SSI wins contract to build gunnery
Fort Smith-based design and construction company SSI has been awarded $16.2 million contract to build a gunnery range at Fort Chaffee.
The federal contract by the National Guard Bureau in Little Rock is for the construction of a scout reconnaissance gunnery range complex.
Ken Hart, vice president with SSI, said Tuesday that the contract is significant for the Fort Smith company but not the first time its worked for the National Guard. Hart said the job includes earthwork, putting in the infrastructure for a target system, as well as constructing buildings and roads.
Work is expected to begin shortly, and Hart said the job will take two years to complete.
SSI was founded in 1969 and offers design/build services, pre- and post-construction services, and construction management services, according to the company website.
-- John Magsam
Freight firm plans office in Northwest
Total Quality Logistics will invest $250,000 to open a facility in Lowell that is expected to create up to 50 new jobs in Northwest Arkansas.
The Cincinnati-based freight brokerage firm was interested in Northwest Arkansas because the region and state are already hubs for trucking and transportation companies.
Last year the company moved more than 815,000 loads of freight, including fruit, vegetables, meat, poultry, building supplies and machinery. Total Quality Logistics was founded in 1997 and now employs more than 2,800 in 16 states.
"Northwest Arkansas has a strong reputation as a hub for logistics, so it's only fitting for a company like Total Quality Logistics to be drawn here," Gov. Mike Beebe said in a statement announcing the facility opening.
-- Chris Bahn
State index jumps 2.91 to end 351.92
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.92 to 351.92 Tuesday.
"Stocks rallied as fickle investors brushed off fears of rising interest rates despite the very real possibility that the Fed will indicate today its increasing resolve to let rates edge higher," said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Murphy USA was the top performer, gaining 3.2 percent on moderate volume, Williams said.
The downside was dominated by banking issues and led by Simmons, Home BancShares and Bank of the Ozarks, Williams said.
Total volume of the index was 15.9 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 09/17/2014