Platt Electric Supply of Beaverton is being acquired by Rexel for $382 million.
France-based Rexel is one the U.S.’ largest electrical distributors through its subsidiaries Rexel Inc. and Gexpro. It operates close to 300 branches nationwide and provides services to the commercial, industrial and residential construction markets.
Platt President Jeff Baker, will add CEO of Platt Electric Supply to his title post-acquistion and will become a vice president of Rexel Inc.
The companies hope to close…
05/18/2012
Platt Electric acquired by Rexel for $382M
Platt Electric Supply of Beaverton is being acquired by Rexel for $382 million.
France-based Rexel is one the U.S.’ largest electrical distributors through its subsidiaries Rexel Inc. and Gexpro. It operates close to 300 branches nationwide and provides services to the commercial, industrial and residential construction markets.
Platt President Jeff Baker, will add CEO of Platt Electric Supply to his title post-acquistion and will become a vice president of Rexel Inc.
The companies hope to close…
05/18/2012
Schnitzer margin alert causes stock plunge
Schnitzer Steel Industries Inc. (Nasdaq: SCHN) lost nearly 19 percent of its stock value on Friday after warning investors that it expects to deliver disappointing third-quarter earnings.
The Portland-based company expects sales volumes to fall slightly for the quarter, which ends May 31. Combined with the higher costs it may pay for raw materials and freight, the factors could put pressure on the company’s margins. Schnitzer does not provide specific earnings guidance.
However, the company revealed…
05/18/2012
Regional stocks: Facebook IPO fails to rally investors
The much-anticipated Facebook IPO didn’t do much to lift the market on Friday.
The Dow Jones Industrial Average closed down 73.11 points to 12,369, the NASDAQ closed down 34.90 points to 2,778 and the S&P 500 closed down 9.64 points to 1,295.
The Davidson 99, which measures stocks in seven western states, including 19 in Oregon, closed down 1.63 points to 166.53.
Schnitzer Steel (NASDAQ: SCHN) posted the biggest drop among regional stocks after releasing a warning Thursday that high material costs…
05/18/2012
Pronghorn Resort to join Auberge family
Auberge Resorts will manage Pronghorn Golf Club & Resort in a deal that will make the Bend-area project one of the region’s first five-star destinations.
The Resort Group, a Honolulu-based investment group that acquired Pronghorn in February, signed a deal with Auberge this month to turn over management of the 48-suite lodge, restaurants and spas.
Pronghorn’s new partner brings a deep knowledge of running high-end destinations. Its portfolio includes resorts in California, Colorado, South Carolina…
05/18/2012
Metro to consider rapid bus lines to Gresham
The Metro Council, which oversees the area’s regional government, has agreed to take a closer look at a new Portland-to-Gresham transit corridor.
The Council agreed to examine whether a corridor running between, roughly, Portland State University and Mt. Hood Community College, on the east edge of Gresham could take shape over the next several decades.
The Powell-Division corridor study will look into whether the region could deploy “rapid transit” buses instead of far-costlier light-rail…
05/18/2012
Stumptown Coffee to roast greener beans
Stumptown Coffee Roasters and Energy Trust of Oregon are teaming up for one of the largest gas-savings projects the trust has ever funded.
As Sustainable Business Oregon reports, Stumptown, which is preparing to move from its original home to modern quarters in the central east side, will retire the high-temperature afterburner it uses to burn off particulates in the emissions from its coffee roaster.
05/18/2012
Software Association to move to Burnside Bridgehead
The Burnside Bridgehead project has landed another high-profile tenant.
The Software Association of Oregon will move into the project, along the Willamette River’s east bank immediately north of the Burnside Bridge, in mid-2013.
In the meantime, the group will sublease a portion of the Portland Development Commission building’s third floor, in Portland’s Old Town. The Association frequently works with PDC on matters related to the agency’s economic development cluster initiative. Software…
05/18/2012
The List: Largest Portland employers
Editor’s note: Each week, the Portland Business Journal compiles lists ranking local businesses by industry or topic. This post is just a teaser – subscribers can view complete lists in the latest issue, which include more businesses with contact information, local executives and other details.
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There have been dramatic changes in this year’s Business Journal list of Portland’s top 25 employers….
05/18/2012
GDiapers, Keen, New Seasons get kudos for being good
Good magazine released a list of 40 companies that its editors determined are making the world a better place. Portland has three of its companies on the list: gDiapers, Keen Footwear and New Seasons Market.
As Sustainable Business Oregon reports, companies were judged based on their core values including diversity, creativity, globalization, social responsibility, sustainability and innovation. The project was sponsored by IBM Corp.
05/18/2012
Intel outlines 2020 sustainability goals
Intel Corp. on Thursday said it plans to cut greenhouse gases by 10 percent per chip by 2020, while in the same time making notebook computers 25 times more efficient.
As Sustainable Business Oregon reports, those ambitions are among several new environmental goals the Santa Clara, Calif.-based chip-maker (NASDAQ: INTC) hopes to achieve by 2020.
