Business Digest


May 19, 2007|By Hanah Cho

Maryland : Development

Cinetic Landis plant set for Hagerstown

Cinetic Landis Grinding Corp., a maker of precision grinding systems for vehicles, will build a $10.8 million plant near Hagerstown, company officials said yesterday. The plant in the Newgate Industrial Park along Interstate 81 will employ about 150 people and is scheduled to open in July 2008, the company said.

Associated Press


Martek moving to S&P SmallCap 600

Standard & Poor's has decided to move Martek Biosciences Corp., a Columbia biotech company, from the S&P MidCap 400 index to the S&P SmallCap 600 after the close of trading Tuesday. The nutritional-supplement maker has a market capitalization of about $649 million, "well within the small-cap range," Standard & Poors said. Martek's stock price has fallen significantly since its 12-month high of just over $30 a share last August. It will be replaced in the MidCap 400 index by Kindred Healthcare of Louisville, Ky., and will take the spot in the SmallCap 600 being vacated by Central Parking Corp., which is going private.

Jamie Smith Hopkins


Sylvan hires new ad agency

Sylvan Learning Center, the tutoring business of Baltimore-based Educate Inc., said yesterday that it has hired Publicis Mid America in Dallas as its new advertising agency after a months-long review of its creative strategy. Publicis will be responsible for strategy, creative development and execution of Sylvan's advertising. Publicis replaces Sylvan's agency for 10 years, Doner.

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