Mainebiz

V o l . X X I N o. I I Ja N ua r y 2 6 , 2 0 1 5 10 B U S I N E S S M A I N E B U S I N E S S M A I N E b u S i n e S S n e w S f ro m a ro u n d t h e S tat e Brunswick speaker manufacturer expands Terra Speakers, a Brunswick-based manufacturer, has expanded its facil- ity and workforce to meet growing demand of its specialty commercial speakers. James Banfield, Terra's presi- dent, told Mainebiz the company has added two-and-a-half workers to its existing two-person workforce in the last five months. It has also doubled its Route 1 production and storage space to about 6,000 square feet. Banfield said the increasing demand is primarily coming from houses of worship that are seeking to use the company's CAMM line of speakers. e speaker system is installed in more than 2,500 locations, primarily in the New York metropoli- tan area, he said, but the market for the speakers is now expanding nationwide. Appliance store's jilted customers still in the dark After Gediman's Appliance abruptly closed four months ago, many customers are still wondering if the Bath business will give them the products they paid for, or at least a refund. e Bangor Daily News reported that Keenan Auction was expected to sell more than 300 appli- ances at the business' Bath and Lewiston locations in an auction on Jan. 16. Despite business owner Peter Gagnon's stated intentions in October to file for bankruptcy, the newspaper said it appears that he still hasn't done so. N O t E w O r t h y m i d C o a S t & d o w n e a S t Camden National Corp. announced a quarterly dividend of 30 cents a share, payable on Jan. 30 for shareholders of record on Jan. 16. The per share dividend is a 11% increase from the 27 cents a share declared in the third quarter of 2014 and the same period a year ago. The First Bancorp in Damariscotta declared a quarterly dividend of 21 cents a share, payable Jan. 30 to shareholders of record as of Dec. 31. It is equal to the dividend of 21 cents a share the company paid in the past two quarters. Based on the Dec. 17 closing price of $17.74 a share, the annualized dividend of 84 cents per share translates into a yield of 4.74%. Bigelow Laboratory for Ocean Sciences in East Boothbay announced Lyn and Daniel Lerner, Anna Marie and John Thron and the Harold Alfond Foundation became its latest founders by providing unrestricted support of $250,000 or more to the laboratory. Bangor concert promoter: 2015 will rock Bangor's economy could get an even larger boost from Waterfront Concerts this year after the burgeoning con- cert promotion company said 2015 is expected to be its biggest year yet. e Bangor Daily News reported that Waterfront Concerts Founder Alex Gray expressed his confidence in the company's 2015 concert lineup in a keynote address to about 350 business owners at the Bangor Region Chamber of Commerce's annual breakfast on Jan. 7. e company's waterfront concerts have had an estimated $47.5 million economic impact for Bangor since they began in 2010, with its annual contribution growing each year, accord- ing to a University of Maine econo- mist's study from last year. Old Town mill restarts e new owner of the shuttered Old Town pulp mill was expected to restart operations by Jan. 9 after hir- ing back all 180 of its laid-off work- ers. e Bangor Daily News reported that Kaukauna, Wisc.-based Expera Specialty Solutions hired back all of the employees at the end of December, a few weeks after acquiring the mill for $10.5 million at a bankruptcy proceeding in Bangor. Workers didn't have to make any wage concessions or benefits reductions in coming back. Expera, which runs four specialty paper mills in Wisconsin, makes microwave popcorn bags, wine labels and other specialty paper products. e company was formed by New York-based investment firm KPS Capital Partners last year. Beauty school with two locations abruptly closes Mr. Bernard's School of Hair Fashion's campuses in Lewiston and Bangor abruptly closed on Jan. 12, leaving students wondering how they will complete their education. e MEMBER FDIC Norway Savings Commercial Team: Dana Tait, Melissa Babineau, Dan Walsh, Rick Flagg, Rob Harville norwaysavingsbank.com We're not just expert business partners, we're your neighbors. And when it comes to growing your business, we know how to help. Call us today: 1.888.725.2207. Your Local Team M I D C O A S T & D O W N E A S T N O R T H E R N & E A S T E R N

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