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Archive for the 'Under contract' Category

ConEdison Solutions gets NYPA contract


ConEdison Solutions has been awarded a contract by the New York Power Authority to provide upgrades and services to the nation’s largest state-owned power utility, ConEdison Solutions said today.

Under the contract, granted through competitive bids, ConEdison Solutions will provide efficiency upgrades, including  lighting, motors and controls at NYPA plants in Westchester and New York City.

Services will include conducting feasibility studies, evaluating existing and proposed systems, developing designs, purchasing equipment, installation, supervision of installation and commissioning of equipment, said White Plains-based ConEdison Solutions, a subsidiary of Consolidated Edison Inc.

The amount of the contract will be based on costs associated with individual projects and has yet to be determined, said ConEdison Solutions spokeswoman Christine Nevin. However, the contract’s value is estimated to be in the “low millions,” she said.

Posted by David Schepp on Friday, August 1st, 2008 at 1:47 pm |
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Five businesses sign leases in Westchester


Mack-Cali Realty Corp. reports that five businesses have signed leases for a total of 117,719 square feet in Westchester County.

They are: AFP Imaging Corp., which renewed its lease for 10 years at its 48,000-square-foot offices at 250 Clearbrook Road in Elmsford; HQ Global Workplaces LLC, which renewed its lease on 22,000 square feet at 50 Main St. in White Plains; Con-Way Freight Inc., which renewed its lease on a 22,100-square-foot warehouse at 6 Warehouse Lane in Elmsford; EquiSearch Services Inc, which signed a new five-year lease for a 13,810-square-foot office at 555 Taxter Road in Elmsford; and JBG Health Facilities, an affiliate of the Jewish Guild for the Blind, which signed a new seven-year lease for 12,000 square feet at 4 Executive Plaza in Yonkers.

Posted by David Schepp on Wednesday, July 30th, 2008 at 5:25 pm |
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Four Nutrition 21 products to be in Walgreens


Nutrition 21 Inc. of Purchase said four of its products will be available in Walgreens stores.

The nutritional supplements include three products for the Finest Natural retail brand and one for the Walgreens Gold Seal Private Label. The products will be available by early fall.

Nutrition 21 markets supplements that help people manage their blood sugar levels, improve their cardiovascular health, enhance memory and ease joint pain.

Walgreens has 6,300 stores in 49 states.

Posted by Allan Drury on Tuesday, July 22nd, 2008 at 11:53 am |
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Barr reaches licensing deal with Bayer


Barr Pharmaceuticals Inc. of Montvale, N.J., with research and manufacturing operations in Pomona, said it has a deal to market and distribute generic versions of Bayer’s Yasmin and Yaz oral contraceptives in the United States. Bayer will provide the drugs to Barr before the patents expire, and Barr will sell them under the Barr Laboratories label. Barr said the deal allows the company to launch its own authorized generic versions of the drugs years before the patent expirations. Yasmin had reported sales of $575 million in the 12 months ending in April, while Yaz had sales of $384 million in that period.

Posted by Jerry Gleeson on Tuesday, June 24th, 2008 at 5:12 pm |
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Investor delays stake in Debt Resolve


Debt Resolve Inc. of White Plains said it’s prepared to hold a potential investor to an agreement to buy $7 million in the company’s stock after the investor said it needs more time to complete the deal.
Harmonie International LLC reconfirmed its intent to buy the stake in Debt Resolve under a deal dated March 31, Debt Resolve said. A date for concluding the deal was not announced.
“While Harmonie has reconfirmed, they have offered no real specific proof of their ability to perform, and, accordingly, we cannot continue to grant formal extensions,” Debt Resolve Chief Executive Officer Ken Montgomery said in a statement. “We hope they will fund in a short period of time but we must will protect our company, which includes an action for specific performance and damages if they do not.”
Debt Resolve runs an online consumer debt settlement service. Its stock closed at $1.09 a share, down 23 cents.
The company said Harmonie CEO William Donahue sent them a letter dated Monday that said, in part, “Even though the economic climate has greatly affected our ability to rely on the primary institutions that generate our investment revenue, we believe the alternative sources meticulously put together will allow Harmonie to continue its investment” in Debt Resolve.

Posted by Jerry Gleeson on Tuesday, June 24th, 2008 at 4:59 pm |
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ITT Corp. lands $1M pact with Indian Railways


ITT Corp. reported today that its Energy Absorption unit received a $1 million order to supply Indian Railways with more than 3,000 dampers and shock absorbers for rail cars on four Indian rail lines.

Considerable expansion of India’s rail system has prompted the rail companies to invest in parts, infrastructure and technology, the White Plains-based conglomerate said.

The company operates in India through its ITT India subsidiary, it said.

Posted by David Schepp on Thursday, June 19th, 2008 at 3:55 pm |
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Par Pharma acquires rights to thin-film drug technology


Strativa Pharmaceuticals, the branded drug unit of Par Pharmaceuticals Cos., which employs some 440 workers in Rockland County, has acquired the U.S. rights to a thin-film formulation of an anti-emetic drug, known as Ondansetron, for use by cancer patients.

