Corporate Report

Corporate Report

by Sean Roth | Real Estate Editor

PGT, ASI create joint venture

Indianapolis-based ASI Limited and PGT Industries, a wholly-owned subsidiary of Venice-based impact-resistant door/window manufacturer PGT Inc., have formed a joint venture to expand their market reach for curtain walls.

The joint venture is designed to help ASI Limited and PGT compete for more large-scale projects.

"By offering a one-stop-shop for unitized curtain walls to the commercial construction industry, we are offering the industry a way to save money and gain control over their projects by dealing with one team that is involved in every stage of the project as it moves from design to construction," Wayne Varnadore, vice president of architectural systems at PGT, said in a press release. "Customers will benefit from PGT's strength in manufacturing and supply chain management combined with ASI Limited's extensive experience in sales, marketing, engineering and project management."

PGT has manufacturing facilities in Venice; Salisbury, N.C.; and Lexington, N.C. ASI began as a company focused on the glazing industry and has evolved into a curtain wall producing company.

Together, the two companies have more than 1.3 million square feet of manufacturing space. The joint venture was finalized in February, and the two companies already have one project in process: the River House in Grand Rapids, Mich. At 34 floors, the 4,200-unit 188,000-square-foot River House will be the state's tallest residential structure.

Armorit distributes

zero-emission vehicles

Vectrix Corp., a Middletown, R.I.-based maker of high performance zero-emission vehicles, and Armorit LLC, a Sarasota-based product development and delivery provider to military markets, have reached a three-year agreement for Armorit to serve as the exclusive distributor of Vectrix ZEVs to the U.S. military.

Under the agreement, Armorit has the exclusive rights to distribute the Vectrix two-wheel and three-wheel vehicles outside of the United States to the U.S. Army and Air Force Exchange Service.

In addition to distributing current Vectrix models, Armorit has the ability to modify the current configurations of Vectrix models for tactical and special utility uses.

"Given the high performance and near silent drive of the zero-emission Vectrix, we believe Vectrix will have significant applications in (Department of Defense) facilities for base level support functions and other activities suitable for small utility vehicles," Floyd Asbury, president of Armorit said in a press release. "Additionally, its low-heat signature and ability to operate in a silent or stealth mode are critical characteristics that also opens up multiple opportunities for tactical applications."

Vectrix Corp.'s two-wheeled zero-emission vehicle called Vectrix has a top speed of 62 mph and can go from 0 to 50 in 6.8 acres. The three-wheel version is expected to go to market in 2009.

Eyeglass-maker Neostyle

puts distribution to Bradenton

High-end eyeglass frame designer/manufacturer Neostyle has relocated its U.S. distribution headquarters to downtown Bradenton, where the company also plans to introduce direct-to-market distribution.

The eyeglass designer, which developed glasses for Elvis Presley Oprah Winfrey, the Queen of England and Elizabeth Taylor, previously used a distributor in California for its U.S. operation. Neostyle USA now occupies 1,000 square feet in the Bank of America building in downtown Bradenton. The company, which makes its products in Italy and Germany, had worldwide sales of $40 million in 2007.

"We wanted to be in Florida for the lifestyle," Bob Lawson, president of Neostyle USA, said in a press release. "The [Economic Development Council of the Manatee Chamber of Commerce] helped us make a painless move to Bradenton. We have a small footprint here now, but our team will grow as we take over U.S. sales and distribution for ourselves."

Neostyle frames typically range in price from $200 to $600 (retail), but are also featured in custom designs with luxury materials like gold, platinum or diamonds.

"It is not unusual for Neostyle to create family heirloom frames," Lawson said in press release. "Our products are made in the same locales where Mercedes and Porsche automobiles are designed and manufactured."

General Dynamics

Ordnance wins $109 million in contracts

General Dynamics Ordnance and Tactical Systems, a St. Petersburg business unit of General Dynamics, has been awarded two contracts valued at $20.5 million and $88.7 million for production of small-caliber ammunition by the U.S. Army Sustainment Command in Rock Island, Ill. Work will be performed at the St. Petersburg facility.

General Dynamics and its consortium of small-caliber ammunition manufacturers have produced more than 345 million cartridges since 2006.

General Dynamics Ordnance and Tactical Systems manufactures large, medium- and small-caliber direct and indirect-fire munitions, mortar weapons and systems, artillery projectiles, bomb bodies and ball powder propellant. The company also manufactures precision metal components; provides explosive load, assemble and pack services for a variety of munitions, tactical missile and rocket programs, and designs and produces shaped charge warheads and control systems.

Odyssey Marine boat upgrades new Zeus

Tampa shipwreck recovery firm Odyssey Marine Exploration Inc. reports that following a scheduled winter maintenance period, its recovery vessel Odyssey Explorer has completed routine repairs and upgrades and is being moved to assist with operations.

The 251-foot deep ocean archaeological platform now houses Zeus II, a heavy work remotely operated vehicle (ROV) for deep ocean archaeological survey and recovery operations. The new vehicle features twice the power of the original Zeus system and more advanced controls and telemetry. ZEUS I has temporarily been removed from the Odyssey Explorer and placed in a secure facility where it is being upgraded. In addition to Zeus II, the Explorer platform gained a second remotely operated vehicle for light work.

