1. DemocratandChronicle.com Thursday, May 30, 2013 Page 5B
European companies strike
deal for manufacturing site
Unither Pharmaceuticals will ac-
quire a UCB manufacturing plant on
Jefferson Road that employs about
300 people and primarily makes liquid
pharmaceutical products, according
to the French company.
Under the deal, Unither will con-
tinue manufacturing UCB products
and offer jobs to all the local employ-
ees, about 250 full-time and 50 part-
time employees.
The transaction also includes a
six-year supply agreement between
the two companies. UCB is based out
of Brussels, Belgium. Financial de-
tails were not disclosed. The deal is
expected to be completed by the four
quarter of this year.
Downtown Rising luncheon to
highlight $694 million in work
Rochester Downtown Development
Corp. will host its annual Downtown
Rising luncheon next week at the
Radisson Rochester Riverside Hotel,
120 E. Main St.
The event on Tuesday will highlight
the $694 million in commercial, resi-
dential and public development pro-
jects underway in downtown Roches-
ter.
An Expo from 11:15 a.m. until noon
will showcase downtown projects
through rendering displays and exhib-
it tables. The luncheon will start at
noon and feature the following speak-
ers: Gilbert Winn, Larry Glazer, dt
ogilvie, James Maddison, Michael
Philipson and Jennifer Indovina.
Tickets are $50 per person. Reser-
vations are required by noon on Mon-
day. For more, call (585) 546-6920, or
send an email to rddc@rddc.org. In-
formation also is available at
rochesterdowntown.com.
Prizes included three
best-of-show honors
Eastman Kodak Co. customers took
home three of seven best-of-show
awards at the 2013 Flexographic Tech-
nical Association (FTA) Excellence in
Flexography Awards in San Diego in
April.
In addition to the best-of-show
winners, Kodak customers from
North America, Europe, Japan and
Australia also captured 20 other
awards in six different categories.
All 23 of the award-winning jobs
were produced with KODAK FLEX-
CEL NXH plates.
The print jobs were evaluated by
judges in several areas.
At a glance
DOW
15,302.80
-106.59
2
S&P 500
1,648.36
-11.70
2
NASDAQ
3,467.52
-21.37
2
Stocks of local interest, 6B
Market Watch
After a tough fiscal 2013, Video
Display Corp. is expecting a better
fiscal 2014.
The Georgia-based parent compa-
ny of electronics manufacturer Z-Axis
Inc. of Phelps, Ontario County, an-
nounced its latest quarterly results
Wednesday.
For the year ending Feb. 28, sales
were down more than 23 percent, to
$49.1 million.
And after expenses, the company
broke even, vs. a profit of $3.6 million
or 46 cents per share in fiscal 2012.
In a statement, CEO Ron Ordway
said the down numbers were due to
delays in major defense programs and
fewer shipments in a medical power
supplies contract of Z-Axis.
But for fiscal 2014, the company
sees potential growth in its military,
medical, industrial and commercial
displays business, and is projecting
revenue north of $60 million and prof-
its of 52 to 60 cents per share.
Video Display shares closed at
$3.82, up 9 cents or 2.4 percent.
— Matthew Daneman, staff writer
Local stock highlight
News Tips
Call (585) 258-2416 or (800) 767-7539 from
outside Monroe County.
2 T-note, 10-year yield, 2.12%, down 0.05.
1 Euro vs. dollar, up 0.0058 to $1.2934.
1 Gold, up $12.20 to $1391.30.
2 Oil, light, sweet crude for July delivery, down $1.88
to $93.13.
Key Indicators
Len LaCara Business Editor (585) 258-2416
llacara@democratandchronicle.com
Len LaCara
Inside his airy presidential office at
the DePrez Group of Travel Companies
off Clinton Avenue South, Craig Curran
is surrounded by relics from around the
world — tapestries from Asia, hand-
made knickknacks from Africa — and
soon, he may be adding suborbital sou-
venirs.
Curran is an accredited space travel
agent and among 45 agents in Richard
Branson’s Virgin Galactic program.
“Ialwaysmakethiscomparison:Alot
of us say we’re related to the pilgrims,
but it’s another thing to say my great-
great-great-great grandmother was on
the Niña the day it landed,” he said.
“This is akin to what these folks are get-
ting. We’ve never done this before.”
Curran said several Rochesterians
have paid in part or full for spots on the
first space trip, though he wouldn’t give
exact numbers or names, other than to
say “it’s more than one.”
So why would someone want to go to
outerspaceandnotacruiseortriptothe
Bahamas? Curran believes it’s human
nature to dominate and explore.
“Humanity has always had adventur-
ous, cutting-edge early adopters, people
Craig Curran of the DePrez Group of Travel Companies is an accredited space agent
helping to sell $200,000 trips to outer space with Richard Branson’s Virgin Galactic. “This
is exciting, new and sexy. I’m just having a blast,” he says. KATE MELTON
BLAST OFF FOR
YOUR DAYS OFF
Travel agent calls
space travel ‘sexy’
Leah Stacy
A WhiteKnightTwo/SpaceShipTwo model
spacecraft in Curran’s office. KATE MELTON
GO DEEPER
ON DIGITAL
Click on this story at Demo
cratandChronicle.com or
scan the code to view a video
on Virgin Galactic’s test flight into space.
SPACE TRAVEL
BY THE NUMBERS
6: Number of trained astronauts who will
accompany each flight.
69: Miles above the earth that the Virgin
Galactic parabolic flight will travel.
