Hartford Business Journal

www.HartfordBusiness.com March 9, 2015 • Hartford Business Journal 7 maNuFaCturiNG Acquired filtration business boosts Lydall's 4Q profits Manchester manufacturer Lydall said its early 2014 acquisi- tion of a United Kingdom industrial-filtration business helped boost its fourth-quarter profits by 39 percent. Lydall recorded $5.7 million in profits, or 34 cents per diluted share, compared to $4.1 million, or 25 cents, in the final quarter of 2013. Net sales were up nearly $28 million, at $127.6 million. The company's new industrial-filtration segment — formerly owned by Andrews Industries — added $29 million in new revenue, while its performance materials and thermal/acoustical metals segments saw sales fall by a combined $2.1 million. Industrial filtration was also the driving factor behind an in- crease in Lydall's net income for 2014. Profits were $21.8 million, or $1.28 per share, up from $19.2 million, or $1.14 per share. Net sales grew by nearly $138 million, to $535.8 million. Industrial filtration accounted for more than $112 million of that growth. CT to loan $3M to expanding Windsor manufacturer Windsor precision parts manufacturer Leipold Inc. will more than double the size of its manufacturing plant and hire as many as 20 new workers over the next four years, with the help of a $3 million state loan, Gov. Dannel P. Malloy's office said. The Manufacturers Assistance Act loan will help pay for the $8 million expansion, which includes 20 new CNC lathes. Up to $2 million of the loan is forgivable, if Leipold creates 20 jobs and retains the 40 it has. The 10-year loan also has other favorable terms: 1 percent interest, with the first six years of principal deferred. Leipold is part of the Leipold Group, based in Germany. what's ahead: ■ 3/16 Focus: Construction ■ The List: largest residential mortgage lenders ■ Nonprofit Profile: Jewish Community Foundation of Greater hartford CaleNdar Tuesday, March 24 The Social Media Revolution Still have questions about social media marketing? Lauren Vargas, senior director of digital marketing for Aetna Insurance Group will answer your questions in her presentation at the Greater Hartford Women's Conference on Tuesday, March 24. The event, which runs form 8 a.m. to 4 p.m. at Maneeleys Banquet and Catering Facility, 65 Rye St., South Windsor, is being sponsored by the South Windsor Chamber of Commerce (SWCC). Vargas will inform audience members how to streamline digital marketing content and get closer to customers by unifying social channels and developing a digital ecosystem. Social is all about collaboration so Vargas will also teach attendees how to bring their departments together to create a streamlined approach for all digital publishing and engagement. Cost to attend is $69. For more information or to register go to: www. greaterhartfordwomensconference.com or call the SWCC at 860.644.9442. F O r a C O m P l e T e l i s T O F G r e a T e r H a r T F O r d b u s i n e s s e v e n T s , G O T O w w w . H a r T F O r d b u s i n e s s . C O m a n d C l i C k O n ' T H e a G e n d a . ' a l l C a l e n d a r i T e m s m u s T b e s u b m i T T e d e l e C T r O n i C a l l y v i a O u r w e b s i T e , H a r T F O r d b u s i n e s s . C O m . eNerGy & utilities NU workforce drops 5% in 2014 The number of employees at Northeast Utilities was reduced by 449 workers in 2014, according to regulatory filings issued by the company, now called Eversource Energy. NU had 8,248 employees at the end of 2014, down from the 8,697 employees at the end of 2013, a 5.2 percent workforce reduction, according to the annual reports the company filed with the U.S. Securities & Exchange Commission. NU was rebranded as Eversource Energy on Feb. 2. The com- pany is dually headquartered in Boston and Hartford. The company attributes the loss to employee attrition, the outsourcing of its information-technology department, and about 100 open positions the company is actively seeking to fill, said Eversource spokeswoman Caroline Pretyman. In 2013, NU announced it was outsourcing half of its 400-employ- ee IT department to two firms based in India. Connecticut Attorney General George Jepsen objected to the move, saying it compromised NU's ability to adequately respond to outages and other emergencies, but the Public Utilities Regulatory Authority ruled last year that the NU outsourcing would have no impact on its emergency response. The number of NU employees at its Berlin electric subsidiary Connecticut Light & Power remained relatively flat, as 1,548 were working there at the end of 2014, compared to 1,566 in 2013. CL&P also has been rebranded Eversource Energy. Tickets & Sponsorship http://hartfordgoredluncheon.ahaevents.org or call (203) 303-3351 AmericanHeartConnecticut @HeartCONN THIS EMPOWERING EVENT will focus on women's heart health and will feature inspiring stories, a delicious heart healthy lunch and Keynote Speaker, Arianna Huffington. Mark Bertonlini, Aetna Chairman, CEO and President will join Arianna in a discussion about women's heart health. Arianna Huffington is the chair, president, and editor-in-chief of the Huffington Post Media Group, a nationally syndicated columnist, and author of fourteen books. 2015 Greater Hartford Go Red For Women ® Luncheon ARIANNA HUFFINGTON Keynote Speaker Wednesday, March 18 th Connecticut Convention Center 10:30 am – 2:00 pm 2015 Cities Go Red Sponsor Media Sponsors Locally Sponsored by ©2015, American Heart Association. Also known as the Heart Fund. ™Go Red trademark of AHA, Red Dress trademark of DHHS. Northeast Utilities recently celebrated its rebranding to Eversource Energy by ringing the opening bell at the New York Stock Exchange. P H O T O | C O n T r i b u T e d

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