American Tubing plans expansion
American Tubing Inc., a Springdale-based company that produces copper assemblies for use in air conditioning and refrigeration, is planning an $8 million expansion of its facilities that could lead to the creation of 100 jobs.
The expansion plans were revealed in a July 29 email sent by Scott Edmondson, director of business with the Springdale Chamber of Commerce, to the Washington County Quorum Court. The chamber was seeking a resolution endorsing American Tubing's participation in a tax-back program.
Edmondson wrote in the email that the company is in the process of purchasing 6.97 acres along Turnbow Avenue in Springdale for the "construction of a new facility to produce aluminum HVAC components."
Edmondson said the company is planning two phases for the project and estimated the total investment for land and construction at $5.25 million. Additional machinery and equipment would cost $2.75 million. The annual payroll for new employees would total about $3 million.
Edmondson did not return a message Friday. American Tubing President Chuck Lewis said the company hasn't purchased any land and added it was "way too early" to comment on expansion plans.
-- Robbie Neiswanger
Nuclear plant adds resident inspector
The Nuclear Regulatory Commission selected Andy Barrett as the third resident inspector at Arkansas Nuclear One near Russellville.
The plant, operated by Entergy Arkansas Inc., has the commission's worst rating of all 100 nuclear plants in the country.
Barrett, a graduate of Texas A&M, joined the commission in 2003. He has served as a resident inspector at Grand Gulf in Mississippi and River Bend in Louisiana, two nuclear plants owned by Entergy Corp.
Because of its low rating, the commission will conduct about 10,000 hours of inspections at Arkansas Nuclear One annually. A plant with an excellent rating receives about 6,600 hours of inspections per year.
-- David Smith
Index surges 2.75 as 15 stocks gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.75 to 348.22 Friday.
Fifteen stocks advanced and three declined.
Shares of USA Truck rose 4.4 percent in light trading.
Communications Sales & Leasing rose 3.8 percent on average volume.
For the week, 11 stocks gained ground, six fell and one was unchanged.
Windstream recorded a second-consecutive weekly gain, rising 19.1 percent.
Total volume of the index Friday was 20.2 million shares. The average daily volume for the week was 22.2 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 08/15/2015