Tyson agrees to pay $3.95 million penalty
Tyson Foods Inc. of Springdale said Friday it has reached an agreement with the U.S. Environmental Protection Agency concerning maintenance of refrigeration systems at 23 production plants in Missouri, Kansas, Iowa and Nebraska.
The agreement includes a $3.95 million civil penalty, plus another $300,000 that Tyson is to provide to purchase emergency response equipment in nine communities where it operates plants.
Tyson said in a news release that the new risk management plans builds on its existing plans for refrigeration systems, which use anhydrous ammonia. The plans are aimed at preventing chemical emergencies.
According to the release, Tyson disputed many of the EPA’s assertions, but acknowledged that there was a period when some refrigeration improvement projects fell behind schedule and that Tyson did not meet all of its obligations at several locations.
- Steve Painter
$83 million invested in Acumen Brands
Fayetteville-based Acumen Brands Inc., an e-commerce company that operates online stores in niche categories, has completed an $83 million investment round, according to documents filed with the Security and Exchange Commission on Thursday.
Growth equity firm General Atlantic of New York confirmed Friday that it was the primary investor. The company manages $17 billion in capital, according to its website.
Acumen Brands was founded in 2009 by Chief Executive Officer John James, a physician turned entrepreneur, and Terry Turpin, its chief operations officer who brings extensive marketing experience to the table. Acumen Brands has multiple e-commerce sites including scrubshopper.com that sells medical uniforms; work ware at toughweld.com; and western wear at countryoutfitter.com.
The company has been using Kiva robots in its distribution center since 2011.
The robots use lasers to distinguish items, pick up entire shelving units and drive them to workers who fill orders in a central location.
- John Magsam
State index slips 0.08 to close at 268.70
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slipped 0.08 on Friday to 268.70.
Winners and losers were almost evenly divided. Arkansas Best gained 4.5 percent on average volume. Tyson Foods lost 2.7 percent in heavy volume.
For the week, 11 stocks declined and five advanced. Windstream rose 5 percent for the week. Bank of the Ozarks fell 5.8 percent for the week.
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 27 on 04/06/2013