Plastic pipe manufacturing plant first to occupy Snyder industrial park

With ground broken this month on construction of a plastic pipe manufacturing facility, Snyder’s new industrial park soon will have its first tenant.

WL Plastics, which has a corporate office in Forth Worth and plants in four states and Canada, could begin operations in Snyder by May, said Bill Lavers, executive director of the Development Corp. of Snyder.

“It’s a brand new facility,” said Lavers, explaining that the plant will start with 33 workers in a 47,000 square-foot building.

“They make HDPE (High Density Polyethylene) pipe for oil and natural gas and potable water and sewer applications,” Lavers said.

Snyder Mayor Terry Martin said plans were under way for a second industrial park for Snyder before WL Plastics decided to open a plant in Snyder.

Lavers said WL Plastics will take up about 20 acres on the 74-acre industrial park site, with the land given to the company as an economic incentive.

In addition, “we paid their first year’s payroll of a $1.5 million,” Lavers said, explaining that the money will be paid in thirds, with the final third not paid until the plant employs at least 41 workers.

About $2 million in public funds also has been spent to provide railroad access to the park, Lavers said.

Martin said rail access “is one of the primary reason that WL Plastics located here.

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Pay-to-Play Becoming Less Common in Venture Capital

To motivate investors to reinvest in additional rounds of financing at start-up companies, venture capital deals often include “pay-to-play” provisions. Under these provisions, investors that don’t reinvest have their preferred stock converted to common stock or otherwise made less preferential, VC Experts explains.

According to venture capitalist Brad Feld, pay-to-play provisions were rare in the 1990s. But after the Internet bubble popped in 2001, they became very common. New data show that investors have moved away from pay-to-play provisions in recent years.

The figure below shows data on the share of venture capital deals with pay-to-play provisions taken from the Venture Capital Report produced by law firm Cooley LLP. While the data only cover deals for which Cooley did the legal work, they show the frequency with which VCs are using pay-to-play provisions.

While the trend is imprecise, the pattern is clear. Pay-t

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Proventec proposes cancellation of AIM shares listing

Proventec 300

PROVENTEC, the Liverpool based provider of specialist cleaning technologies, has announced moves to cancel trading of its 10p ordinary shares on AIM .

The Rodney Street-based firm which supplies cleaning equipment for hospitals in the fight against ‘super bugs’ is calling a general meeting of shareholders to seek their approval for the proposal on February 9.

It said it believes the AIM cancellation would be in the best interests of the company and its shareholders.

It added that it intends to maintain the listing of its ordinary shares on the Alternext market, and an AIM cancellation would not affect those listings.

David Chestnutt, Proventec chief executive, said today: “With a significant proportion of the company’s shareholder based in the Eurozone we believe that the current Alternext listing can be used for their future trading purposes.

“This, coupled with the fact that there are significant cost savings to be made from our proposed withdrawal from AIM, lead the board to recommend shareholders of the company vote in favour of the resolution to be proposed at the general meeting.”

Directors estimate it would cost Proventec £140,000 annually to maintain a listing on AIM.

PIPA and SOPA Co-Sponsors Use Facebook to Abandon Bills – Technology

Don’t ever let anyone tell you there isn’t power in the protest. Members of the U.S. Congress have abandoned the controversial Stop Online Privacy Act (SOPA) and Protect Intellectual Property Act (PIPA) in the wake of Wednesday’s Internet blackout TAGS: censorship, Facebook, Google, online piracy, PIPA, politics, Reddit, SOPA, Wikipedia    

Since you’re on the Internet right now, you’ve undoubtedly at least heard of the SOPA (Stop Online Piracy Act) and PIPA (Protect IP Act) bills. SOPA

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Authentic food keeps Texaz Grill thriving

What started as an idea to create a little neighborhood steak house has turned into one of the more iconic restaurants in Phoenix.

Texaz Grill owner Steve Freidkin recalled the discussion he had with then-business partner Jim Mitchell in 1985, which focused on the possibility of creating a restaurant that featured a well-crafted menu with authentic Texas-style comfort food.

A few months later, they realized their dream, and Texaz Grill has been filling patrons’ cravings for Southwestern beef and poultry ever since.

“Our philosophy has always been to serve a quality product at a reasonable price,” Freidkin said. “It sounds cliche, I know, but those are the words we have lived by.”

Most of the restaurant’s features — how the dishes are prepared, the eclectic atmosphere and welcoming vibe — have changed very little since the early years.

But Mitchell has retired.

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