Expansion, hiring in NanoMech plans
NanoMech paid $1.05 million to purchase its existing 8,372-square-foot factory and has plans for future expansion on a nearby 7.3-acre tract in the Springdale Technology Park.
The planned expansion, which a news release says will triple the size of the nanotechnology firm’s manufacturing facility by summer 2014, will allow for the company to move beyond the research and development phase of its products. NanoMech Chief Executive Officer Jim Phillips said that the expansion will allow for the hiring of 25-50 new employees.
Additional details on land purchase and an estimated construction cost were not immediately available.
NanoMech filed a partial building permit request with Springdale on Wednesday, according to the building inspection office. Miller Boskus Lack Architects of Fayetteville handled the expansion design.
Founded in 2002 Nano-Mech produces products used in machining and manufacturing, lubrication and energy, and strategic military applications.
- Chris Bahn
Bank set to release 2 earnings reports
Home BancShares, owner of Conway-based Centennial Bank, will release its fourth-quarter and annual earnings today and hold a conference call to discuss the results.
Home BancShares’ conference call begins at 1 p.m. To listen to the call, dial (888) 317-6016 and ask for the Home BancShares call.
A replay of the call will be available by calling (877) 344-7529, and using pass code 10038852. The replay will be available until Jan. 24.
Internet access to the call will be available live or in recorded version on the company’s website at www.homebancshares.
com.
- David Smith
Arkansas Index up 4.06; 9 issues gain
The Arkansas Index,a price-weighted index that tracks the largest public companies based in the state, gained 4.06 to 331.13 Tuesday.
“U.S. stocks closed higher after better-thanexpected earnings from Bank of America and a good reading from the Empire Manufacturing Index,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index was higher as nine stocks advanced, seven declined and one remained unchanged.”
Shares of Deltic Timber gained 2.1 percent on average volume.
Shares of First Federal Bancshares lost 3.9 percent on typical trading volume.
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 01/16/2014