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Almanac
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Business New Haven
8/24/1998
By: BNH
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Another Newton, Another Idea:
The state's Department of Economic & Community Development and the Connecticut Development Authority have stepped in to finance capital improvements at the Newton-New Haven Co. of North Haven, a manufacturer of aluminum and zinc die-castings. The aid package will permit the company, which employs 152 workers, to acquire machinery and equipment to modernize and expand its production capability. Established in 1930 and now managed by a third generation of the Newton family, Newton-New Haven supplies distributors in Connecticut, New England and the Midwest. Its components are used in schools, hospitals and hotels.
Power Surge:
The Manufacturing Alliance of Connecticut (MAC) has partnered with Thermal Energies Inc. in a new venture to help companies save money on energy costs. The MAC Total Energy Concept, known as MAC-TEC, focuses on energy aggregation and management, allowing companies to pool their buying power and get customized energy management solutions. Says MAC Energy Counsel Jeff Gaudiosi, “We can put together a bid for the best natural gas prices, insure that all tax credits are being taken advantage of, determine if a company is on the right utility rate and help find more efficient ways to run their processes.” Information about MAC-TEC is available by calling 203-596-1900.
Bank of New Haven, We Hardly Knew
Ye: The Providence-based Citizens Financial Group Inc., parent of Citizens Bank, which last year bought the Bank of New Haven, announced August 14 that its own parent companies - the Royal Bank of Scotland Group and Bank of Ireland, have been in discussions regarding the possible acquisition by the Royal Bank Group of Bank of Ireland's 23.5-percent stake in Citizens. Bank of Ireland acquired its interest in Citizens in April 1996, when Citizens purchased First New Hampshire Bank from the Dublin-based financial institution. The shareholders agreement between the Royal Bank Group and Bank of Ireland provides the latter with an option for the former to acquire its shareholding interest. Citizens Financial is a $17.2 billion financial-services company with 280 branch offices doing business as Citizens Bank in Connecticut, Massachusetts, New Hampshire and Rhode Island.
Looking for a Few Good (Small) Men:
The Greater Valley Chamber of Commerce is accepting nominations for its fourth annual small-business awards. Presented to businesses with 50 or fewer employees which best exemplify the entrepreneurial spirit, the awards will be conferred October 15 at the Valley chamber's Business Expo & Small-Business Awards Ceremony. The chamber is looking for nominations in five categories: Small Business of the Year, Employer of the Year, Business To Business (local purchasing), Revitalization/Beautification and Environmental Awareness. For information or a nominating form, call 203-925-4981. Deadline is September 18.
New and/or Improved:
Rainbow Rentals has opened a new store in the Whalley Commons center at 1463 Whalley Avenue in New Haven. Rainbow rents brand-name TVs, stereos, VCRs, computers, major appliances and home furnishings. Based in Youngstown, O., the 12-year-old chain operates 67 stores in eight states...BKM Total Office has opened a new 1,500-square-foot showroom at 250 Church Street in New Haven, the company's fourth in the area. Headquartered in East Hartford, BKM sells Steelcase and Turnstone office furnishings and can as well provide custom woodworking, office furniture rentals, design and interior renovations, floor covering, warehouse storage, asset management, window treatments and, as they say, more...Home-care agency VNA Community Care, which has served the shoreline for 77 years, has changed its name to Shoreline VNA. Along with the name change the agency, with offices in Madison and Old Saybrook, says it plans to deliver services to a wider geographic area.
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