New Arkansas plant to have 30 jobs to fill

A heat-treatment technology company is building a plant in Fort Smith that will employ at least 30 workers, the company said earlier this week.

Applied Process Inc., based in Michigan, with plants in Livonia, Mich., and Oshkosh, Wis., said the new plant will be 51,000 square feet and will include six furnaces. The plant is expected to be operational in the third quarter and will be used to serve customers in the Midwest and South, according to a release.

"The new facility will allow us to expand into new markets and serve a broader geographic customer base," Steve Metz, vice president of sales and marketing for Applied Process, said in a statement.

In 2016, the average entry-level production wage for Applied Process employees was $31,500, according to the company website.

The company specializes in the austempering heat-treatment process that makes iron and steel components lighter, stronger, more resilient and wear-resistant.

-- John Magsam

Little Rock port set to start work on rail addition

The Little Rock Port Authority will open sealed bids on March 6 for work building an additional mile of railroad track, the first of three projects designed to make the Arkansas River port more competitive.

The new track will allow the port to store a unit train, which is a 60-car train carrying the same material, and also provide rail service to a new dock the port expects to begin building this summer at the slack-water harbor.

A third project will involve construction of a warehouse, office space and systems that will allow cargo to be transferred between barges and rail cars, an ability unavailable on the docks now.

The projects are being financed by a $6.5 million federal grant that must be matched with local money. The port recently issued $4.5 million in bonds to finance its match, said Bryan Day, the port authority's executive director.

-- Noel Oman

Arkansas Index adds 8.33, ends at 414.56

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, jumped 8.33 to 414.56 Wednesday.

"Equities traded lower before the opening but rallied to close sharply higher as investors shrugged off rising inflation expectations from the January consumer price index release," said Leon Lants, managing director at Stephens Inc. in Little Rock.

Total volume for the index was 21.5 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 02/15/2018

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