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Corporate Report: May 20


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  • | 6:48 a.m. May 20, 2011
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Six L's Packing recalls tomato shipment
Immokalee-based Six L's Packing Co. Inc. has voluntarily recalled a single lot of grape tomatoes because of potential Salmonella contamination.

Salmonella is a bacteria that can cause serious and sometimes fatal infections. The strain of Salmonella has not been determined and no illnesses have been reported.

The specific lot was packed April 11 and was comprised of grape tomatoes that can be identified by Cherry Berry lot code DW-H. The product was distributed to North Carolina, South Carolina, Alabama, Florida, New Jersey, New York, Michigan, Pennsylvania, California, Georgia and Canada.

The contamination was detected through a random sample obtained by the USDA at a distributor in New York. The product is from a farm in Estero, which has since ceased production of grape tomatoes.

Six L's Packing is the largest single-company tomato grower/packer/shipper in the state of Florida, and one of the largest in the country, commanding 12% of the Florida market for the past several years. Since 1986 the company has packed an average volume of more than 15 million boxes of tomatoes a year.

Edison National Bank promotes Salustro to COO
Joan Salustro, senior vice president of Fort Myers-based Edison National Bank, has been promoted to chief operations officer. Salustro will also continue her duties as security officer and as compliance and risk management officer for Edison National Bank.

As chief operations officer she will manage and oversee all facets of the bank's operations and information systems areas.

Salustro began her banking career in 1979 as a teller. She joined Edison National Bank in 2004.

Harvey Software Inc., hires former UPS exec as COO
Dan Turbeville has joined Harvey Software Inc. of Fort Myers as chief operating officer. Turbeville previously had a 34-year career at United Parcel Service of America Inc. His various positions with UPS included corporate strategy and program management group director, corporate strategy & retail technology group director, product manager and corporate manager for the customer automation group.

“Prior to his new position, Dan was instrumental in providing consultative services to Harvey Software in the development of a new business plan, which we believe will take Harvey Software to new heights,” Bert Hamilton, Harvey Software founder and CEO, says in a press release.

Harvey Software has provided shipping software solutions since 1983.

First National Bank of the Gulf Coast receives $40 million capital
Naples-based First National Bank of the Gulf Coast has completed the closing of an initial infusion of $40 million in capital from private investors.

The capital will be used to fund growth along the west coast of Florida.

The previously announced agreements with private investors called for a total private placement of $148 million. The remaining $108 million will be used, subject to future regulatory approval, to fund other expansion opportunities within the Florida market. These opportunities include bidding on failed bank acquisitions through the Federal Deposit Insurance Corp. and strategic bank acquisitions along the west coast of Florida.

“We are delighted to receive these initial proceeds, which will be used to support organic bank growth opportunities in Collier, Lee and Charlotte counties and the opening of loan production offices in Sarasota and Tampa,” Gary Tice, chairman and CEO of First National Bank of the Gulf Coast, says in a press release. “Our management team has a proven track record in Florida, and we believe that the market conditions are right for an independent community bank seeking to expand.”

First National Bank of the Gulf Coast currently has three full-service banking offices in Collier and Lee counties. As of March 31, the firm had total assets of $329.4 million.

K.Tek Systems Inc. hires new COO
Clearwater-based K.Tek Systems Inc. has appointed Jim McGauley as its new chief operating officer.

McGauley will be responsible for the global operation of K.Tek International, a holding company for 17 companies, including K.Tek Systems Inc.

Graduating from Pace University in 1993, McGauley started his career selling microchips for a large electronic components distribution company, eventually becoming senior operations manager. Later McGauley worked as the senior project manager for an IT services and business consulting company.

“His vast knowledge of logistics, management, operations and business best practices as well as his extensive technical skills make him the ultimate champion for understanding our clients and how we can translate our expertise to exceed their expectations,” Kimberly During, CEO of K.Tek International/K.Tek Systems Inc., says in a press release.

Walter Energy leases reserves from Chevron sub-company
Tampa-based Walter Energy has executed mineral leases for 75 million tons of recoverable Blue Creek coking coal reserves in Tuscaloosa County, Ala., from a subsidiary of Chevron Corp.

Walter Energy officials say the deal includes royalty rates consistent with existing coal lease agreements.

“We are happy with the opportunities these leases present to grow our reserve base and expand our footprint in Alabama,” Keith Calder, CEO of Walter Energy, says in a press release. “These reserves are an integral portion of the last remaining block of Blue Creek coal reserves and pave the way for a strategic opportunity to assemble approximately 170 million tons of high quality coking coal reserves for the development of a new underground long wall coking coal mine.”

