that will be completed in the Complex for Engineering and Biological
Sciences.
The 76,000-square-foot
building will house state-of-the-art laboratories for Western’s
emerging joint civil, mechanical and electrical engineering programs
as well as the biology department’s biotechnology center, biodiversity
center and water quality lab.
Engineering facilities
will include an electronic classroom, student project design rooms,
engineering prototype facility, and laboratories and will support activities
such as materials science, electronics, robotics, construction materials
and dynamic systems.
Biology facilities
will include research laboratories for ecology and conservation, microbiology,
molecular and cell biology, aquatic biology, physiology, genetics, biotechnology
and water resource studies.
LOUISVILLE
U of L Names Ramsey as Interim President
The University of
Louisville Board of Trustees has unanimously approved the appointment
of state budget director and U of L faculty member James Ramsey as acting
president of the university.
 Ramsey
assumes the position from Carol Garrison, who has accepted the presidency
of the University of Alabama at Birmingham. Garrison was appointed as
acting president upon the resignation of former University President
John Shumaker, who accepted the position as president of the University
of Tennessee.
Ramsey, a senior
professor of economics and public policy at U of L, is also the state’s
budget director and a senior adviser to Gov. Paul Patton. His background
includes a number of higher education and government positions, including
stints as vice chancellor for finance and administration at the University
of North Carolina at Chapel Hill, professor in the Department of Economics
at Western Kentucky University and acting president of the Kentucky
Community and Technical College System.
Ramsey has stated
that he accepted the interim presidency to help provide stability and
continuity during a transitional time and has no intention of pursuing
the position on a permanent basis.
STATE
Women's Conference Slated for October 8-9 in Lexington,
Louisville
 Best-selling
author Mary Higgins Clark will be the featured speaker at the 2002 In
the Interest of Women conference, sponsored by Toyota Motor Manufacturing,
Kentucky, Inc.
This year’s
conference will be held on Tuesday, Oct. 8 at Heritage Hall in Lexington
and on Wednesday, Oct. 9 at the Galt House East in Louisville.
Also featured this
year is Gracie Rosenberger, a popular motivational speaker who has overcome
tremendous physical and emotional adversity to become a true success
story.
The conference will
also feature women from across the country speaking on topics from organizing
your life to dealing with difficult people. There will be a full day
of workshops and speakers in each location. The cost is $60 per person
and includes a continental breakfast and lunch. More information about
the conference, including registration information, is available by
calling (859) 252-3350, ext. 3813 or by visiting www.toyotageorgetown.com/women.
STATE
US News Ranks Four Kentucky Hospitals Among
Nation's Best
 Four
Kentucky hospitals have received national recognition for their expertise
in the areas of respiratory care, orthopedics, rheumatology, and heart
surgery.
U.S. News &
World Report annually publishes a listing of the nation’s best
hospitals, based on factors such as reputation, mortality, ratio of
registered nurses to patients and number of discharges, among other
measures.
This year’s
list included:
- St. Joseph Hospital
in Lexington was ranked No. 39 in the heart and heart surgery category.
- Norton Southwest
Hospital in Louisville was listed at No. 43 in the respiratory care
category.
- University of
Louisville Hospital was recognized in the field of orthopedics, coming
in at No. 45.
- Cardinal Hill
Hospital in Lexington was ranked No. 48 in the area of rheumatology.
Details of the report
can be viewed online at www.usnews.com.
LOUISVILLE
Lack of Space Puts Louisville's Convention Business
in Jeopardy
 The
Recreation Vehicle Industry Association has held its annual trade show
in Louisville for nearly 40 years, but a lack of space at the Kentucky
Fair& Exposition Center has prompted association officials to look
for alternative venues.
The Fair & Exposition
Center board has proposed a $102 million renovation that would add both
exhibit and conference space, but with state’s budgetary woes,
such funding has not been addressed.
Loss of the RV convention
would come at a high price. The show is ranked as one of Louisville’s
top 10 meetings and conventions and adds some $16 million to the local
economy. RVIA officials say they don’t want to leave, but lack
of space cost the show $342,000 in sales last year, plus dissatisfaction
from some exhibitors.
