Navy awards $22.5 million contract to
Raytheon
LEXINGTON — The Navy has awarded Raytheon Systems a contract for the
production of three ships self-defense systems for three of its newest
ships, the company has announced. The contract, valued at $22.5 million,
will cover SDS systems for a new Nimitz class aircraft carrier, and two
amphibious transport dock ships. The systems are designed to protect
the ships from enemy cruise missiles. According to the release from Sen.
John H. Chafee’s office , about 10 percent of the work will be done at
Raytheon’s Portsmouth plant. Completion is scheduled for February 2000.
Feds grant $1.1 million for economic
development
BOSTON – A Boston Edison Co. initiated project to train unskilled men
and women for high technology jobs -a welfare to work project–has
received a $1.1 million grant from the U.S. Department of Labor. Named
the Boston Technology Venture Center, the project would provide cheap
space for start-up companies. The project will also provide tenants with
business advice and legal, accounting and other professional services.
The center will be run by a non-profit corporation with no Boston Edison
involvement. Twelve companies have reportedly expressed interest in the
project.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
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Wonder Bread closing Natick facility
NATICK – The Wonder Bread and Hostess Cakes facility here will be closed
and its work shifted to Biddeford, Maine and Wayne, N.J., company
officials announced last week. An Interstate Bakeries spokesman in
Kansas City, Mo., said the move would begin toward the end of winter and
continue through the spring and summer. The company employs 550 workers
in Natick.
Defense Department awards $167 million
contract
LEXINGTON — The Department of Defense has awarded a $167 million
contract to the Raytheon Co. for the production of the Miniature
Airborne Global Positioning Receiver200 or MAGR 2000 The MAGER 200 is
designed to provide global navigational capacity for most military
aircraft, including the B-1B, F/A-18, AH-64, AV-8B, and F-117.
Peritus Software to lay off 45 in
restructuring
BILLERICA – Peritus Software Services Inc. announced that it would lay
off about 45 employees as it restructures the company. Peritus solves
software maintenance problems.
Boston Communications, Lucent unit in
agreement
WOBURN – Boston Communications Group Inc. and Lucent Technologies Inc.’s
AG Communications Systems unit have agreed on the development of a
wireless intelligent network system for Boston Communications’ wireless
prepaid services. Terms of the agreement were not disclosed.
ScanSoft sold to California company
PEABODY – ScanSoft, a digital imaging software division of Xerox, has
been sold by that company to Visioneer Inc. of Fremont, Calif. The sale
was reportedly valued at $20.7 million. As a result ScanSoft Inc. will
be a new entity with its headquarters here in Peabody with its current
management in charge. About 120 of the companies combined employees will
be at the Peabody headquarters, with 30 other employees employed
elsewhere. Xerox will retain a 45 percent interest in ScanSoft, while
Visioneer, which made digital scanners and software, sold its hardware
division to Primax Electronics Ltd. of Taiwan.
Back Bay Restaurant Group bought back
by CEO
BOSTON – Publicly traded Back Bay restaurant Group has agreed to be
bought by its chief executive Charles Sarkis. Shareholders will be
entitled to $10.25 a share in the buy-back agreement. The restaurant
chain, including Pappa Razzi and Charley’s Eating and Drinking Saloon is
composed of 34 restaurants throughout the Northeast.
Maryland parent of Arnold’s buys
British agency
BOSTON – Snyder Communications of Bethesda, Md., owner of Arnold
Communications, announced that it had purchased Partners BDDH of England
in a stock deal valued at $27.7 million. Partners is reported to be one
of the largest independent ad agencies in the United Kingdom. While
continuing to operate independently in England, Partners will report
directly to the president of Arnold’s, that agency’s first venture into
the international market.
36-story tower planned at Prudential
BOSTON – Construction of a 36-story tower at the Prudential Center is
scheduled to expected next spring, according to Boston Properties.
Although the company said no decision has been made for a starting date
for the reported $250-million addition to the Pru complex, a company
spokesman said April is the target.
New Ford dealership opens
FALL RIVER — With the arrival of Fall River Ford the city welcomed
a business that provides seven new jobs. The company has 60 employees.
The dealership acquired last October by Fernando Garcia and his partner
Bruce Texeira , sponsored a series of special events last week
connected with the “grand opening.” It is located on Canning Boulevard
in the same location where Garcia started in the automobile business 20
years ago. He is the vice chairman of the New Bedford Economic
Development Council.
(Compiled from news reports and releases, print and electronic.)