Walter Energy also announced the completion of Jim Walter Resources' acquisition of Chevron's North River steam coal mine in Fayette County and Tuscaloosa County, Ala. The purchase required a small cash payment and the assumption of certain liabilities.

“The North River steam coal mine has approximately three years of production remaining, all of which is under contract to local utilities,” Calder says in a press release. “Importantly, the operation has approximately 350 skilled and experienced miners, whom we'll be very happy to welcome into the Walter Energy Alabama team.”

Chico's developing POD center on Georgia campus
Fort Myers-based Chico's FAS Inc. announced plans to build a new Performance Optimized Data center (POD center) in Barrow County, Ga. POD technology, often referred to as “data center in a box,” employs modular pre-fabricated reinforced steel containers, roughly the size of a train freight car, to house and efficiently cool vital information technology hardware. The new configuration will nearly double Chico's current computing capacity, requiring half the space in a structure that is more secure, can be easily expanded and lessens the risk of weather-related service disruptions.

The new POD center will be located on Chico's campus in Winder, Ga., where the company first located its retail distribution center in 2002. Expansion of those facilities followed in 2004 and 2006, including the opening of a customer call center to handle direct-to-consumer orders for the company's three retail brands, Chico's, White House | Black Market and Soma Intimates.

In 2009, Chico FAS further expanded its facilities in Winder with the purchase of the former Hagemeyer building, including 39 acres, on Barrow Industrial Parkway. This acquisition, combined with the existing distribution and call center, gave the company a total of 583,000 square feet on a combined 110 acres for the corporation's distribution and fulfillment operations, and soon its POD center.

“The locating of the new POD center within the Winder facilities further demonstrates our commitment to expanding our Barrow County assets in support of the strategies leading to future global business growth,” says Kent Kleeberger, Chico's FAS executive vice president, chief operating officer and chief financial officer, in a press release.

The company is a women's specialty retailer of private branded clothing, intimates, accessories, and other non-clothing gift items. It operates 1,184 specialty stores, including stores in 48 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

SinoFresh HealthCare board approves reverse stock split
The board of directors of Venice-based SinoFresh HealthCare Inc. has approved a one-for-1,000 reverse stock split for its common stock. The split is for shareholders as of May 20 and is effective on May 23 or soon after its approved by the Financial Industry Regulatory Authority.

The board of directors and senior management say the split will significantly reduce the company's ongoing expense and administrative burden.

According to Google Finance, SinoFresh had 3.23 billion shares of outstanding stock in play prior to the board's decision, and a market capitalization of $3.55 million. Once the split is complete, the company will have 3.23 million shares in the market, which will increase the price of each individual share to about $1.

As a result of the reverse split, all remaining fractional shares will be dissolved.

The company says it is also moving forward with a financial audit needed to bring the company's filings current.

SinoFresh HealthCare manufactures and distributes nasal, oral and topical antiseptic germ-killing products.

Roper Industries buying Northern Digital Inc.
Sarasota-based Roper Industries Inc. has signed a definitive agreement to acquire Northern Digital Inc., a Waterloo, Ontario, Canada-based provider of 3-D measurement technology for medical applications.

Northern Digital will become part of Roper's medical platform.

The Canadian company creates optical and electromagnetic measurement systems for medical and industrial applications, a critical technology particularly for computer-assisted surgery, computer-assisted therapy and image-guided radiation treatment. In addition, the company's technology is used by manufacturers for optical tracking and non-contact 3-D measurements.

“Northern Digital is an excellent addition to our medical platform, joining Verathon and CIVCO Medical Solutions with technology and applications to improve patient outcomes while increasing productivity for doctors and hospitals,” Brian Jellison, Roper's chairman, president and CEO, says in a press release.

Northern Digital's management team, under the leadership of Jamie Fraser, will continue to lead the business as part of Roper.

The deal is expected to close in June.

Roper Industries provides engineered products and solutions for global niche markets, including water, energy, transportation, medical, education and SaaS-based information networks.

Lazydays plans opening in Arizona
Tampa-based RV dealer Lazydays is taking steps to enter the Arizona market. The company purchased an RV dealership formerly owned and occupied by Beaudry RV in Tucson, Ariz.

Having closed on the property, Lazydays officials have started work to obtain the necessary business permits to operate the dealerships. The company also plans to do a thorough review and inspection of the property to solidify what changes it needs to make to the site. It expects to open campground and service facilities in mid-summer and to be ready to sell RVs a short while later.

“This is an exciting day for Lazydays,” says John Horton, president and CEO. “We've worked very hard to build a reputation and a culture geared toward an unparalleled customer experience, and we're very enthusiastic about bringing that experience to RVers in a new market.”

 

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