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Corporate Report: August 3

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  • | 8:35 p.m. August 3, 2012
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Roper Industries' TransCore receives Texas toll contract
The Texas Department of Transportation awarded TransCore, a unit of Sarasota-based Roper Industries, a contract for the integration and maintenance of the Texas statewide toll systems.

The contract is to develop, install, integrate, test and maintain all of the toll systems' new open-road tolling and cash-collection systems deployed throughout the state and maintain all existing operations.

Harrisburg, Pa.-based TransCore was reportedly selected based on its proposed solution, technology, qualifications and price.

TransCore currently oversees the maintenance and operations of more than 30 individual toll collection systems across the country, making it the largest single provider of toll maintenance services in the United States. It has installations in 46 countries.

Naples Soap Co. reaches deal with Kameyama Candle House
Naples Soap Co. has finalized an exclusive marketing and distribution agreement with the Kameyama Candle House. The deal will secure retail placement of Naples Soap's all-natural and organic bath and skincare products throughout Japan.

Japan is the world's largest per capita consumer of skin care products.

Officials for Naples Soap say the timing of the rollout coincides with signs that consumer spending is helping to fuel a rebound in Japan's economy.

Founded in 1927, Kameyama Candle House, Japan's largest domestic candle manufacturer, is positioning Naples Soap Co. as a cornerstone brand for its five candle houses, as well as the national launch of more than 20 store-within-a-store locations through 2013.

“We are thrilled to be offering our all-natural bath and skincare products to the people of Japan,” Deanna Renda, founder and CEO of Naples Soap Company, says in a release. “We could not have chosen a more revered company than Kameyama Candle House to partner with on this endeavor.”

St. Petersburg's ALPS South wins patent infringement suit
St. Petersburg-based ALPS South LLC won a recent federal patent infringement court trial against Ohio Willow Wood Co. Ron Christaldi of Shumaker, Loop & Kendrick LLP represented ALPS South LLC. The lawsuit, filed in 2008, began a four-year medical device patent infringement battle between the two competitors.

The jury found that Ohio Willow Wood made 13 products that infringe ALPS' patent and awarded ALPS just less than $4 million in damages. The jury also found that the infringement was willful, which permits the judge to consider enhancing the damage award up to three times the jury-awarded amount. Based on the verdict, ALPS is seeking an injunction against future infringement, which could result in as much as $20 million annually to ALPS.

“This victory obviously has significant ramifications for ALPS, but it also could have a remarkably positive economic impact in Tampa Bay,” Christaldi says.

ALPS develops and manufactures advanced gel-based products for prosthetics, orthotics, silicone and patient care uses.

Christaldi is the chair of the health care practice group of the Tampa office of Shumaker, Loop & Kendrick.

United Insurance Holdings adopts poison pill shareholder plan
The board of directors of St. Petersburg-based United Insurance Holdings Corp. has adopted a shareholder rights agreement as a poison pill against an unwelcome acquisition.

The board declared a dividend of one preferred share option for each outstanding share of the company's common stock. If a person or company acquires 20% of the company's stock and the board invokes the plan, then every other shareholder may, for $27, purchase shares of United's common stock with a market value of $54.

If the company is acquired or merged the non-acquiring shareholders are entitled to acquire $54 worth of the acquiring company's stock for $27.

“The rights are designed to enable all United shareholders to realize the full long-term value of their investment and to provide for fair and equal treatment of all shareholders in the event that an unsolicited or unfair attempt is made to acquire United,” the company wrote in a press release.

Dais Analytic shareholder finances debt repayment
Tampa-based Dais Analytic Corp. has obtained $2 million in financing from a longtime shareholder of the company. The proceeds were used to repay an outstanding secured promissory note held by Platinum-Montaur Life Sciences LLC, and the remainder was used for the company's working capital needs.

Walter Investment Management grows credit line by $45 million
Walter Investment Management Corp. of Tampa completed an amendment to its line of credit, which increased the line by $45 million to $90 million. The revolving line of credit is used to fund the company's working capital needs.

Walter Investment Management Corp. is an asset manager, mortgage servicer and mortgage portfolio owner specializing in less-than-prime, non-conforming and other credit-challenged mortgage assets.

Burger 21 franchise opening New Jersey location
Burger 21, a new restaurant concept from the owners of The Melting Pot Restaurants Inc., has signed a franchise deal to open a new restaurant in Voorhees, N.J. The new location is scheduled to open in spring 2013.

Following the opening, the burger franchise will have a total of 10 units.

As a current franchisee of Burger 21's affiliate concept, The Melting Pot, Charlie Haney, along with business partners Curt Wunder and Mike Astuto, decided to expand upon their portfolio. Haney became a Melting Pot franchisee in Atlantic City in 2006 and was named the “Melting Pot Franchisee of the Year” in 2010.

“Charlie and his team are tremendous ambassadors of The Melting Pot brand, and we strongly believe the same attributes that make them successful with The Melting Pot will position them for success with our new better burger franchise concept, Burger 21,” Dan Stone, vice president of franchise development for Front Burner Brands, which manages both brands, says in a press release.

Since February, the burger franchise has signed four agreements to develop a total of six franchised units in the Atlanta, Orlando, and Voorhees, N.J. That is in addition to the development of two more corporate-owned locations in the Tampa Bay area for a total of 10 franchised and company-owned units.


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