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| Sudbury tool company makes new appointments | | Methods Machine Tools Inc., a Sudbury maker of machine tools, accessories and other parts, has appointed a new president and board director. | | Read more >> | | Worcester health centers get $98K from MassDevelopment | | Both Worcester community health centers received just short of $50,000 each for capital improvement projects from MassDevelopment, the agency announced Thursday. | | Read more >> | | 10 things I know about... Public Wi-Fi | | Free public Wi-Fi connections are treated like a public utility, but they can be making you vulnerable to hackers. | | Read more >> | |
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| Week in review | |
| Tax break for Worcester | |
A new research-and-development building of at least 20,000 square feet will rise in the South Worcester Industrial Park, thanks to a 20-year tax break the project has received from the city.
The building is being developed by businessman Steven Rothschild, who already runs a similar center at 40 Jackson St. in the Ivy Corset Building.
| | Profits and losses | |
It was a busy week for earnings reports for local public companies.
In Worcester, The Hanover Insurance Group, Inc. reported itsfirst-quarter profits fell 42 percent to $45.2 million, even as revenue rose to $1.3 billion.Oxford laser product manufacturer IPG Photonics saw revenue grow by 38 percent in the first quarter and operating income jump by 45 percent.
ReWalk Robotics Ltd., a Marlborough manufacturer of robotic exoskeletons for those with spinal cord injuries, lost more than $6 million in its most recent quarter, despite a 21-percent increase in revenue. Framingham energy efficiency company Ameresco reported a record high total project backlog of $1.6 billion on Tuesday, in an earnings report that also revealed the company lost about $600,000 in its first quarter. And in Holliston,Harvard Bioscience, life science instrument company, lost more than $1 million in the first quarter as revenue fell from the prior year.
| | New appointments | |
Several area manufacturers announced new executives this week.
Thomas Kinisky, a 27-year veteran of Saint-Gobain, was named president and CEO of Saint-Gobain Corporation, the French manufacturer's North American holding company in Worcester. In Sudbury,Methods Machine Tools Inc., a maker of machine tools, accessories and other parts, has appointed a new president, Jerry Rex, and board director, the formerlongtime president Bryon Deysher.
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