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Business Observer Friday, Jul. 9, 2010 11 years ago

Corporate Report: July 9 - July 15

The latest news from Alico, Gerdau Ameristeel, and more.

Alico names Atlanticblue Group executive

Dr. Ken Smith has joined LaBelle-based Alico Inc. as executive vice president and chief operating officer.

Smith has been consulting for the company since February.

Prior to joining Alico, Smith was vice president of agriculture operations for Atlanticblue Group Inc., a 51% shareholder of Alico. Before then, he was a consultant for major cattle operations across the country, including for Alico. He also held various management posts with Purina Mills Inc.

Also, Alico's board of directors has developed a compensation package for president and CEO JD Alexander, who has not been paid for his work as CEO since Feb. 23.

Alico owns 135,500 acres of land in Collier, Glades, Hendry, Lee and Polk counties and is involved in agricultural operations and real estate.

Hide-Away offers free mobile storage for home sellers

Sarasota's Hide-Away Storage is offering two free storage containers for up to three months to potential home sellers in Bradenton, Sarasota and Fort Myers.

Homeowners can bring a Realtor's listing to a company location to reserve the containers, which can then be delivered to houses.

Containers, which can each hold about a room and a half worth of furniture, can be stored in Hide-Away's air-conditioned mobile storage facilities in Sarasota or Fort Myers. The only charge during the first three months is a $69 delivery fee.

“It's a tough time to be selling, and 'de-cluttering' is the easiest way to make a home look more attractive,” Steve Wilson, managing partner for Hide-Away Storage, said in a press release.

Customers may keep the containers in storage for more than three months and pay the normal rent after 90 days. Containers can be redelivered for free upon request to the same location if the home has not been sold, or to a new home in Manatee, Sarasota or Lee counties.

Hide-Away Storage also operates 10 self-storage facilities in St. Petersburg, Ellenton, Bradenton, Sarasota, Ft. Myers, and Naples. Hide-Away delivers portable storage units in Pinellas, Manatee, Sarasota, Lee and Collier counties.

Gerdau Ameristeel, Gerdau S.A. reach acquisition agreement

Gerdau S.A. plans to acquire Tampa-based Gerdau Ameristeel Corp. at a price of $11 per share, which values the company's public shares at $1.6 billion.

The board of directors of Gerdau Ameristeel has unanimously approved the transaction.

A special meeting of shareholders to consider it will be held on Aug.10. The arrangement will require a two-thirds approval vote, and if successful, the acquisition will close in August.

Gerdau Ameristeel is the second largest mini-mill steel producer in North America, with annual manufacturing capacity of 10 million tons of mill-finished steel products. It operates a network of mini-mills, scrap recycling facilities and downstream operations.

Go Green Electronic Recycling buys Hernando facility

Clearwater-based Go Green Electronic Recycling expects to process more electronic equipment, including computers, from purchasing a new recycling center in Hernando County.

It also plans to expand its cell phone collection service to markets across North America.

The company, a subsidiary of US Wireless Online Inc., collects used and discarded electronic equipment for resale and reprocessing/recycling.

Port Manatee adds crane via partnership with Logistec

Port Manatee in Palmetto has acquired its second mobile harbor container crane via a partnership between Manatee County Port Authority and Logistec USA Inc.

Under the agreement's terms, Logistec bought the 420-ton device made by Gottwald Port Technology for $4 million. Once it is certified and operational (expected by late August), the Port Authority has 90 days to pay Logistec half of the purchase price, which will come from state transportation grants.

The crane will be titled to the Authority and capable of working at multiple locations. A profit-sharing plan will earn additional revenue for Port Manatee based on the crane's annual hours of operation.

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