This is the second
time within six months that the community has been faced with losing
a top convention. In April, the National FFA announced plans to move
its convention to Indianapolis, citing an inadequate number of hotel
rooms and difficulties with the technical capabilities at Freedom Hall.
STATE
Maps Show Kentucky's Progress on the Information Superhighway
The state’s
Office for the New Economy has released preliminary maps depicting the
current status of Kentucky’s information superhighway.
Kentucky’s
primary backbone traverses the state from Cincinnati to Louisville,
through Bowling Green to Nashville and finally Atlanta. The 90-mile
region surrounding Northern Kentucky and including Lexington and Louisville
is on par with other major areas of the country, including the 90-mile
radius around Milwaukee, Wisconsin; Columbus, Ohio; and Lansing/Ann
Arbor/Jackson, Michigan.
However, high-speed
Internet access in the state’s rural areas is a different story.
Only 30 percent of the population in Eastern Kentucky has the option
to purchase cable-modem service; only 16 percent have access to DSL
service. And in six counties in the eastern region, neither service
is available.
“In order to
attract the jobs and economic development of the future and build a
quality of life for all Kentuckians, we must ensure that affordable
high-speed Internet highways are available throughout the Commonwealth,”
said Governor Paul Patton.
The maps are open
for public comment and can be viewed on the connectkentucky Web site
at www.connectkentucky.org.
Established by Patton
earlier this year, the connectkentucky Steering Committee has the job
of planning and building the information superhighway of the future
in Kentucky.
ERLANGER
Toyota Celebrates Manufacturing Milestone with 10
Millionth Vehicle
FRANKLIN
Outokumpu Copper Retruns Occupational Tax to Employees
 In
a year when many companies have been making news by way of greed and
unethical practices, Outokumpu Copper is taking money from a tax incentive
and handing it over to its employees.
The Finland-based
company recently agreed to be annexed by the city of Franklin, Kentucky
in order to hook on to the city’s sewer system. The hook-up is
a critical component of a planned expansion of the plant, which produces
copper tubing for refrigeration and cooling products. The planned $6
million expansion project involves adding 65,000 square feet for a new
manufacturing line (yet to be announced) and a research and development
line.
The down side of
the deal? By being annexed into Franklin, Outokumpu employees would
face an occupational tax.
Not wanting to penalize
their work team, Outokumpu is taking the money from a tax abatement
incentive offered by Franklin - which many companies use for capital
improvements or working capital – and dispersing it among its 300
employees.
Outokumpu President
Geoff Palmer said the company’s decision was based on “employee
loyalty.”
LEXINGTON
Acquisition by Sun Capital Moves Clark Material Out
of Bankruptcy
Clark Material Handling
Co. is being acquired by Sun Capital Partners, Inc., a Florida-based
private equity firm that plans to finance Clark’s reorganization
plan and recapitalize the its foreign operations.
Prior to filing
for bankruptcy protection in 2000, the forklift manufacturer was one
of Lexington’s largest businesses. The company also has operations
in Brazil, Germany and Korea, but Clark North America is the only division
of the company operating under bankruptcy protection.
Officials with Sun
Capital say they expect the company to pull out of bankruptcy by the
end of the year.
COVINGTON
O'Brien Succeeds Chellgren as President and COO of
Ashland
 James
J. O’Brien has been named as the new president and chief operating
officer of Ashland, Inc.
O’Brien was
unanimously selected by the company’s board of directors to replace
Ashland Chairman and CEO Paul Chellgren. Chellgren agreed to step down
from his position after disclosing that he and another Ashland employee
had been personally involved, a matter that breaches company policy.
Upon Chellgren’s official retirement on November 15, O’Brien
will assume the position of chairman and chief executive officer.
“Our committee,
the task force and the board are very confident that Jim has the experience,
judgment and leadership ability necessary to capitalize on Ashland’s
opportunities and overcome its challenges,” said Mannie Jackson,
chairman of the Personnel & Compensation Committee of Ashland’s
board of directors. “In addition, his years as executive assistant
to retired Ashland chairman John R. Hall were an excellent training
ground for this position.”
