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BIRCH AND
IONEX UNVEIL MERGER PLANS
Birch Telecom Inc. and Ionex Telecom Inc. have unveiled plans to
merge. The combined company will serve more than 500,000 telephone
lines, heavily concentrated in Kansas, Missouri, Oklahoma and Texas,
and is expected to generate $350 million in annual revenues. The
combination draws on the strength of Birch as a local and long-distance
telephone service provider and Ionex as an Integrated Communications
Provider serving the voice and data needs of small- to medium-sized
businesses.
DAVE
SCOTT
president & CEO,
Birch |
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The company is planning to adopt the Birch Telecom name. David Scott,
current president and CEO of Birch, has been named CEO of the new
company. Rick Pontin, CEO of Ionex, will join Scott in the integration
of the companies’ operations.
An investment group, which includes the major backer of Ionex, Gilbert
Global Equity Partners, AEA Investors, Veronis Suhler Stevenson
LLC and Texas Growth Fund, will provide more than $40 million in
equity funding, supporting the plans to bring new customers into
the company’s network.
The merger, which requires regulatory approvals, is expected to
close early in the second quarter of 2003.
DUPONT AND BUNGE ANNOUNCE GLOBAL ALLIANCE AND JOINT VENTURE
DuPont and Bunge Limited plan to form an alliance to benefit their
agriculture and nutrition businesses. The joint venture, which will
be based in St. Louis, is scheduled to start up later this year,
subject to negotiation of definitive agreements. The alliance is
expected to include:
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A joint venture for the global production and distribution
of specialty food ingredients, beginning with soy proteins
and specialty lecithin products;
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A biotechnology agreement to jointly develop and commercialize
soybeans with improved quality traits;
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Development of broader services and products to farmers.
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The joint venture,
Solae L.L.C., will participate in the growing market for healthy
and tasty food proteins with a broad offering of soy ingredient
products to meet customer demand. Combining complementary capabilities
and assets along the value chain, the joint venture also is expected
to increase the efficiency of the partners’ facilities. Initially,
global revenues of Solae L.L.C. are expected to exceed $800 million
annually.
STEPHAN
B. TANDA
CEO,
DuPont Protein Technologies |
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The biotechnology agreement will combine DuPont’s strengths in science,
including leading positions in plant science and modern biology,
with Bunge’s capability to transform oilseeds and grains into value-added
products for its global customer base in the food and animal feed
sectors. Initial focus of the agreement will be on soybeans.
J. Erik Fyrwald, vice president and general manager-DuPont Nutrition
& Health, will be chairman of the joint venture and Drew Burke,
managing director-Bunge Ingredients and New Business Development,
will be vice chairman. Stephan B. Tanda, currently president of
DuPont Protein Technologies, will be chief executive officer of
Solae L.L.C. Theodore P. Fox III, currently controller of Bunge,
will be chief financial officer.
WASHINGTON UNIVERSITY'S CENTER FOR VISUAL ARTS AND DESIGN TO
BE NAMED IN HONOR OF SAM FOX
Washington University in St. Louis has plans for a new $56.8 million
facility for visual arts and design in honor of Sam Fox, a St. Louis
civic leader and supporter of the university.
SAM
FOX
civic leader and long-time
supporter of Washington University |
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“Sam Fox is among Washington University’s most loyal and dedicated
supporters,” says Chancellor Mark Wrighton. “It is with great pleasure
that we are able to recognize Sam’s special relationship with Washington
University by naming the new center in his honor.”
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Architects’
rendering shows the Saligman Family Atrium in the
museum building. |
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According to the plans the Sam Fox Arts Center will link three academic
units—the School of Architecture, the School of Art and the Department
of Art History and Archaeology in Arts & Sciences—with the University’s
Gallery of Art and Art & Architecture Library. The center’s facilities
will include two new buildings, an art museum and a second building
for the school of art, both designed by Pritzker Prize-winning architect
Fumihiko Maki. The two new structures will be integrated, according
to Maki’s design, with three renovated structures.
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Architects’
rendering of the proposed Sam Fox Arts Center at Washington
University shows the north foyer of the museum building,
which will overlook the Florence Steinberg Weil Sculpture
Garden. |
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Renovations for two of the existing buildings are complete. Construction
of the new buildings and renovation of the third will begin when
funding is secured. More than $39.5 million has been earmarked toward
the Center, through allocation of university funds and outside commitments,
including $10 million in gifts and bequests from Fox. Other major
commitments have come from Linda and Harvey Saligman, the children
of Florence Steinberg and Richard K. Weil, among others.
A 1951 business graduate of Washington University, Fox is the founder,
chairman and chief executive of Harbour Group Ltd., a private company
specializing in the acquisition and development of manufacturing
companies for long-term investment. He is an emeritus trustee and
chairman of the public phase of the current Campaign for Washington
University. Fox serves or has served on the board of many St.
Louis organizations such as the Greater Area Council of the Boy
Scouts of America, the Saint Louis Art Museum, Barnes-Jewish Hospital,
Civic Progress, the RCGA, the St. Louis Science Center and the Saint
Louis Zoo.
TWO INSURANCE GROUPS MERGE
The Michael Cremins insurance group recently merged with the Richard
Halpern-Mark Todorovich group at The Daniel and Henry Co. The new
group is now the Halpern-Todorovich-Cremins Unit.
Halpern-Todorovich-Cremins
Unit
(Left to right): Mark Todorovich, senior vice
president; Leo Cremins Jr., vice president;
Mary Ellen Cremins, wife of the late Michael
Cremins; and Richard Halpern, executive vice
president. |
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