Tuesday, January 29, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Tue. Jan. 29, 2013
 
MassHousing closes $1.9m for 24 affordable housing units in Tyngsborough
MassHousing, the state’s affordable housing bank, said that it has closed on $1.9 million in loans for 24 newly constructed affordable units at the Maple Ridge Apartments in Tyngsborough, bringing to 96 the number of affordable apartments at the location. Dakota Partners Inc. of Waltham developed Maple Ridge on the site of a vacant lot. The architect was LaFreniere Architects of Cambridge, and the management agent is WinnResidential of Boston.
Feds approve A123 purchase by Chinese firm
A Chinese company said Tuesday it has won approval from a federal panel to acquire nearly all the assets of Waltham battery maker A123 Systems Inc., removing the biggest hurdle to closing the deal. Wanxiang America Corp. said it was notified Monday that the Committee on Foreign Investment in the United States, or CFIUS, had approved its purchase of A123. CFIUS is a secretive federal panel that scrutinizes foreign acquisitions of American businesses to protect national security.
Massachusetts Life Sciences Center hails commercial launch of a new surgical gel
The Massachusetts Life Sciences Center said it is marking the commercial launch of a product developed by a small local company that was a recipient of an investment from the center’s Accelerator Loan Program. The center is a quasi-public agency of the Commonwealth of Massachusetts that supports local companies in the industry. About four years ago, the center gave a loan to a company called Pluromed, which was working on a biopolymer gel that allows surgeons to temporarily stop blood flow during surgery.
State Street Investor Confidence Index rises 5.4 points in January
The State Street Investor Confidence Index posted an 86.8 reading in January, up from a revised reading of 81.4 in December, State Street Global Markets said Tuesday. The index seeks to measure investor confidence or risk appetite quantitatively by analyzing the actual buying and selling patterns of institutional investors.
Boston Scientific plans job cuts, 4Q profit falls
Boston Scientific plans to cut as many as 1,000 additional jobs this year as the medical device maker expands a push to reduce operating expenses. The Natick company hasn’t decided where additional cuts will be made, said spokesman Steven Campanini. Boston Scientific Corp. had already planned 1,200 to 1,400 job cuts as part of a restructuring plan that started in 2011. It employs roughly 24,000 people worldwide, so total cuts could amount to 10 percent of the company’s jobs.
Ambitious European power project to use AMSC high-temp superconductor wire
AMSC, a Devens technology company that makes components for wind energy and power grid companies, said Tuesday that it is supplying high temperature superconductor wire for an ambitious project in Germany that seeks better ways to distribute electricity in major cities. The project in Essen, Germany, is called AmpaCity, and it looks to replace the existing distribution system with new technology. Plans call for AMSC’s wire to be used in a surge protector needed to connect the new system to the power grid.
Fifth Johnny Rockets restaurant opens in Massachusetts
Johnny Rockets, a chain that celebrates hamburger cuisine, said it has opened a restaurant in Acton. The California-based chain said it now has five restaurants in Massachusetts, including locations at Burlington Mall, Logan International Airport, Six Flags New England, and South Shore Plaza. Worldwide, there are nearly 300 Johnny Rockets restaurants, and several cruise ships feature a Johnny Rockets on board.
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