Anti-emetics are drugs the prevent nausea and vomiting, frequent side effects of radiation and chemotherapy. The drug, should it make it to market, would resemble breath strips, postage stamp-sized films that dissolve in the mouth.

Terms of the deal with Warren, N.J.-based MonoSol Rx, the developer of the thin-film technology, weren’t disclosed, but milestone payments to MonoSol could reach $23.5 million, the companies said.

U.S. sales of anti-emetics reached more than $1.6 billion last year, Par said.

Par, based in Woodcliff Lake, N.J., previously secured rights to Ondansetron for use as an oral spray, currently in development.

MonoSol said it is moving quickly to trials of the thin-film version with the hope of filing a new drug application with U.S. regulators within a year.

Posted by David Schepp on Tuesday, June 17th, 2008 at 4:41 pm |
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IBM awarded $324 million contract


IBM Corp. has been awarded a $324 million contract to provide human resources services to drug giant Bristol-Myers Squibb.

Under the 10-year contract, IBM will offer compensation, benefits, recruiting, learning, payroll administration, call center support and related information technology services to the company.

Bristol-Myers Squibb, based in New York City, has 41,000 employees worldwide. The company reported sales of $19.3 billion last year.

IBM’s services will support Bristol-Myers Squibb’s operations in the United States, Puerto Rico, the United Kingdom, Ireland, France, Germany, Italy, Spain and Belgium. There also will be limited services to 40 additional countries in Asia Pacific, Europe and the Americas.

“Dynamic change in the pharmaceutical industry is forcing companies to become more streamlined in their operations,” Philip Guido, IBM general manager of managed business processing services for the Americas, said in a written statement. “In order to manage talent within an organization, a company must have an integrated view into its employee population and workforce data.”

Posted by Jay Loomis on Thursday, June 5th, 2008 at 11:23 am |
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Emerging Health Information Technology of Yonkers said yesterday it has been awarded a contract to provide Medicaid eligibility verification, service authorization, claims scrubbing and validation, and payment analysis to Jewish Home Lifecare.
Terms of the contract were not disclosed. Emerging Health is a subsidiary of Montefiore Medical Center.

Posted by Jerry Gleeson on Monday, May 19th, 2008 at 3:03 pm |


Prudential Rand buys White Plains real-estate firm


Prudential Rand Realty has agreed to acquire Nelson Vrooman Real Estate, a White Plains-based firm established more than 50 years ago that has become victim of the downturn in home sales in the Lower Hudson Valley.

“This is a very competitive market, and I knew that the best way to serve my clients and associates was to join a bigger team with more resources,” said Bill Vrooman, Nelson Vrooman founder and chief executive.

Vrooman, along with Nelson Vrooman President Mike Graessle, will join Prudential Rand as associate brokers, Prudential Rand said.

The deal, the terms of which weren’t disclosed, makes Prudential Rand the largest real-estate firm in White Plains, the New City-based company said.

As part of the transaction, Nelson Vrooman’s offices at 709 Westchester Ave. will close and combine with those of Prudential Rand at 1 N. Broadway.

The deal will also result in the transfer of 20 Nelson Vrooman workers to Prudential Rand, which has 20 offices in the Hudson Valley.

Posted by David Schepp on Monday, May 12th, 2008 at 10:56 am |
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IBM buys Mass. software company


IBM Corp. acquired Diligent Technologies Corp., a Framingham, Mass., technology company, the Armonk-based computing giant said today.

Terms of the deal weren’t disclosed.

Diligent, which has operations in Tel Aviv, Israel, develops “de-duplication” software that helps organizations reduce the amount and cost of of physical storage needed in data centers. Diligent will be folded into Armonk-based IBM’s System Storage business unit, Big Blue said.

Separately, IBM said it signed a $2.8 billion agreement with Cetelem, a subsidiary of French banking giant BNP-Paribas, to upgrade Cetelem’s consumer financial services operations in Argentina.

Posted by David Schepp on Friday, April 18th, 2008 at 2:45 pm |
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HomeGoods to open first Rockland store


HomeGoods, a discount home-furnishings retailer, plans to open its first Rockland outlet in Nanuet, according to Metro Commercial, a commercial real-estate firm.

HomeGoods signed a lease to occupy the bulk of the space Office Depot once occupied in the Rockland Center shopping center at Route 59 and Smith Street, said Metro Commercial, which represented the landlord, American Continental Properties, in the transaction.

Plans call for the 25,077-square-foot store to open this summer. HomeGoods is a unit of TJX Cos., which also operates TJMaxx, Marshall’s and other stores.

HomeGoods has three existing Lower Hudson Valley stores, in Yonkers, New Rochelle and Somers.

Posted by David Schepp on Thursday, April 17th, 2008 at 11:52 am |
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General Patent licenses patent to LG


General Patent Corporation International said today it has licensed a cell-phone patent to LG Electronics Inc., the South Korean maker of consumer electronics, including cell phones.

The license gives LG non-exclusive rights to technology to improve communications between cell-phone transmitters and handsets, as well as devices, such as Bluetooth wireless headsets.

The patent is held by a sister company of General Patent, Digital Technology Licensing LLC, both of which are based in Montebello Park in Suffern.

