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BLI class of 2013 graduates 19 businesspeople Thursday
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Bonadio grows private equity practice
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BLDC gets $250K state grant for downtown Binghamton improvements
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EFC awards $3M no-interest loan for expansion of Sauquoit Creek Pump Station
SAUQUOIT — The New York State Environmental Facilities Corp. (EFC) board has approved a $3 million short-term, interest-free loan for complete engineering services in the
VIP closing in on Tim Hortons for Pike Block
SYRACUSE — The Pike Block development in downtown Syracuse is finalizing a lease with Tim Hortons Cafe & Bake Shop. VIP Development Associates, the development
Bonadio Group climbs in rankings of largest CPA firms
The Bonadio Group, a Rochester–based accounting firm, ranked as the 54th largest firm in the nation on the Accounting Today list of the country’s top
Johnstone Supply prepares for move to larger space
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The board of directors at KeyCorp (NYSE: KEY) authorized a new share buyback program for up to $426 million of the banking company’s common stock.
New markets spark growth at International Fire-Shield
AUBURN — International Fire-Shield, Inc. began targeting some niche markets in 2012 and is planning for growth as a result. The company, based in Auburn, doubled its staff to 10 people last year and expects to double its workforce again in 2013, says Pat Bumpus, CEO and founder. He also expects the company to increase
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AUBURN — International Fire-Shield, Inc. began targeting some niche markets in 2012 and is planning for growth as a result.
The company, based in Auburn, doubled its staff to 10 people last year and expects to double its workforce again in 2013, says Pat Bumpus, CEO and founder. He also expects the company to increase its sales by 100 percent or more this year.
The firm got its start in 1984 as a developer of fire retardant products. Bumpus says he returned to the firm about 18 months ago after some time off and saw a major need among residences for the disabled and in student housing for a more effective approach to fire retardants.
International Fire-Shield took some time to develop a broad package to help those institutions determine the best products for their needs, apply them correctly, and then track and maintain those applications, Bumpus says. The program has been on the market since 2012.
Since then Arc organizations in Onondaga, Chemung, and Madison counties, disabled-services organizations in the Finger Lakes, and Cornell University have taken advantage of the company’s approach, Bumpus says. About 10 to 15 health-care organizations have adopted the program in the last six months as well.
Fire-Shield employs its own in-house staff who can visit sites and apply the company’s fire-retardant products themselves. They can also evaluate what may have been applied to surfaces in the past.
That way, a facility can be sure its getting the proper product applied in the proper way, Bumpus says. The firm also runs training programs for clients’ maintenance staff if they want to handle the work themselves and become certified in the field, he adds.
Fire-Shield developed new technology that allows it to track applications of fire retardants more effectively, Bumpus says. The method involves applying an ultraviolet stamp on a surface that has been treated.
The permanent stamp can then be read at a later date and provides information including date of application, the materials used, and even who applied the retardant.
“That’ll go right back to batch numbers at our plant,” Bumpus says. “It completes the loop.”
Fire-Shield plans to apply for patent protection on the technology, he adds.
Fire-Shield has always done similar outreach to its customers and has had staff certified in applying fire retardants on its staff for years. But a formal program targeted at student housing and residences for the disabled is new, Bumpus says.
The company recently announced a partnership with Liberty ARC of Amsterdam that Bumpus says will help spread Fire-Shield’s approach nationwide. Liberty, he says, is nationally regarded among Arc groups.
The two organizations are planning to partner to both manufacture and apply Fire-Shield’s products at residences for the disabled around the state and nation.
The effort will create jobs for the people Liberty serves, according to the organizations. One of Liberty’s programs helps provide jobs for disabled individuals.
Repackaging Fire-Shield’s products for wider distribution will be a part of that program, Bumpus says. Liberty may also look to train some of the people it works with in applying Fire-Shield’s materials.
Scotsman ends Pennysavers after “severe” downturn
SYRACUSE — A “severe” and “abrupt” downturn in Scotsman Media Group’s Pennysaver business prompted the company stop publishing the weekly newspapers March 10 and cut about one-third of its workforce as a result. The downturn began in December and continued through February, Scotsman President William Veit says. The company considered a major overhaul of the
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SYRACUSE — A “severe” and “abrupt” downturn in Scotsman Media Group’s Pennysaver business prompted the company stop publishing the weekly newspapers March 10 and cut about one-third of its workforce as a result.
The downturn began in December and continued through February, Scotsman President William Veit says. The company considered a major overhaul of the papers, but ultimately decided to walk away.
“We didn’t have the capital nor the desire to invest in that way,” Veit says.
With the end of the Pennysavers, which Scotsman began publishing in 1954, the company cut about 60 jobs. Veit declined to say whether employees affected by the moves received severance.
Scotsman shuttered Pennysaver sales offices in Auburn and Cortland. It also eliminated jobs at its offices in Syracuse, Fulton, and Chenango Bridge.
The firm how has about 100 employees, including about 65 in Syracuse, where it has offices and printing facilities. The Fulton location is mainly responsible for Scotsman’s Valley News newspaper, which covers that local area. The Chenango Bridge site houses additional printing capabilities.
The Pennysavers included 16 different publications that covered communities stretching from Fulton to Cortland and Geneva to Fayetteville and Manlius. The papers reached 210,000 homes, Veit says.
The newspapers’ advertisers, mainly small and mid-size businesses, have been under pressure amid the weak economy, Veit says. That customer base also has numerous options for promoting themselves, including other print newspapers and magazines, television, radio, and digital venues.
Veit declined to comment on the reason for the suddenness of the downturn. He did say Scotsman acted quickly to protect the rest of its business.
“We felt that had we not made this change, the future of the company could have been in jeopardy and we weren’t willing to take that risk,” he says.
Scotsman will continue to provide commercial printing and distribution services. The company will also continue to publish the Valley News, Today’s CNY Woman, Vacationer, and more.
Commercial printing accounted for about half of Scotsman’s revenue before the Pennysavers ended. That work will now be responsible for 80 percent to 85 percent of the firm’s business.
The company’s other specialty publications will account for the remainder, Veit says. He declined to comment on Scotsman’s annual revenue.
Outside of the Pennysavers, Scotsman’s business was strong, Veit says. The company handles more than 100 commercial printing jobs every week. Its other publications have been doing well.
The weakness in the Pennysavers would have limited Scotsman’s ability to focus on its better-performing divisions, Veit says.
The company plans to aggressively pursue new commercial printing business in its current markets and neighboring states to fill the open press time created by the end of the Pennysavers, he adds.
Editor’s note: Scotsman Media Group prints The Central New York Business Journal and its sister publications The Mohawk Valley Business Journal and The Greater Binghamton Business Journal.
Contact Tampone at ktampone@cnybj.com
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.