Jackson, who also
headed the board-management task force appointed to select new leadership
for the 78-year-old company, said the selection committee was pleased
to be able to name a successor from within Ashland’s ranks.
“One of Ashland’s
key advantages has long been the depth of the management team,”
Jackson said. “Having such outstanding internal candidates meant
we were able to move quickly and, equally important, provide for continuity
in regard to key strategic and operating initiatives.”
Ashland is in the
midst of business process redesign efforts to improve profitability
and returns from APAC and Ashland Distribution. Ashland Specialty Chemical
is developing new strategic initiatives to foster growth, while Valvoline
is continuing to push innovation and new product development.
LOUISVILLE
Churchill Downs President's New Focus is on Government
Affairs
With the political
stakes becoming ever higher for the racing industry, Churchill Downs
Inc. (CDI) has created a new position designed to oversee the company’s
public affairs and legislative initiatives.
 Alex
Waldrop, president of Churchill Downs racetrack, has been promoted to
the newly created position of senior vice president of public affairs.
In his new role, Waldrop will be responsible for coordinating the company’s
public affairs activities at the national level as well as directing
legislative strategies in the five states in which Churchill Downs operates.
In addition to operating
Churchill Downs racetrack in Louisville, its flagship track, CDI also
owns tracks in California, Florida, Illinois and Indiana.
Waldrop, a native
of Mayfield, Kentucky, comes to the position well-versed in lobbying
and the legislative process. Prior to joining CDI in 1992 as its general
counsel, Waldrop practiced law for seven years with the firm of Wyatt
Tarrant and Combs. He was named president of Churchill Downs racetrack
in 1999.
Tom Meeker, CEO
of Churchill Downs Inc., noted that with the number of political issues
facing the racing industry, it simply became necessary to have one person
to direct government affairs for the company.
‘’Right
now, the political stakes are high at both the state and federal level
for this industry,’’ Waldrop said to the Louisville Courier-Journal.
‘’Some of the greatest challenges we face deal with public
policy issues, and in many respects the horse industry can’t grow
without enabling legislation.’’
LOUISVILLE
YUM! Hopes to Spice Up Pizza Hut Sales with Addition
of Pasta Bravo
 YUM!
Brands is test-marketing a new group of multi-branded stores that will
combine its Pizza Hut brand with California-based Pasta Bravo.
Pasta Bravo is a
“quick casual” restaurant chain specializing in Italian food
ranging from traditional items like lasagna and chicken parmigiana to
more contemporary offerings such as chicken basil cream and Thai chicken
linguine. The company has 15 locations in southern California.
The combined Pizza
Hut/Pasta Bravo stores are first being tested on the West Coast. YUM!
is expecting the addition of Pasta Bravo to boost dine-in sales at its
Pizza Hut restaurants.
Multi-branding has
proven to be a highly successful venture for YUM!: Company officials
note that its multi-branded stores have seen an annual increase in volume
of up to 30 percent.
YUM! Is also planning
to pair up Pizza Hut with its A & W All-American Food restaurants,
which it recently acquired from Yorkshire Global Restaurants.
LOUISVILLE
Louisville Airport to Serve as a Model for Federal
Safety Testing
 The
Federal Aviation Administration has selected Louisville International
Airport to serve as a national model site to test next-generation technology.
Unlike current procedures,
whereby the FAA tests individual components of new technology separately
and at different airports, Louisville will be the first national model
test site at which multiple next-generation safety, security and efficiency-related
aviation technology will be tested in a comprehensive and integrated
approach.
The FAA said Louisville
was selected as a test site based on a number of factors, including
a $30 million investment in safety technology by UPS and an agreement
to include some of the Kentucky Air National Guard’s fleet in the
test.
The new technology
being installed at the airport will address risk areas such as runway
incursions and in-air incidents as well as security issues.
LEXINGTON
UK Receives $1.4M in Funding to Help Solve Farming
Problems
 Through
a unique collaboration with the USDA’s Agricultural Research Service
(ARS), the University of Kentucky is launching an innovative new forage-animal
research initiative.
The program’s
goal is to develop new technologies that will enhance the health and
performance of grazing animals, with the result being more dollars for
Kentucky farmers.
