Business Briefs for July 11, 2009

• By ADVOCATE BUSINESS STAFF
• Published: Jul 11, 2009 - Page: 7B

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LA DOTD CREDIT UNION CHANGES NAME: Denham Springs-based LA DOTD Federal Credit Union is changing its name to Main Street Financial Federal Credit Union to reflect the growing diversity of its membership.

The 70-year-old credit union began with 12 employees of what was then called the Louisiana Highway Commission. Cary J. Anderson, president and chief executive officer, said that heritage will always be part of Main Street’s history. The $103 million credit union’s membership now includes several communities, DOTD contractors and consultants and more than 200 corporate partners, Anderson said. The credit union now serves Livingston, Calcasieu and Cameron parishes.

BR’S PROVIDENCE OPENING HOUSTON OFFICE: Baton Rouge-based engineering and environmental services firm Providence is opening a new office in Houston to service its growing business in Texas and the Gulf Coast. The Houston office will serve as a hub for environmental consulting, engineering, planning, critical infrastructure protection, staffing, geographic information systems, insurance adjustments and government services.

The office will also serve as division headquarters of Providence Critical Infrastructure Protection, a strategic business unit of Providence. 

ELECTRONIC PAYMENT FIRM GOING IN TECH PARK: LSU graduate Steve Zeringue will open a Web-based electronic payment software company in Baton Rouge after selecting a Louisiana Technology Park site on Florida Boulevard over Dallas, where Zeringue now lives. Zeringue, who has 24 years experience in the finance and payment acceptance fields, will tailor his Fairshare LLC company to business-to-business needs.

Fairshare will employ four people, with a long-term employment target of 25. The company’s initial capital investment will be less than $500,000, according to the Baton Rouge Area Chamber, which helped recruit Fairshare to the technology park.

Fairshare plans to offer an automated clearinghouse for business partners to make transactions. As the company grows, it expects to hire software engineers, data analysts and Web developers, BRAC said.

DOW INCREASES NORCO CATALYST CAPACITY: Dow Basic Plastics Licensing and Catalyst has increased capacity at its SHAC Catalyst plant in Norco by 20 percent. The catalysts are used in the production of polypropylene. Dow increased the plant’s production capacity because of increased demand for the company’s catalyst systems, and demand anticipated in China, according to Cherie Holliman Wrenn, product marketing manager for Polypropylene Catalyst Systems.

N.O.-BASED REX FOODS SOLD TO TEXAS COMPANY: Adams Flavors Foods and Ingredients has sold one of its REX Fine Foods company to AFG Unlimited, a privately-held company based in Gonzales, Texas.
REX is based in New Orleans and has been making and selling Cajun and Creole spices, seasonings and foods since 1888.

AFG Unlimited executive vice president Gene Ratliff says the company hopes to grow REX’s following by capitalizing on the market it’s built in Louisiana and expand the brand into the southern region. Sterling Crim, of Adams Flavors Foods, says AFG Unlimited’s decision to buy REX Fine Foods reflects their commitment to “growing and supporting regional brand specialty spices, seasonings and related products.”

MIAMI-BASED FILM LAB OPENS IN HARAHAN: Cineworks Louisiana, a Miami-based film editing facility, has expanded its Harahan lab and will provide overnight daily digital production work for movie clients.

Cineworks editing suites are in the Nims Center Studios in Harahan, where editing suites are now open and a full-service motion picture lab will come online in August, the company said.

Cineworks is providing daily editing services for the “Father of Invention” movie, directed by Trent Cooper, scheduled for release in 2010 and starring Kevin Spacey and Virginia Madsden.