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TRiSTAR
AND ROCKEFELLER GROUP FORM JOINT VENTURE TO DEVELOP FOREIGN TRADE
ZONE
The Gateway Commerce Center is on its way to becoming a foreign
trade zone (FTZ). Rockefeller Group Development Corp. (RGDC) and
TRiSTAR Business Communities are entering a joint venture to establish
the FTZ at Gateway.
The 2,300-acre Gateway Commerce Center in Madison County, Ill. has
more than 4.7 million square feet of distribution or assembly space.
Tenants include Dial Corp., Ford Motor Co., Kimberly Clark, Lanter
Co., Procter & Gamble and Scotts.
“From a logistics perspective St. Louis is one of the best locations
in the U.S.,” says Eugene Preston, vice president, development and
marketing for RGDC, noting the area’s transportation infrastructure,
workforce and favorable cost of doing business.
Preston adds that few distribution parks in the nation could boast
the attributes of Gateway with “a location in the heart of the Midwest
that capitalizes on the region’s excellent accessibility to and
from all corners of the U.S. and the world by road, air, rail and
water.” Plus Gateway has sufficient land to develop the large buildings
needed for a distribution center.
Designating a FTZ at Gateway makes the area more attractive to companies
importing products from outside the U.S. A FTZ is an area deemed
to be outside the U.S. for purposes of duty collection, allowing
companies located in the FTZ to defer, reduce or eliminate import
duties. Congress created the FTZ concept in 1934 to facilitate trade,
encourage foreign investment and increase global competition.
The joint venture with TRiSTAR will be the fifth FTZ Rockefeller
Group has established. Others include Cranbury and Mount Olive in
New Jersey as well as Homestead and Palm Beach, Fla.
CIVIC PROGRESS ELECTS LEADERS FOR 2002-2003
Craig Schnuck, chairman and chief executive officer of Schnuck Markets
is adding Civic Progress president to his responsibilities in 2002-2003.
He succeeds Charles Mueller, chairman and CEO of Ameren Corp., who
has moved to the position of chairman after serving as president
of Civic Progress for the past year. Joining Schnuck and Mueller
in leadership of Civic Progress is David Kemper as president-elect.
Kemper is president and CEO of Commerce Bancshares, Inc.
“Civic Progress
members are committed to working collaboratively with others in
the region to find solutions for critical regional economic growth,
infrastructure challenges, downtown revitalization, business diversity
and other issues,” Schnuck says. “We will continue to partner with
government, business and civic leaders to address vital needs for
the region’s future.”
ANNIE GRAY ASSOCIATES ADDS TO EXECUTIVE
SEARCH BUSINESS AND EXPANDS INTO CANADA
Annie Gray Associates recently expanded, adding a new division,
Second Opinion LLC. According to Lois Weir, the principal of the
St. Louis headquarters, Second Opinion LLC, gives a manager or corporate
executive an opportunity to obtain a second opinion on a prospective
employee. The consultation session or sessions answers the questions
such as, “Am I making the right decision about this person?” and
“What do you see that I don’t see?”
ANNIE GRAY, president,
Annie Gray Associates |
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Annie Gray also
has expanded its Executaries division, opening an office in Toronto.
Executaries finds top-flight executive secretaries for CEOs, presidents
or business owners. Nonna Solokhine, a former Annie Gray Associates
intern, is the director for Canada.
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CONDAIRE
CREATES
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SERVICES
DIVISION
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 St.
Louis-based mechanical contractor Condaire Inc. has acquired
the repair and maintenance unit of Climate Engineering Corp.,
a group with 50 years of experience in heating, ventilation
and air conditioning service for commercial and industrial
clients. This new service division of Condaire has been
named Climate Service Corp.
“Climate gives us a seasoned staff of service technicians,”
says Malcolm Sweet Jr., president of Condaire.
Sweet will serve as president of Climate Services Corp.
Lou Troha, who has been with Climate Engineering since 1983,
will become vice president of the service unit.
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ALLEGIANT
BANCORP, INC. TO ACQUIRE
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INVESTMENT
COUNSELORS, INC.
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Allegiant Bancorp, Inc. announced it has signed a Definitive
Agreement to acquire Investment Counselors, Inc., a privately
held investment advisory firm located in St. Louis. When completed,
Investment Counselors, Inc. will become a wholly owned subsidiary
of Allegiant Bancorp, Inc. and will be renamed Allegiant Investment
Counselors. The transaction is expected to be completed by
the fourth quarter of 2002, subject to regulatory approvals.
“The acquisition of Investment Counselors, Inc. presents a
unique opportunity for Allegiant Bancorp, Inc. to obtain a
St. Louis-based team of portfolio professionals to serve as
our platform for investment advisory services,” says Shaun
Hayes, president and chief executive officer of Allegiant
Bancorp, Inc.
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CENTEX HOMES TO ACQUIRE THE JONES COMPANY
One of the area’s largest homebuilders, The Jones Company, is joining
forces with Centex Homes, the nationwide homebuilding operation
of Dallas-based Centex Corp.
KEN STRICKER,
chief financial officer, The Jones Company |
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The family-owned Jones Company currently builds more than 800 homes
annually with annual revenues topping $200 million. Over the past
75 years, the company has constructed more than 16,000 homes in
St. Louis, Illinois and Nashville.
For three consecutive years Centex Corp. has ranked number one on
Fortune magazine’s list of America’s Most Admired Companies™
in the engineering and construction categories. Centex Homes has
operations in 90 markets located in 25 states and Washington, DC.
Completion of the sale is expected in January 2003. After closing
of the sale to Centex, Ken Stricker, currently Jones Company’s chief
financial officer, will become divisional president. Robert Jones,
founder and president of The Jones Company, and Howard Chilcutt,
chief operating officer, will step down from their current positions
and serve as consultants to the company for a transition period.
Included in the planned acquisition are all of The Jones Company’s
operations in Missouri, including Lexington Homes. These operations
will continue under The Jones Company name and remain based in the
current Chesterfield headquarters. Indianapolis operations of The
Jones Company will be folded into Centex’s existing operations in
that market. Jones’ Nashville operations are not included in the
sale and that will continue as an independent operation headed by
Richard Chapman.
“We’re convinced that the culture and reputation of Centex is consistent
with that of The Jones Company,” Chilcutt says. “This combination
is a good strategic and organizational fit for our employees, and
it brings numerous benefits for the customers of our homebuilding
operations.” Chilcutt adds that Centex Homes’ land acquisition and
development resources and increased buying power for materials will
result in a better value to homebuyers.
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