Pastured and grazing
animal operations account for between $1.5 and 2 billion in Kentucky
farm income – nearly half of all farm income for the state.
The program has
already brought quick results in finding the likely cause of Mare Reproductive
Loss Syndrome (MRLS), and its focus on grazing animals and forages means
a wide range of benefits to agriculture. MRLS, which hit several breeds
and affected both large and small farms, caused more than $300 million
dollars in losses to Kentucky’s horse industry – the state’s
leading source of agricultural cash receipts.
OLIVE HILL
Organization Proposes New Food Processing Plant for
Carter County
A new organization
formed has been formed in Carter County with hopes of developing a fruit
and vegetable processing factory.
The Friends of Northeastern
Kentucky Farm Families is in the process of trying to obtain $3-$4 million
in grant money from the Kentucky Agricultural Development Board. The
plan calls for local farmers to sell their produce the factory, which
would then freeze, can, pickle or dry the items and then put them on
the market.
If developed as
planned, the factory would employ approximately 35 full-time workers
in the first year and as many as 105 within three years.
A location of the
proposed plant has not yet been decided upon.
RICHMOND
Harlan Firm Receives EKU Award for Excellence in Entrepreneurship
 Almost
20 years ago, Charleen Combs and Bob Harris found themselves in a quandary:
Their employer, Eastover Mining Co., had been sold. Despite possible
opportunities with the new owner, it was clear that the staff would
be downsized.
“It seemed
like a perfect opportunity to strike out independently,” Combs
recalls.
Combs and Harris
decided to stay in Harlan and establish their own software development
company in 1983. Today, Data Futures Inc. (DFI) has carved its own sizable
niche producing and providing administrative software to school districts
and the healthcare industry throughout Kentucky and several other states.
Total revenues last year topped $2 million.
For its achievements
and contributions to the regional economy, DFI recently received the
excellence in entrepreneurship award from EKU’s College of Business
and Technology.
Nominees for the
award must reside or have businesses located in a 47-county region of
eastern and southeastern Kentucky. Award recipients are determined by
the economic success of the enterprise, contributions to the community
and operational achievement as measured by innovative employee training
programs, superior use of technology and safety achievement, and sustainability.
Virtually every
school district in Kentucky utilizes DFI products, which help manage
bus transportation, track attendance, budgets, employee certification,
food services, maintenance and inventory, field trips, and redistricting.
The company recently opened a branch office in Kingsport, Tennessee
to house two trainers/support personnel and three software developers.
“Data Futures
is an outstanding example of how two east Kentuckians used their entrepreneurial
talent, drive and vision to take full advantage of an occasion to create
an opportunity,” said Ewell Balltrip, executive director of the
Kentucky Appalachian Commission.
Business
Briefs
BOWLING GREEN
- Western Kentucky
University closed the 2001-2002 fiscal year with a record-breaking
$12.3 million received in cash gifts. The figure represents a 25.3
percent increase over cash gifts received last year and a 186 percent
increase over gifts received just four years ago.
CAMPBELLSVILLE
- Campbellsville
University Trustee George W. Ransdell and his wife, Marie, have donated
$1 million to the university for the construction of a new chapel.
The gift represents the largest capital gift ever made to the university.
The chapel project, estimated to be $4 million, will also include
new academic space for the university’s School of Theology, which
currently offers undergraduate and graduate degree programs.
CLERMONT
- The makers of
Jim Beam bourbon are courting the Hispanic market with a new advertising
campaign designed to increase sales in that segment of the population.
The latest figures from the U.S. census indicate that America’s
Hispanic population grew 58 percent between 1990 and 2000; however,
Jim Beam officials found that only five percent of its consumption
came from the Hispanic market.
CORBIN
- CTA Acoustics
is investing $10 million to upgrade technology and expand its plant
in Corbin, the company’s primary manufacturing facility. The
Corbin plant produces insulation products for Ford Motor Company’s
Kentucky Truck Plant in Louisville.
