NEWS IN BRIEF

— LR attic-stair firm has Lowe’s deal, is hiring

A Little Rock manufacturer that specializes in folding attic stairs said Monday that it would ramp-up production and hiring.

Century Industries Inc.

said recent agreements with home-improvement retailer Lowe’s and other building-supply stores has meant the 40-worker company has added 30 jobs and increased its weekly production from 2,000 units to 3,000.

“It’s huge,” Century Industries chief operating officer Roger Ball said of landing the Lowe’s deal.

The agreement does not set a specific number of attic stairwells that will be placed in stores, but Ball said the company is projecting the deal to mean an increase of at least 10,000 units per year.

Among the company’s other product deals is an agreement with Southwest Molding, a Dallas wholesaler.

The company is trying to hire another 17 employees. Ball said he expects to need 30 more workers by summer.

The hiring so far has been through the state’s Department of Workforce Services. Ball said the production jobs average about $10.50 an hour in total compensation, including the total cost of employee health-care premiums.

Wal-Mart to boost Brazilian investment

Wal-Mart Stores Inc.

plans to boost its investment in Brazil by as much as 38 percent to open 110 stores as Latin America’s largest economy returns to growth.

The Bentonville-based company plans to invest as much as $1.2 billion in Brazil next year, up about 37 percent from 2009, Hector Nunez, president of the retailer’s Brazilian unit, said at a news conference Monday in Sao Paulo. The retailer has 435 stores in the country.

While the chain isn’t negotiating any acquisitions, it’s open to proposals, Nunez said. The company plans to use its own funds to finance expansion, he said.

Brazil’s gross domestic product will expand by 5 percent next year, according to a central bank survey of about 100 economists published Monday.

GDP will shrink 0.23 percent in 2009, the economists predicted.

The retailer opened 91 stores and 3 distribution centers in Brazil in 2009, Nunez said.

Arkansas Index gains 1.75, goes to 166.06

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.75 to 166.06 Monday.

Volume was 49 million shares, compared with average volume of 31.2 million shares.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business, Pages 23 on 12/22/2009

Upcoming Events