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BBT/PRS/PW Eagle/Rinker
Oregon area materials producers changing owners, a sign of the strong economy.
McCormick and Schmicks opening new restaurants
Bend - BBT Architects of Bend, Ore., recently completed construction drawings for a new McCormick & Schmick’s Restaurant to be built in Austin, Tx., and is currently in design on a new McCormick & Schmick’s Restaurant located in Virginia Beach, Va.
Both restaurants are approximately 7,500 sq. ft. with fixed and loose seating for 250 guests in the dining and bar areas. The establishments also include private dining rooms, boardrooms and outdoor patio dining for approximately 50 people. The restaurants feature richly detailed wood accents, tile, stained glass, custom light fixtures and specialty finishes.
PRS to build 30-story care facility
 Medford - Pacific Retirement Services plans to build a 30-story continuing care facility in Portland, the company announced Tuesday. The building will be located on the Oregon Health Sciences University campus.
The 507,000-sq.ft. building, to be built by Hoffman Construction, is in design by Ankrom Moisan Associated Architects. Construction is expected to start in 2008.
The company owns 24 continuing care and low-income housing facilities in four states. A similar project, also called Mirabella was recently completed in Seattle.
PVC Company in Q2
Eugene - Shares of PW Eagle, located in Eugene, Ore., surged 11% after the maker of PVC pipe products agreed to be acquired by privately held pipemaker J-M Manufacturing for roughly $400 million in cash.
J-M will pay $33.50 a share, representing a premium of about 12% over PW Eagle's Friday closing price of $29.86.
"With the announcement of this merger, we believe the strategic committee of PW Eagle's board of directors has fulfilled its pledge to maximize shareholder value following a thorough process during which a wide range of strategic alternatives were considered," PW Eagle said in a statement.
The deal is expected to be completed during the second quarter.
Rinker Buys Salem-based Aggregate Plant
Salem - Australia’s Rinker Group Ltd. acquired the Salem-based aggregate producer Walling Sand & Gravel Cos.
The acquisition adds to the Northwest presence of Rinker. The company’s U.S. subsidiary, Rinker Materials, already operates a plant in Portland, which it acquired in 2002 and several plants in Washington.
Walling is the No. 2 aggregate producer in Salem, according to Rinker, with around 25 percent of the metropolitan region’s market share, and its West Salem quarry is the largest in the region.
Walling also operates Salem Black Top & Paving Inc. and D&D Paving.
The Oregon Department of Transport-ation plans $90 million in projects by 2008.
“Walling is a well-established business with strong market positions,” Clarke said, “and is a good strategic fit for Rinker Materials.”
Rinker Group has been targeted by the world’s No. 3 cement maker, Mexico’s Cemex, which on Monday extended a $12 billion offer for Rinker, whose shareholders are holding out for a better offer. |
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