CYNTHIANA
- Matt Stone, Inc.,
which manufactures concrete stepping stones and veneer stone products,
is building a 40,000-square-foot plant near Cynthiana’s existing
industrial park. The company, which supplies products for Wal-Mart,
Home Depot and Lowe’s, expects to initially employ 20 workers
and eventually as many as 45.
ELIZABETHTOWN
- Summit Polymers
Inc., which produces molded automotive interior trim, is planning
to add 15,000 square feet of production space to its existing facility.
The $2.3 million addition is expected to be completed this fall and
will create around 80 new jobs. The plant currently employs 185 workers.
ERLANGER
- Steinkamp Molding,
a German manufacturer of foam and rubber injection molds, is investing
$600,000 in new equipment to better meet customer demand. The new
equipment will enable the company to produce higher quality molds
more quickly and cost-effectively.
FLORENCE
- Florence-based
Bank of Kentucky has announced plans to buy approximately $200 million
in assets of Peoples Bank of Northern Kentucky. Peoples Bank will
use its remaining $42 million to settle legal matters resulting from
its ties with Erpenbeck Co., an Edgewood homebuilding company that
has been accused of a bank fraud scheme that involved Erpenbeck’s
commercial account at Peoples. The acquisition will make the Bank
of Kentucky the second largest bank (in terms of deposits) in the
Northern Kentucky region.
FRANKFORT
- R.J. Industries
LLC is investing nearly $800,000 for a new plastic injection-molding
line that is expected to add another 24 jobs to the company’s
current 18-member workforce. The company produces molded wheel covers
and center casts.
- Frankfort First
Bancorp, Inc. launched a new stock repurchase program on August 15
to buy up to 62,000 shares or approximately five percent of the company’s
outstanding shares. The repurchase program will be in effect for nine
months or until the total is repurchased, whichever comes first. A
previous repurchase program, initiated on November 8, 2001, did not
result in the repurchase of any shares, primarily due to an increase
in the market price of the shares that coincided with the initiation
of the plan.
FRANKLIN
- Construction
is underway for Vermont Thread Gage’s new 10,000-square-foot
manufacturing facility in Simpson County’s North Industrial Park.
The facility will handle the production of a full range of threaded
fixed-limit gaging. The company is expecting to initially employ up
to 25 workers, with that number eventually reaching 50 within the
first year.
GEORGETOWN
- Toyota’s
Georgetown plant is undergoing a $10 million renovation to its paint
shop with a goal of reducing solvent fumes by 26 percent. The renovation
is part of a company-wide plan to shift from a system using solvent-borne
paints to one utilizing water-borne paints, which is a cleaner and
more efficient process.
- The Georgetown
City Council has officially approved a new $4.3 million business park
that will be built to attract new industries and alleviate the city’s
dependence on Toyota Motor Manufacturing. The first phase of the 399-acre
park will provide more than 200 acres for local businesses looking
to expand as well as space for new industry, with a mix of industrial,
technological, research and office space. The city estimates that
land prices will range between $25,000-$30,000 per acre. If developed
as planned, the park could ultimately create more than 5,000 new jobs
and generate approximately $2.2 million in payroll taxes.
GLASGOW
- T.J. Samson Hospital
has opened a new outpatient dialysis center, the first hospital-based
clinic of its type in Glasgow.
HEBRON
- Hebron Deposit
Bank has merged with First National Bank of Southwestern Ohio to form
First Financial Bank. Both banks are affiliates of Ohio-based First
Financial Bancorp. Company officials explained that the merger removes
geographic references, providing a more regional approach for future
expansion.
HOPKINSVILLE
- The Pennyroyal
Arts Council has received grants from the Kentucky Arts Council and
the Southern Arts Federation totaling more than $15,000. The grants
provide funds to bring in the Owensboro Symphony Orchestra and the
Dallas Brass for performances at Hopkinsville’s Alhambra Theatre.
The Dallas Brass will also conduct workshops with band students from
Christian County High School and Hopkinsville High School.
HORSE CAVE
- American Wood
Products, which produces butcher block-style tops, benches and specialty
products, has been acquired by AWP Butcher Block, Inc. The company
will continue to operate from its existing location in Hart County.