Other additions to the vessel included main engine and generator strip downs, extensive steelwork repairs to the aft ballast tanks to meet class requirements, and brought forward four additional class surveys, normally scheduled for July 2008 but completed early to not interfere with search and recovery operations in the prime work season.

"These upgrades to the Explorer, although time-consuming, have increased our vessel's search and recovery capabilities and will increase the dependability of the vessel," Greg Stemm, Odyssey's CEO, said in a press release.

The Explorer's sister ship, Ocean Alert, is currently still in Falmouth, U.K. where she continues to undergo extensive engine repairs and upgrades. Ocean Alert is scheduled for completion in April.

Etc...

Investors' Security Trust

expands to Naples market

Fort Myers-based Investors' Security Trust Co. Inc. has opened a Collier County office in Premier Executive Center at 1415 Panther Lane, Suite 246, Naples. Joseph E. Cleveland, senior vice president will manage the office.

Investors' Security Trust Company provides estate settlement, trust administration and portfolio management services. David Jones, a frequent guest commentator on CNBC, CNN and Bloomberg networks, chairs the company. The trust company now serves clients in Collier, Lee and Charlotte counties.

Bowyer-Singleton

opens Tampa-area office

Bowyer-Singleton & Associates, a full-service civil engineering firm based in downtown Orlando, has opened its regional Sun Coast branch in Wesley Chapel, to cover the Tampa Bay region from Pasco to Cirtus County and south to Sarasota County.

The Sun Coast branch will offers clients a full range of services, including surveying and mapping, land development planning and environmental and civil engineering services.

"Bowyer-Singleton has been working with clients in the Tampa Bay area for some time now and we're looking forward to building new relationships and expanding services throughout the area," Brent Setchell, project manager, said in a press release.

Flanders, Lowe's

reach distribution deal

St. Petersburg-based Flanders Corp. entered into a material supply agreement with Lowe's to provide one-inch air filters to the chain's stores nationwide.

"This is an exciting time for our company," Linda Hermann, vice president of retail sales, marketing and strategic sourcing for Flanders, said in a press release. "The retail division is forecasted to achieve $110 million of sales in 2008 based on the current customer base forecasts. We are already seeing positive consumer response to our marketing. Full-page magazine advertisements are published, strategic key market billboards are in place, and advertising during nationally televised sports events are secured. Our new line of Naturalaire products will be in retailers in 2008."

Brown & Brown exec

starts BCBE Client Services

John Caballero has launched BCBE Client Services Inc., an insurance and risk management agency specializing in construction and high-rise property risks in Southwest Florida. Alicia Poole of Naples will be joining BCBE Client Services Inc. as a senior account executive.

Caballero has worked with Poole in the insurance field since 1984 at King Insurance Agency in Naples and with Brown & Brown Insurance. Combined, they have nearly 50 years of insurance and risk management experience

BCBE Client Service will operate from an office at 3606 Enterprise Ave. in Naples.

Superior Uniform Group

joins NASDAQ

The board of directors for Superior Uniform Group Inc., a Seminole-based manufacturer of uniforms, career apparel and accessories, has approved a plan to switch the listing of the company's common stock from the American Stock Exchange, where it has traded since 1969, to the NASDAQ Stock Market. The change is scheduled to become effective on March 24.The stock will trade under SGC, the same ticker it had under the AMEX.

"This decision was reached after careful consideration of capital market alternatives and analysis of the electronic market model, which provides added visibility to our investors," Michael Benstock said in a press release. "We believe that NASDAQ's electronic multiple market maker structure will provide our company with enhanced exposure and liquidity, while at the same time providing investors with the best prices, the fastest execution, and the lowest cost per trade."

Superior Uniform Group, through its marketing brands - Fashion Seal, Fashion Seal Healthcare, Martin's, Worklon, and UniVogue - manufactures and sells a wide range of uniforms, image apparel and accessories.

EDC issues RFQ

to update strategic plan

The Economic Development Corporation of Sarasota County has issued a request for qualifications for companies or individuals to handle revising its economic development strategic plan. Companies or individuals should respond by April 15.

The goal of the new plan is to build on the four strategic focus areas identified in the 2004-2009 plan: value-added industry cluster development, business climate issues, innovation and entrepreneurial development and local and regional collaboration. The planning process is scheduled to begin in September and continue through February of 2009.

The EDC's Partners Council, comprised of representatives from Sarasota County business and civic organizations, will play an active role in evaluating candidates and monitoring the planning process.

Tech Data sells

BIG Wireless products

Tech Data Corp., a Clearwater IT product distributor, has entered into a partnership with BIG Wireless LLC, a provider of outdoor wireless networking solutions. The deal will let Tech Data customers purchase, brand and resell BIG Wireless' outdoor wireless networking services, including site surveys, network design and implementation and remote management. Tech Data created its wireless specialized business unit last fall.