Capsugel
leases space at incubator |
GREENWOOD -- Capsugel will
lease research space at the South Carolina Biotechnology Incubation Facility to
formulate and develop drug delivery systems. |
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The agreement announced Tuesday
means 90 percent of available space at the Greenwood incubator is being used.
Other tenants of the facility include diagnostic testing and disease prevention
companies. |
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Capsugel has sales and
manufacturing operations in Greenwood. Headquartered in Morris Plains, N.J.,
Capsugel is a division of Pfizer and employs more than 2,000 people worldwide. |
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* Workers' comp rate hike
request cut |
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S.C. companies will save $20
million a year in worker's compensation payments, the state Department of
Consumer Affairs said. |
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The agency said it reached a
settlement with the National Council on Compensation Insurance, a national
group that helps set workers' compensation rates, that lowered a rate increase
request from 17.6 percent to 11.4 percent. The council made its request with
the S.C. Insurance Department. |
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The lower rate adds up to $20
million less that employers will pay for the year starting July 1. |
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* Panel questions Sonoco joint
venture |
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HARTSVILLE -- The European
Commission on Monday said it plans an "in-depth investigation" into
the competitive effects of Sonoco Product Co'.s plan to merge its European
operations with Ahlstrom of Finland. |
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The commission said it
"has doubts that the market would remain sufficiently competitive given
the limited number of competitors," according to Reuters. The statement
said the commission is working with the companies to settle its concerns. |
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The companies announced the
merger in April. It involves 40 plants with combined sales of $337
million last year. |
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Stock in Sonoco closed at
$25.46 a share, down 29 cents. |
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* Shakespeare names new
president |
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Shakespeare Monofilament has
named James A. Bennett as president and general manager. |
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During the 1990s, he was a vice
president for K2 Corp., which owns Shakespeare. Bennett returned to the company
after working for Eaton Corp. and Flint Ink. |
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The company makes fishing line
and other monofilaments. |
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* BlackBaud sets stock sale terms |
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CHARLESTON -- BlackBaud Inc., a
maker of software for nonprofit groups, says it hopes to sell 9.1 million
shares of stock at $10 to $12 a share. |
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In a filing with federal
regulators, the company said it hopes to raise $115 million in its initial
public offering. All the shares are from existing shareholders. |
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The company lost $478,000 in
2003, compared with a $15.6 million profit in 2002. |
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The company hopes to trade
under the BLKB symbol on the Nasdaq exchange. |
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* In other news: |
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* Lane Properties has bought Northshore
Property Management of Little Mountain. Property manager Tania Smith will
remain with the company. |
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* Edgar McGee of Orangeburg has
been named president of the Carolinas Systems Builders Association. |
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* The S.C. Farm Bureau
Marketing Association will handle sales of grain at four Southern States
Cooperative Inc. facilities in the Pee Dee. |
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* Two S.C. organizations
received federal grants to train and employ homeless veterans: $200,000 for the
S.C. Employment Security Commission and $172,000 for Goodwill Industries of
Lower South Carolina. |
* The Carolina Farm Stewardship
Association has opened an office in Columbia. The group, which promotes organic
farming, has a grant from Jimmy Buffett's "Singing for Change"
foundation.
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