Corporate Report

Draken International hired to teach Marine pilots
Draken International has been hired to provide close air support training for the U.S. Marine Corp. Draken will use former-military pilots flying Douglas A-4K Skyhawk attack aircraft, as a stand in for the F/A-18 and the AV/8B Harrier, to teach Marine Corp. joint terminal attack controller trainees.

The Skyhawk aircraft features much of the same speed and maneuverability of existing Marine aircraft and has similar instruments and equipment, such as a modern pulse Doppler radar, counter-measures, heads up display, hands on throttle-and-stick and inert ordinance.

The Lakeland-based company says the agreement offers cost savings to the Marine Corp. and cuts down on wear on the military's aircraft.

Schifino Lee updates look of dietary supplement line
Schifino Lee Advertising + Branding has unveiled new branding and redesigned packaging for MaxiVision, MedOp Health Inc.'s eye-focused dietary supplement subsidiary. The Tampa advertising firm says the new changes position MaxiVision as a premium product with bottle labels and drink packets in orange-yellow and gray hues.

The packaging design changes were particularly challenging, Schifino Lee says, because it needed to make the product look more professional and clinical, while still being easy to read and understandable for people with sight problems.

American Fiber Green Products reaches deal with Owens Corning
Tampa-based American Fiber Green Products Inc. (symbol: AFBG; recent price: $0.25) has entered into a five-year agreement with Owens Corning to provide recycling services.
American Fiber Green Products will recycle glass fiber-related material from Owens Corning's Amarillo, Texas, plant.

The Amarillo plant is one of Owens Corning's largest manufacturing facilities.

The contract is set to start when American Fiber Green Products completes construction of its recycling and manufacturing facility in the Amarillo area. That plant is scheduled for completion in about a year.

“We expect a successful recycling program in Amarillo to be the catalyst to an expanded relationship between our firms and potentially include other Owens Corning facilities around the country,” American Fiber Green Products Chairman Kenneth McCleave says in a press release.

C1 Bank chief operating officer elected bank association chairwoman
Rita Lowman, executive vice president and chief operating officer of C1 Bank (symbol: BNK; recent price: $18.99), was elected as the 2017 chairwoman of the Florida Bankers Association. Lowman will be only the third woman to chair the association in its 126-year history.

Before joining C1 Bank in 2010, Lowman held statewide senior level positions at Bank of America, Regions Bank and American Momentum Bank.

Illinois corrections department using Tribridge software
The Cook County Department of Corrections in the Chicago area is now using Tribridge Offender360, a technology solution from Tampa-based Tribridge designed to reduce the complexity and cost of managing inmates.

The Cook County Department of Corrections is the largest single-site pre-detention facility in the country. It admits nearly 100,000 detainees each year and oversees an average daily population of 9,000 inmates.

Heritage Insurance opens Sunrise office
Clearwater-based property and casualty insurance holding company Heritage Property & Casualty Insurance Co. is expanding into southern Florida through a new office in Sunrise. The office will feature several bilingual employees along with staff counsel and claim operations.

TECO Energy finds new suitor for TECO Coal subsidiary
A subsidiary of TECO Energy Inc. (symbol: TE; recent price: $17.79) has entered into a non-binding letter of intent with a new buyer for its interest in TECO Coal LLC.
An earlier agreement with Kentucky-based Cambrian Coal Corp. was canceled after the buyer was unable to close on June 5.

TECO Energy officials say the buyer does not expect to require external financing.

The definitive agreement is still being negotiated and requires additional approvals. It is scheduled to close by July 3.

TECO Energy has classified its TECO Coal segment as a discontinued operations since the third quarter of 2014.

Enviro-Serv's X-Terminate wins St. Pete bee, wasp bid
X-Terminate, an Enviro-Serv Inc. (symbol: EVSV) subsidiary working closely with the Pestmaster Franchise Network's contracts team, has submitted and won a bid to provide bee and wasp control on U.S. Department of Veterans Affairs facilities in St. Petersburg. The company says the bid will increase local sales in Tampa for those operations by about 5%.

X-Terminate is in process to become a formal Pestmaster franchise, which it says will make it eligible to pursue more federal contracts. Chris Trina, president of X-Terminate, plans to end the X-Terminate brand once the deal with Pestmaster is finalized.

Express Scripts exec becomes president at Health Insurance Innovations
Patrick McNamee has been named president of Health Insurance Innovations Inc. (symbol: HIIQ; recent price: $4.92).

McNamee began his career with General Electric Corp. in product management at GE Medical developing radiology information systems. He spent 14 years at GE, eventually becoming president and CEO of GE Surgery, a division of GE Medical Systems.

He then took on the role of president and CEO of Physician Systems at Misys Healthcare Systems. Most recently, McNamee served as executive vice president and chief operating officer of the Express Scripts Holding Co., which grew from $10 billion to more than $100 billion in revenues over his nine-year tenure.

McNamee serves on the board of directors of HD Supply Holdings Inc. and Corizon Health.

NeoGenomics set to join Russell 3000 Index
Fort Myers-based NeoGenomics Inc. (symbol: NEO; recent price: $5.76), is scheduled to join the Russell 3000 Index, according to a preliminary list of additions posted June 12.
Membership in the Russell 3000 Index, which lasts a year, means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index. Russell indexes are widely used by investment managers and institutional investors for index funds and benchmarks.

Based on the current total dollar market value of NeoGenomics' outstanding shares (market capitalization), the company believes it will be included as part of the small-cap Russell 2000 Index.