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If options in the contract are fully executed and funded, the agreement could be worth $343.7 million and run through 2029, Bath Iron Works said.
After sales fell last year, the Freeport-based company has cut its performance bonus from 13.5% of annual pay to 9%.
The listing went live this week and has already garnered inquiries from owner-users and investors. Robbins Lumber acquired the plant last year from Pleasant River Lumber Co.
Under the direction of this 2024 Business Leader of the Year, the food business incubator and shared manufacturing and processing facility, moved to a large facility and is on track to enroll 100 members by June.
A 2024 Business Leader of the Year, Melissa LaCasse, secured $3.2 million in pre-seed funding and used her skills in distribution, business development and strategic planning to position Tanbark for success.
Anker, one of the 2024 Business Leaders of the Year, is overseeing a $2 million expansion at the company’s solar-powered facility in Hiram. The maker of small-batch granola, trail mixes, roasted nuts and cereals has nationwide aspirations.
The 2024 Business Leaders of the Year include the two founders of TimberHP, which is bringing a new form of building insulation to the United States and in the process, creating jobs and a healthier planet.
For its 30th anniversary, Mainebiz looks back at the business climate in 1994, including some businesses that have grown since then.
Some of the best quotes from the 2024 Mainebiz Business Leaders of the Year.
"With these awards we hope to demonstrate the impact entrepreneurs have on their hometowns and our state," said Diane Sturgeon, Maine district director for the U.S. Small Business Administration.
Southworth International Group Inc., the Portland-based parent company of several manufacturers, has announced key leadership promotions and organizational changes.
The first conference, in November, drew over 320 people including key industry players. The second confab is being positioned as an invitation for the global space community to engage with Maine's rapidly growing space economy.
“Employers like BIW need to have a seat at the table with our educational partners to ensure the training provided to Mainers prepares them for the jobs of today and tomorrow,” said Bath Iron Works' president, Charles Krugh.
The funds will assist the company finalize its equipment purchases and installation and begin operations for its molded-fiber manufacturing operation.
The Kittery shipyard has been removed from the U.S. Environmental Protection Agency’s national priorities list of contaminated Superfund sites, after 30 years of hazardous waste cleanup.
Mainebiz talks with Toby Ahrens, an entrepreneur whose market is expanding like — well, like a buckwheat puff.
Sponsored by Kennebunk Savings Bank
Next year will bring a host of new challenges for businesses looking to add employees to the payroll.
Maine's Paid Family and Medical Leave law will go into effect, which will allow an employee to take paid leave for up to 12 weeks to care for an ill family member or new child, for instance.
The state's minimum wage will increase by 45 cents an hour, to $15.10 (a separate minimum wage provision was approved in Portland that will raise the hourly compensation to $19 within three years).
And rising health care premiums will continue to be a struggle for employers.
For companies that plan to grow, all of these factors will have to be managed.
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Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
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Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
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