Tag Archives: Zeeland

Gentex Sales, Profits Rise

ZEELAND — Gentex Corp. (Nasdaq: GNTX), the Zeeland-based automotive and electronics manufacturer, reported net income of $97.6 million or 33 cents a share in the first quarter ended March 31, up from $80.3 million or 28 cents a share in the same quarter a year earlier.

Revenue was $453.5 million, up from $405.6 million a year earlier.

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Gentex Revenue Rises

ZEELAND — Gentex Corp. (Nasdaq: GNTX), the Zeeland-based manufacturer of automotive automatic-dimming rearview mirrors, automotive electronics, dimmable aircraft windows, and fire protection products, reported revenue of $419.9 million in the fourth quarter, up 4 percent from $405.6 million in the final quarter of 2015.

Net income for the quarter was $88.8 million or 31 cents a share, up from $88.4 million or 30 cents a share a year earlier.

For the full year, revenue was $1.68 billion, up from $1.54 billion in 2015. Net income for the full year was $347.6 million or $1.19 a year, up from $318.5 million or $1.08 a share in 2015.

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AT&T Brings Faster Network To More Of West Michigan

DETROIT — AT&T Inc. Friday announced it had activated an upgrade to bring faster speeds to more than 65 cell sites in Kent, Ottawa, Cass and Allegan counties and surrounding areas.

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Four Projects To Add 77 Jobs Get State Aid

LANSING — A business expansion project and three community revitalization projects will add 77 new jobs in Michigan amid $2.5 million in new investment in the state, the Michigan Economic Development Corp. announced Thursday.

In the business expansion, Cincinnati-based Total Quality Logistics LLC got a $300,000 Michigan Business Development Program grant to help it open a new shipping services center in Cascade Township near Grand Rapids, an $839,000 investment that will create 75 jobs.

Michigan was chosen over competing sites in multiple states. Cascade Township has offered support to the project in the form of expedited permitting.

Individuals interested in careers with Total Quality Logistics should visit http://www.tqljobs.com.

The company opened a Detroti office in February 2014.

The Michigan Strategic Fund also approved the following community improvement projects:

* The city of Davison has been awarded $153,556 in Community Development Block Grant funds for façade improvements for the Downtown Façade project in downtown Davison. The project will make improvements to three building facades, including masonry repair, window replacement and storefront reconstruction that will restore the historic features of the buildings and improve the entire downtown area. The project will generate private investment of $27,623. The city of Davison is supporting the project with $27,000 provided by the city’s Downtown Development Authority.

* The city of Leslie has been awarded $216,570 in Community Development Block Grant funds for façade improvements to three prominent buildings in downtown Leslie. The Leslie Façade Project will include historic renovations, masonry repair, window replacement and other repairs that will restore the buildings and help bring economic vibrancy to the downtown area. The project will generate private investment of $46,500. The Leslie Downtown Development Authority will contribute $32,000 toward the project.

* GL Rentals LLC will redevelop vacant property on Main Avenue in the city of Zeeland and construct a two-story mixed-use building that will include office space and residential units. The project will generate total capital investment of $1.5 million and create two jobs, resulting in a $325,000 Michigan Community Revitalization Program performance-based grant. The city of Zeeland has approved a 12-year property tax abatement valued at $50,000.

For more on the MEDC and its initiatives, visit michiganbusiness.org. Michigan residents interested in employment with any of Michigan’s growing companies should check mitalent.org, where more than 98,000 jobs are currently available in a variety of industries.

Vertellus Doubles Production At Zeeland Alkane Plant

INDIANAPOLIS — Vertellus, an Indianapolis-based chemical manufacturer, said Friday it had doubled production capacity of alkanes at its plant in Zeeland.

Alkanes are saturated hydrocarbons that occur naturally in petroleum and natural gas, and include methane, propane, ethane, and butane.

The company said it expects alkanes to be one of several innovative chemistries supplying a phase change material (PCM) market anticipated to exceed $100 million by 2020.

Phase change materials are substances that absorb and release thermal energy during the process of melting and freezing. The global PCM market is seeing rapid growth due to demand for eco-friendly, energy-saving materials in construction, heating and cooling, electronics, textiles, and other industries.

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