4-6: The projected number of days in a “com-
mercial astronaut” experience.
2014: Curran’s predicted year for Virgin
Galactic’s first “commercial astronaut” flight
to space.
2,500: Miles per hour the spacecraft will
travel (about 3x the speed of sound).See CURRAN, Page 6B
A Lordstown, Ohio, company has
purchased the food distribution cen-
terinHenriettathatsupplies200Mc-
Donald’s restaurants in the region
and employes about 90 people.
Ohio’s The Anderson-DuBose
Company already distributes food
and paper goods to more than 400
McDonald’s and 70 Chipotle restau-
rants. The company,
considered one of the
largest minority-
owned businesses in
Ohio, purchased the
Rochester-area center
from Golden State
Foods of Pennsylvania.
The Rochester-area
plant is located at 41
Cook Drive. The total
annual revenue for the
facility is about $170 million.
“InRochester,GoldenStateFoods
hasalongstandingtraditionofexcel-
lence within the McDonald’s system.
We look forward to sharing best
practices and working to enhance
our relationship with McDonald’s,”
Warren Anderson, sole owner of An-
derson-DuBose, said in a statement.
Anderson said by phone on
Wednesday that he doesn’t antici-
pate reducing the workforce.
“Weareexcitedforthegrowthop-
portunity. I have long admired Gold-
en State Foods for its focus on opera-
tional excellence and customer-
focused culture. These attributes
makeforagoodsynergywithourex-
isting distribution operations in
Lordstown, Ohio,” Anderson said.
Company signage in Rochester
and on the trucks at that distribution
center was changed over the week-
end, Anderson said.
Anderson-DuBose operates a
158,000-square-foot distribution cen-
terinLordstown,withabouthalfthat
space devoted to dry storage and the
other half to refrigerated storage.
The Ohio distribution center em-
ploys approximately 185 people.
The company’s footprint had in-
cluded northeast Ohio, western
Pennsylvania and nearly all of West
Ohio firm
buys
Henrietta
plant
Business to serve
200 McDonald’s
Diana Louise Carter
Staff writer
Warren
Anderson
See HENRIETTA, Page 6B
Sallie Mae plans to split into two sep-
arate, publicly traded companies. The
student loan giant also named John Re-
mondi as its CEO.
Sallie Mae, formally named SLM
Corp., said Wednesday that the two sep-
arate companies — an education loan
management business and a consumer
banking business — would help unlock
value and boost its long-term growth po-
tential.
The education loan management
business would include the company’s
portfolios of federally guaranteed and
private education loans, as well as most
related servicing and collection activ-
ities. Remondi will continue as its CEO.
Sallie Mae employs about 1,000 in
Wyoming County at its Pioneer Credit
debt collection operation.
The principal assets of the business
are likely to include ap-
proximately $118.1 billion
in federally guaranteed
loans, $31.6 billion in pri-
vate education loans, $7.9
billion of other interest-
earning assets; and a loan
servicing business with
about 10 million student
loan customers. This in-
cludes 4.8 million custom-
er accounts serviced under Sallie Mae’s
contract with the U.S. Department of
Education.
Sallie Mae’s private education loan
origination and servicing businesses,
including Sallie Mae Bank and the pri-
vate education loans it currently holds,
will operate separately under the Sallie
Mae brand. Joseph DePaulo, executive
vice president of banking and finance
will serve as the consumer education
lending franchise’s CEO.
The consumer banking business’s
assets are likely to include about $9.9
billion of assets made up mostly of pri-
vate education loans and related origi-
nation and servicing platforms, cash
and other investments, and the Sallie
Mae Upromise Rewards program.
The two separate companies will ini-
tially be owned by Sallie Mae stockhold-
ers, but the separation of the businesses
does not require a shareholder vote.
Newark, Del.-based Sallie Mae antic-
ipates that the split, if given final ap-
proval by its board, could be completed
within 12 months.
Remondi will succeed Albert Lord,
who is retiring earlier than initially
planned. Lord is also stepping down as
vice chairman. Remondi has served as
president and chief operating officer
since 2011 and was CFO and vice chair-
man before that. Remondi’s appoint-
ment is effective immediately.
Sallie Mae plans split, names CEO
The Associated Press
Jack
Remondi
WASHINGTON — We had Mother’s
Day in early May, and Father’s Day is
coming up in June. In September, we’ll
celebrate Grandparents Day. And now
we’ve got 529 College Savings Day. It’s
a bit hokey, falling as it did on May 29,
as in 5/29. Cute, right?
Still, I don’t mind another celebra-
tory day since this one promotes the
tax-favored plans to save for college.
We need a day or really a month or two
to promote 529 plans. Despite the con-
cern about a looming student-loan
crisis, less than one-third of Americans
say they know what 529 plans are,
according to a survey by financial
services firm Edward Jones.
With the ever-rising cost of college
— above the rate of inflation — and not
as many scholarships as you think
available that will cover all the costs to
get through four years of college or
more, you’ll need a plan to save.
There are two types of 529s: prepaid
tuition plans and savings plans. The
first allows people to pay a child’s tu-
ition in advance. The more popular
second type allows for saving through
a tax-advantaged investment account.
Earnings in a 529 grow tax-deferred
and are free from federal tax (and in
most cases free from state and local
taxes as well) when used for qualifying
YOUR MONEY
SINGLETARYM@washpost.com
Michelle
Singletary
WASHINGTON POST
See SAVINGS, Page 6B
Worth looking at 529 savings plans for college