Posted by David Schepp on Wednesday, April 16th, 2008 at 1:01 pm |
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Starwood Hotels enters $375M loan pact


Starwood Hotels & Resorts Worldwide Inc. has entered into a $375 million loan agreement with various lenders as part of an amended credit agreement, the hotelier disclosed in a regulatory filing today.

Proceeds from the loan will be used to repay debt, to pay fees and expenses related to the repayment and for general corporate purposes, the White Plains-based company said.

Posted by David Schepp on Tuesday, April 15th, 2008 at 4:27 pm |
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ON2 Technologies inks deal with Eurosport


ON2 Technologies Inc. has signed an agreement to share its video encoding and publishing technology with European sports satellite and cable network Eurosport, the Greenburgh-based company said today.

Terms of the deal weren’t disclosed.

ON2’s Flix Engine technology will allow Eurosport to provide high-quality programming through its various Web sites to viewers with slower connection speeds and less powerful computers, ON2 said.

Eurosport programs include major sports events such as the Australian, French and U.S. Open tennis tournaments, the Olympic games and major cycling events, such as Le Tour de France.

Shares on ON2, traded on the American Stock Exchange, were lower in afternoon trading, off 3 cents to 88 cents each.

Posted by David Schepp on Monday, April 14th, 2008 at 1:28 pm |
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Nutrition 21 director holds note


Mark Stenberg, the newest member of the board of directors of Nutrition 21 Inc. of Purchase, has a three-year employment agreement as senior vice president and holds a 5 percent secured note on the company for $1.25 million, Nutrition 21 said in a filing with the Securities and Exchange Commission.
Stenberg was chief executive officer and owner of 50 percent of Iceland Health, a nutritional supplement marketer that Nutrition 21 bought in August 2006. In the filing this week, the company said it paid Stenberg $500,000 cash and 4.75 million shares of stock, in addition to the note, for his interest in Iceland Health.
As of Monday, accrued interest on the note was $102,000. The note and interest are due in August 2009. Stenberg also qualifies for up to $1.25 million in additional payments if certain sales benchmarks are reached.
Stenberg’s base salary is $225,000, plus a possible bonus. His employment contract ends on Aug. 25, 2009.

Posted by Jerry Gleeson on Wednesday, April 9th, 2008 at 3:52 pm |
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Presidential Realty changes accountants


Presidential Realty Corp. of White Plains said it dropped Deloitte & Touche LLP as its accounting firm on April 2 and hired Holtz Rubenstein Reminick LLC for financial and other considerations.
Deloitte & Touche had no adverse opinions on the company’s finances over the last two years. It did have one observation on the fiscal 2007, however; it said that it had not audited the financial statements of four limited liability companies related to Presidential Realty, but relied on audits of those statements by other auditors.

Posted by Jerry Gleeson on Wednesday, April 9th, 2008 at 2:19 pm |
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IBM lands credit-union contract


Coastal Federal Credit Union of Raleigh, N.C., agreed to a five-year contract that calls for IBM Corp. to provide mortgage loan fulfillment services. As part of the agreement, Armonk-based IBM will provide Coastal with a range of lending services, including loan application processing, underwriting, vendor management and document preparation. Coastal has 172,000 members and nearly $2 billion in assets at the credit union. Financial details of the contract were not disclosed.

Posted by Jay Loomis on Tuesday, April 1st, 2008 at 12:51 pm |
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Local companies win bids for prison, hospital projects


Two Lower Hudson Valley businesses were among those that have been awarded state contracts for construction projects in Rockland and Westchester counties, the New York State Office of General Services said today.

Rockland Electric of Nanuet submitted the lowest bid for work on the transformer room building no. 39 at the Nathan Kline Research Institute in Orangeburg, the agency said. The firm’s $22,800 was the lowest bid among six firms. DDC Air Conditioning of Teterboro, N.J., submitted a $178,750 winning bid to perform heating and ventilation services at the institute, beating out seven other firms.

Empire Mechanical Services Inc. of Yonkers was the apparent low bidder out of seven firms to perform heating and ventilation work for expansion of building no. 113, basement, lobby/draft area at Bedford Hills Correctional Facility in Bedford Hills, OGS said. Empire’s winning bid was $136,634.

Two other firms, JTS Construction of Dutchess Inc. in Pawling and J.H.S. Electric Services Inc. of Bellmore, will receive contracts for construction and electrical work at the prison.

JTS Construction’s $284,760 bid was the lowest among 10 firms, while J.H.S. Electric’s $186,019 bid was the cheapest of three bids, the agency said.

Posted by David Schepp on Thursday, March 13th, 2008 at 3:35 pm |
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IBM buys California software firm


IBM Corp. agreed to acquire Encentuate Inc., a privately held maker of authentification software, based in Redwood City, Calif., IBM said today.

Terms of the deal weren’t disclosed.

The Armonk-based computing giant also said it was forming a new lab in Singapore, incorporating Encentuate’s development team there, to better serve IBM clients in Asia and elsewhere.

Posted by David Schepp on Wednesday, March 12th, 2008 at 5:24 pm |
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.


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