JUNCTION CITY
- A petition for
liquor by the drink to be allowed in restaurants seating a minimum
of 100 people has been certified as having enough signatures to appear
on the ballot in the next election.
KENOVA
- Marathon Ashland
Petroleum has started construction of a 149-mile pipeline that will
connect its Kenova products terminal with Columbus, Ohio, an area
that is experiencing significant growth. The construction of the 14-inch
pipeline, designed to transport some 50,000 barrels of fuel per day,
has elicited criticism from property owners and environmental activists,
who say the construction will harm some of Ohio’s most scenic
countryside.
LAWRENCEBURG
- The City of Lawrenceburg
has begun construction on a new water treatment facility that will
provide a pumping capacity of four million gallons per day. The $9
million facility is being built on property donated by Wild Turkey
Distillery.
LEXINGTON
- The Kentucky
Department of Insurance has suspended the viatical settlement provider
licenses held by Kelco, Inc. and three of its executives. The action
was taken based on federal indictments handed down in July that included
mail fraud, wire fraud, money laundering and forfeiture. Viatical
provider licenses allow a company or individual to buy a person’s
life insurance policy for less than the expected death benefit, becoming
the new owner and/or beneficiary of the policy, thus paying all future
premiums and collecting the death benefit when the insured person
dies.
- Patrick DeLuca,
Ph.D. has been named as the 2002 Kentucky Pharmacist of the Year by
the Kentucky Pharmacists Association. DeLuca is a professor of pharmacy
at the University of Kentucky and is an expert in novel drug delivery,
formulation and process development of proteins and peptides and freeze-drying.
- Lexmark’s
board of directors has authorized the repurchase of another $200 million
in shares of its Class A common stock. The company previously authorized
repurchases of up to $1.2 billion, of which the company has acquired
$1.18 billion.
- Blue Grass Airport
has received a $5 million federal grant for airport improvements,
the majority of which will be utilized to construct additional aircraft
parking. That additional space will enable airlines to provide the
Central Kentucky area with more late-night and early morning flights.
The funds also provide $400,000 for security measures.
- Wicklund Holding
Co., a Lexington-based holding company that invests in growing industries
through mergers and acquisitions, has signed a letter of intent to
purchase A.T.G. Sports Industries Inc. Kansas-based A.T.G. develops
and installs artificial sports surfaces for indoor and outdoor track
and field applications as well as playing surfaces for a number of
court-based sports. A.T.G. will retain its management and operate
as a wholly-owned subsidiary of Wicklund.
- Murphy Surf-Air
Trucking Co. has been sold to John J. Stoeckinger, who will hold the
position of president and CEO. The company will continue its regional
and local services between its lanes in Chicago, Louisville, Atlanta,
Lexington, Dayton, Cincinnati, Tri-Cities, Nashville, Knoxville, the
Carolinas, and Indiana. The company has also developed a new sister
company, MSA Logistics, which will primarily handle truckload and
expedited LTL (less than truckload) shipments.
- Smith Management
Group (SMG) has purchased the intellectual property and rights to
sell software formerly marketed as Compliance Assistance 2.0. “Basically,
it drills lengthy policies and procedures, permits, or any set of
instructions down to the bare action-oriented necessities: Who needs
to do what, when does it need to be done?” explained SMG President
Scott Smith. “Then, it tracks information associated with the
completion of each task.” The software will be marketed by SMG
under the name OrgMan 2000.
LILY
- The London-Laurel
County Industrial Authority has issued industrial revenue bonds for
up to $43 million for the expansion of Aisin Automotive Castings,
which manufactures engine components for Toyota vehicles. The existing
facility will be expanded by up to 150,000-square-feet and will be
used to create parts for Toyota’s Tundra and Sequoia models.
The exact size of the project and potential new jobs has not yet been
determined.
LINCOLN COUNTY
- The Lincoln County
Area Technology Center has opened at Lincoln County High School, offering
students there the opportunity to participate in on-site vocational
classes. The $6.5 million center offers programs in areas such as
industrial maintenance, machine tool technology, wood manufacturing,
information technology and health sciences.
