CoorsTek Medical buys Italian company

CoorsTek Medical, a Fort Worth-based manufacturer of components for medical devices, has made its first move into Europe with an acquisition in Italy.

The company recently purchased Nanosurfaces Industries Srl. of Bologna from Samo,AMO, one of Europe’s oldest makers of medical devices for the orthopedic market. The company will take the CoorsTek name.

Jonathan Coors, a member of the brewing family who is serves as CEO of CoorsTek Medical, said the acquisition will add to the company’s manufacturing capabilities and provide direct access to European markets.

CoorsTek Medical was established following the acquisition of IMDS, a group of component makers based in offices near Alliance Airport. CoorsTek, run by Jonathan’s father, John Coors, is a global manufacturer of engineered ceramics for products including military body armor.

Separately, CoorsTek said this week it has reached a definitive agreement to acquire the Japanese semiconductor-parts maker Covalent Materials Corp. from the Carlyle Group LP and Unison Capital Group.

-- Steve Kaskovich



Cash America's Enova unit starts trading on NYSE after spinoff

Cash America completed the spinoff of its online subprime lending unit, Enova International, which started trading today on the New York Stock Exchange under the symbol ENVA.

In early trading, Enova shares were off 92 cents, or 3 percent, at $29.59.

In the spinoff, Cash America shareholders received shares in Enova at a rate of 0.915 shares for each Cash America share owned as of Nov. 3. Cash America continues to own 20 percent of Enova, which is headquartered in Chicago.

IN a statement, Cash America's president and CEO Daniel Feehan said:

“Today we completed the strategic separation of two businesses in a way that we believe will deliver superior long-term value to the shareholders of Cash America. We acquired the business that is today known as Enova in 2006 when it was a small online lender offering a single product reporting nominal profits. Today, Enova is an innovative diversified online business with over $800 million in revenue, based on the trailing twelve months results ended September 30, 2014. Through the use of advanced analytics and product development, Enova now offers a wide variety of loan products in five foreign countries and the United States.”

Mr. Feehan continued, “The foundation for the success of Enova was generated through our appreciation for the need for small short-term loans, which started with our traditional legacy storefront business based in the U.S. known as Cash America Pawn. From the end of 2006, the year Cash America acquired Enova, through September of this year, the storefront secured lending business has grown from 487 locations to 948 locations and more than doubled its pawn loan balance outstanding from $127 million to $264 million and remains the largest pawn loan company in the United States in terms of loans outstanding. With a proud history of successfully meeting the needs of its customers in a storefront environment, Cash America will continue to be a leader in its industry and set the standard for others to follow.”

-- Steve Kaskovich


PINSTACK bowling venue headed to Alliance Town Center

 FORT WORTH _ PINSTACK, a 50,000-square-foot entertainment venue and bowling alley, is headed to Alliance Town Center in north Fort Worth.

Hillwood Properties said Tuesday it has finalized an agreement with Dallas-based Entertainment Properties Group for the project, to be located at the intersection of Hillwood Parkway and Heritage Trace Parkway.

The venue offers full-sized bowling lanes, private lanes and indoor games and attractions. It can accommodate as many as 2,000 people. It will also feature a full-service restaurant.

“AllianceTexas and north Fort Worth, is one of the country’s fastest-growing areas and we are excited to be adding a second PINSTACK location to our portfolio here in North Texas,” said Mark Moore, president and CEO of Entertainment Properties Group, in a statement.

PINSTACK is slated to open in early 2016, Hillwood said.

Entertainment Properties Group is also planning a PINSTACK at the Dallas North Tollway and Windhaven Parkway in West Plano. It is expected to open later this year.

Entertainment Properties Group also operates five iT’Z Family, Food & Fun brand in Texas, New Mexico and Colorado.

_ Sandra Baker


Area home price increases in September outpace nationwide figure

Fort Worth-Arlington home prices increased 7.4 percent in September from a year ago, nearly 2 percentage points higher than home prices nationwide, according to the latest monthly market report from CoreLogic.

Texas home prices rose 8 percent in September, recording a new high for the month. Texas was among Colorado, Nebraska, North Dakota and South Dakota to report new highs in home prices.

U.S. home prices rose 5.6 percent from a year ago, which marks 31 consecutive months of year-over-year increases, CoreLogic said.

In September, though, the number of lower priced homes was up 9.4 percent, but higher-priced homes were up only 4.5 percent, signaling a change in the market, CoreLogic said.

“Home prices continue to rise compared with this time last year, but the rate of growth is clearly slowing as we exit 2014,” said Anand Nallathambi, CoreLogic’s president and CEO, in a statement. “With more positive macro-economic trends emerging in the U.S., we are forecasting moderate price growth for 2015.”

