Conway distributor to build new facility
A new distribution facility and parcels for commercial development are among the uses planned for a $1.8 million property purchased by the Douglas Cos. Inc. in Conway.
Douglas Cos., a privately owned distributor of convenience-store products in Arkansas, Texas, Louisiana and Oklahoma, has operated in Conway since 1978. Steve Douglas, who co-owns the business with his sister, Susie Munson, said Douglas Cos. had outgrown its existing facility.
No timetable has been set to replace the company's 60,000-square-foot distribution center, but Douglas said construction would be complete within 12-15 months of groundbreaking. Specific uses for the commercial parcels and details on the new distribution facility are "in the planning stages," Douglas said.
"We've been in our current location since about 1983 and have been at maximum capacity for two or three years," Douglas said. "This should allow us to bring on new business. With new business, typically it means more jobs."
Newmark Grubb Arkansas brokered the sale of the property once home to IC Bus LLC. Diamond State LLC, a sister company of Douglas Cos., formally made the purchase of the property. Douglas Cos. employs about 100 in Conway.
-- Chris Bahn
PSC to weigh bump in natural-gas rate
The Arkansas Public Service Commission will hear testimony on Thursday about a proposed settlement by SourceGas Arkansas Inc. to raise its natural-gas rates by 9.53 percent for its residential customers.
That means a SourceGas customer who had a bill of $100 last year will have a monthly bill of $109.53 with the same amount of gas used. The increase will go into effect no later than July.
SourceGas has about 154,000 customers, primarily in the northwest and northern portions of the state.
The proposed settlement calls for a $13.8 million increase in rates, lower than the original rate request, said John Bethel, executive director of the commission's general staff.
The commission's general staff has approved the settlement. The last general rate increase SourceGas received was in 2007, Bethel said.
-- David Smith
Index slides by 3.47 as 14 issues decline
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 3.47 to 335.49 Tuesday.
Fourteen stocks declined and three advanced.
Murphy USA had the best day, rising 0.8 percent in heavy trading.
USA Truck lost 2.6 percent in light trading, and ArcBest fell 2.6 percent on low volume.
Home BancShares dropped 2.5 percent on average volume.
Total volume of the index was 22.2 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 on 05/21/2014