LONDON
- An investment
by Kentucky Highlands Investment Corporation (KHIC) is enabling Bluegrass
Spring Company to expand its factory floor space by 10,000 square
feet and purchase new machinery. The London company, one of the only
spring makers in the Southeast region, produces precision spring,
wire form and stampings for customers such as Bay West Paper, Therm-O-Disc,
Matsushita, Suntec and Bretha Power Tools. Owner Jack Grosswiler is
hoping to hire up to 10 new employees plus a manager for the stamping
operations.
LOUISVILLE
- Work is proceeding
for a 2004 opening of the Owsley Brown Frazier Historical Arms Museum
in Louisville. The collection will feature 10 centuries of arms and
armor from Europe and America and is expected to be in the same class
as some of the most prestigious arms collections in America, such
as the Metropolitan Museum of Art, the Art Institute of Chicago and
the Higgins Armory Museum. Walter J. “Chip” Karcheski has
been named as the chief curator of arms and armor for the new museum.
Karcheski previously served as senior curator at the Higgins Armory
Museum in Massachusetts.
- NetWorld Alliance
LLC, which develops and owns Web sites that focus on news and information,
is moving from Oldham County to the Eastpoint Business Center in Jefferson
County, where it is building an 11,500-square-foot building. The company
currently employs around 25 people and expects to add another six
workers per year as the firm expands.
- Louisville Water
Company has completed its purchase of Goshen Utilities, which provides
water to approximately 1,900 customers in southwest Oldham County.
Goshen Utilities was previously owned by Aquasource Inc. of Pittsburgh.
- The law firm
of Harper, Ferguson & Davis has merged with Ogden Newell &
Welch, with Spencer E. Harper Jr. and William W. Davis joining the
merged firm as partners.
- The Speed Art
Museum will host the U.S. debut of the “Millet to Matisse”
exhibit, which will run from November 6 through February 2, 2003.
The exhibit is expected to draw up to 50,000 visitors.
- Mareli Development
Co. has been purchased by St. Louis-based McBride & Son Homes
Inc. for an undisclosed price. Mareli has been building homes in the
Louisville area since 1992.
- Penske Truck
Leasing Co. has purchased 7.3 acres at the Eastpoint Business Center
where it is building an 11,516-square-foot facility. At Eastpoint,
Penske will join companies such as Kroger, Underwriters Safety and
Claims Inc., the Kentucky Hospital Association and Commonwealth Wine
and Spirits.
- High Speed Access,
a Louisville-based provider of broadband Internet and communications
services, has announced plans to dissolve the company. The firm has
been without revenue-producing assets since the February sale of its
Internet access assets to Charter Communications Corp.
- Caritas Peace
Center has opened a 20-bed wing for elderly psychiatric patients at
a cost of $900,000. According to the surgeon general’s 1999 report
on mental illness in the U.S., approximately 20 percent of the population
age 55 and older has mental disorders not associated with normal aging.
Statistics also show that the population group age 85 and older is
the fastest-growing segment in the nation.
- CMJ Ventures
Inc., a Louisville sales and marketing company, has been acquired
by Chattanooga-based Sporting Magic Inc., which plans to centralize
its sales and marketing operations in Louisville. The consolidation
is expected to increase the company’s Louisville employee base
from 30 to 150.
- ISCO Industries,
a supplier of high-density polyethylene piping, has acquired Cooper
Wholesale of Pryor, Oklahoma. Cooper is also a piping supplier but
focuses on the oil and gas markets, while ISCO supplies piping to
water companies, landfills and golf courses. ISCO President Jimmy
Kirchdorfer said the acquisition allows the company to expand into
the south-central area of the country and provides important connections
to the energy market.
MADISONVILLE
- The General Electric
plant in Madisonville has been awarded a contract with the U.S. Department
of Navy worth $76.7 million. The plant, which employs around 830 workers,
produces engine blades and vanes for the F414-GE-400 jet engines.
MARION
- Ceramics producer
Cera-Tech, Inc. has been sold to Diversified Manufacturing, Inc.,
a Georgia company with interests in metal processing and wood product
industries. Diversified plans to have CeraTech develop new technical
products with specialized applications, possibly for the aircraft
or military sectors. The new owners do not plan to make any changes
to the company or relocate the business.
