OSRAM SYLVANIA MAKES MAJOR NEW INVESTMENT IN HILLSBOROUGH PLANT
Osram Sylvania, the only major company making automotive lights in the U.S., announced Wednesday that it will be making a multimillion-dollar investment in its plant in Hillsborough, New Hampshire.
The company said the investment will enhance its production and distribution processes. The plant currently produces hundreds of thousands of Sylvania lightbulbs each day, and it will soon package the bulbs as well. The change will add 75 to 100 new jobs to the Hillsborough plant, officials said.
Osram Sylvania said the investment is a response to the supply chain issues plaguing manufacturers, because the investment will ensure that customers across the country are able to stock up on lights.
The company will hold job fairs on the first Wednesday of every month to help grow its team, officials said.
BANKS GAIN KEY APPROVAL FOR MERGER
Newburyport Five Cents Bancorp and Pentucket Bank Holdings, two Massachusetts-based mutual bank holding companies that have significant presences in the New Hampshire market, have taken a big step toward forming a single holding company.
In December, the boards of directors for both banks approved the merger of the holding companies, which operate Newburyport Savings Bank and Haverhill-based Pentucket Bank, and on Jan. 25, the holding banks’ corporators OK’d the merger.
The banks have now begun filing their formal application to federal regulators, the final step in the merger process.
Half of Newburyport Savings’ 10 locations are in the Seacoast area of New Hampshire. Pentucket has a branch in Salem, NH.
LIFE IS GOOD TO CONSOLIDATE OPERATIONS IN HUDSON
Life is Good, the apparel manufacturer known for its stick-figure logo, will be consolidating its ware house and manufacturing operations and corporate headquarters from four separate buildings in New Hampshire and Massachusetts to one space in Hudson. The corporate headquarters are currently located in Boston.
The company now operates out of four different warehouses in Hudson and Massachusetts with similar operations taking place at each location.
Life is Good will own the building in partnership with GFI Partners, a Boston-based real estate firm with properties across New England. The 504,000-square-foot Friars Drive Industrial Facility is located at 48 Friars Drive and is the last remaining vacant parcel in the Sagamore Industrial Park.
NH FIRM CONDUCTS BREAST CANCER LOCATOR STUDY
CairnSurgical Inc., a Lebanon-based company working on developing a more precise breast cancer locator system, says that the first patients have been treated in its European clinical study of its Breast Cancer Locator system.
The successful first cases were performed at hospitals in Zurich, Switzerland, and Pisa in Italy.
The system is designed to improve the accuracy of breast-conserving surgery (a lumpectomy) by providing precise guidance regarding tumor shape, size and location, thus enabling the ability to achieve clear margins, the company said.
CairnSurgical said current breast conserving surgery is unsuccessful at removing the entire tumor about 20 percent of the time, primarily because current techniques do not provide the information required to achieve precise removal of the entire disease.
GREENE TO RESIGN AS CLAREMONT SAVINGS BANK CEO
Reginald Greene, president and CEO of Claremont Savings Bank since 2016, has submitted his resignation to the mutual savings bank’s board of trustees.
Greene, who has an over three-decade career in the banking industry, said he will remain as president until a replacement is found. Greene told the Claremont Eagle-Times that intends to remain in the banking industry after he and his family move to Massachusetts.
