Lexington-based BC Wood Properties has been named one of the Top 100 retail real estate owners in the nation by Retail Traffic Magazine. The company was the only Kentucky company to be included in the listing. Company CEO Brian Wood said that despite the sluggish economy, the company is well positioned to continue acquisitions in its niche of buying older shopping centers and reconditioning them by freshening up the look and adding new tenants. BC Wood Properties owns and manages 29 shopping centers in Kentucky, Tennessee and Indiana that total more than 3.9 million s.f.
Lexington-based Transposagen Biopharmaceuticals, a company that creates unique genetically modified rat models used for drug discovery and development research, has entered into an agreement with Trans Genic Inc. to market Transposagen’s products in Japan. Trans Genic, which is headquartered in Kumamoto, Japan, is a leader in Japan in the development and distribution of genetically engineered laboratory animals.
Mersive Technologies has closed on a $4.6 million Series B round of venture capital financing that will fund the company’s development and expansion of multi-projector alignment solutions and support the company’s work in large, high-resolution display technology. Hopewell Ventures served as the lead investor in the round with a $4 million commitment, and was joined by existing investors Adena Ventures, the Kentucky Science & Technology Corporation and the Bluegrass Angels Venture Fund. Mersive completed a Series A seed capital financing in July 2006.
As part of an ongoing plan to consolidate manufacturing capacity and reduce costs and expenses worldwide, Lexmark has announced additional restructuring actions that include closing an inkjet cartridge manufacturing facility in Juárez, Mexico. The most recent restructuring measures will affect a total of 360 jobs, with 270 of those coming from the Juárez plant. Lexmark expects to see a savings of more than $5 million in 2009 and more than $20 million in 2010 as a result of the restructuring. The company hopes to see those savings help its overall financial picture, which has suffered as weak global economic conditions have affected demand for both printer hardware and supplies. Lexmark’s revenue for the first quarter of 2009 was down 20 percent over the same period last year.