MARTIN COUNTY
- Martin County
Coal has been ordered to pay $3.25 million as penalty for one of the
nation’s worst coal sludge spills. The company will pay $1.75
million in penalties and $1 million for damage to the environment.
Another $500,000 will go to reimburse the state of Kentucky for the
required clean-up.
NICHOLASVILLE
- Schmalbach-Lubeca,
a Michigan company that produces plastic food and beverage containers
at its plant in Nicholasville, has been acquired by Amcor, an Australian
company.
NORTHERN KENTUCKY
- Innotrac Corporation,
an Atlanta-based customer relationship management services company,
has signed a lease with ProLogis for 286,000-square-feet of distribution
space at Airport Distribution Center near the Cincinnati/Northern
Kentucky Airport and the I-75/I-275 junction.
PADUCAH
- Computer Services
Inc. has landed one of its largest data processing contracts with
a deal to provide data processing for Marshfield Investment Co., a
three-bank holding company in Springfield, Missouri. CSI has also
recently signed deals with Community National Bank in Monett, Missouri
(near Springfield) and Marketing Solutions of Birmingham, Alabama.
- Trees n Trends,
a Paducah-based home décor company, has emerged from bankruptcy
reorganization with record profits. The company faced debts of nearly
$25 million when it filed for bankruptcy approximately a year and
a half ago, but officially came out of Chapter 11 status on July 15
with more than $1 million in profits. To accomplish that, the company
closed its Memphis distribution center and six retail stores and cut
more than 200 jobs, resulting in an $11 million reduction in operating
costs. The company now operates 21 stores in Kentucky, Tennessee,
Illinois, Missouri, Mississippi, Arkansas and Alabama.
PINE MOUNTAIN
- The Pine Mountain
Community Development Corporation has been awarded $100,000 by the
Community Development Financial Institution to help create and sustain
small businesses in the area.
SHELBYVILLE
- Developers are
hoping to convert the old Coca-Cola bottling plant in Shelbyville
into 23 two- and three-bedroom apartments. The developers say the
plans for the project, which is estimated to cost approximately $3
million, retain the historic art deco facade of the building.
- Covington-based
Clear Channel Radio Inc. has purchased WTHQ radio in Shelbyville and
changed the call letters to WIBL. Clear Channel was prohibited by
the Federal Communications Commission from upping the wattage of its
WYBL station in Shelbyville and bought the second station in order
to provide increased coverage in the eastern portion of the Louisville
market.
SHEPHERDSVILLE
- APL Logistics,
an international distribution company, has leased nearly 200,000 square
feet of space at the Cedar Grove Business Park. The company will handle
distribution for Dow Corning and expects to initially employ around
60 full-time workers.
STURGIS
- Martin’s
Tire Company of Marion, Kentucky has bought a 30,000-square-foot spec
building located in the Union County Industrial Park. The facility,
which will employ 30-40 workers, will produce tire-derived fuel, which
is mixed with high-sulfur coal to produce electricity.
WESTERN KENTUCKY
- Henderson and
Owensboro are among nine sites selected by McDonald’s Corp. to
test its new “diner” concept. The “McDonald’s
with a Diner Inside” will feature an expanded menu that includes
items such as cooked-to-order eggs, Belgian waffles, diner sandwiches,
meat loaf, open-faced sandwiches, mashed potatoes and a variety of
desserts, all in addition to McDonald’s regular items. The diners
will also offer table service as well as the traditional counter service.
STATE
- The Commonwealth
is slated to receive $130 million from a national fund for tobacco
growers this year. The figure represents the largest amount available
to farmers since the National Tobacco Growers Settlement Trust Fund
was created in 1999 to help offset the loss in income brought about
by a decrease in demand for domestic tobacco.
- Goodwill Industries
of Kentucky has been awarded a $1 million federal grant to provide
services to individuals with disabilities. Funded by the U.S. Department
of Labor, the two-year grant will serve 17 counties in the Central
Kentucky region. The money will be used to help facilitate disabled
persons’ access to Central Kentucky Job Centers, where career
counseling and guidance are offered.
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