_ Sandra Baker


Fort Worth-Arlington mortgage delinquency and foreclosure rates drop in August

Mortgage delinquency and foreclosure rates in FortWorth-Arlington decreased in August from a year ago, according to CoreLogic data released today.

In August, 3.62 percent of mortgage loans were 90 days or more delinquent, down from 4.1 percent in August 2013.

The foreclosure rate,  which measures the percentage of loans in some stage of the foreclosure process, was 0.75 percent, a decrease of 0.37 percentage points compared to August of 20313 when the rate was 1.12 percent, CoreLogic said.

The local rate was lower than the national foreclosure rate, which was 1.61 percent in August. A year ago, the rate was 2.4 percent.

_ Sandra Baker


Land services firm moving downtown from west side

Norwood Land Services has leased space in the Oncor Building in downtown Fort Worth where it will relocate to in mid-October.

The company has leased 7,920 square feet on the 13th floor of the building at 115 W. 7th St. The company will move from  6421 Camp Bowie Blvd.

Casey Tounget and Theron Bryant with Coldwell Banker Commercial Alliance DFW represented the landlord, Benbrooke Electric Partners. Bill Tinsley with Ellis & Tinsley represented the tenant.

The building is now 93.5 percent occupied, Tounget said.

“Downtown Fort   Worth is always going to be a hot market,” Tounget said. “The walkability factor certainly weighed on Norwood Land Services' decision to move into the downtown.”

_ Sandra Baker



Goodwill Industries of Fort Worth buys building for expansion

Goodwill Industries of Fort Worth said Friday it has bought the former DP&P Construction building located at 2514  Mansfield Highway, adjacent to its headquarters at 4005 Campus Drive.

The organization said its contracts workshop and day-habilitation center will be relocated to the 7,000-square-foot building to ease a bottleneck in their donation and distribution warehouse, and allow for expansion of their recycling and retail operations.

David Cox, Goodwill Industries president and CEO, said the organization is “busting at the seams.”

 “In last two years alone, we’ve opened three new donation centers, one new retail store - with another in the planning stages, rebranded and reopened the Job Resource Center and expanded our recycling program,” he said in a statement.  

_ Sandra Baker


Fewer Fort Worth-Arlington homeowners under water on their mortgages in the second quarter


The number of home owners with mortgages in negative equity in the Fort Worth-Arlington area continues to fall, and stood at 2.7 percent in the second quarter, well below the national number of 10.7 percent, according to a CoreLogic report.

Locally, 10,316 residential properties, or 2.7 percent, with a mortgage were in negative equity, meaning more was owed on the house that it is worth. That compares to 13,137 properties, or 3.4 percent, in the first quarter, CoreLogic said.

CoreLogic, a leading provider of property information, analytics and data-enabled services, said 5.3 million homes, or 10.7 percent of all residential properties with a mortgage nationwide, were in negative equity in the second quarter. That compares to 7.2 million homes, or 14.9 percent, in the same quarter a year ago.

"Many homeowners across the country are seeing the equity value in their homes grow, which lifts the economy as a whole," said Anand Nallathambi, president and CEO of CoreLogic, in a statement. "With more and more borrowers regaining equity, we expect homeownership to become an increasingly attractive option for many who have remained on the sidelines in the aftermath of the great recession."

_ Sandra Baker


AllianceTexas to host hiring fair on Thursday

AllianceTexas, Hillwood’s 18,000-acre master-planned, mixed-use community in North Texas, is hosting its annual job fair from 9 a.m. to 2 p.m. Thursday at the Speedway Club at Texas Motor Speedway, located at 3545  Lone Star Circle. 

Representatives from about 40 companies in Alliance are scheduled to be on hand.

“Through the years, we have seen the success the job fair has had at enhancing our workforce development in the area,” said Mike Berry, president of Hillwood Properties developer of AllianceTexas, in a statement. 

The AllianceTexas Hiring Fair is sponsored by Hillwood, the AllianceOpportunityCenter and Workforce Solutions for TarrantCounty and North Central Texas.

Participating organizations include American Airlines, Amazon.com, Cabela’s, Deloitte University, DFW Marriott at TMS, FedEx, Fidelity, Fort Worth Police Department, Heritage Bag, LG Electronics, Mercedes Benz Financial, OHL/Walmart.com, Tom Thumb/Safeway, and UPS. 

A variety of positions such as warehouse/manufacturing/distribution staff, forklift operators, logistics professionals, faculty, aerospace engineers, software developers, financial service professionals, administrative professionals, food service staff, hospitality staff, bank tellers, customer service representatives will be featured. 

For information on current job openings, or the AllianceTexas Hiring Fair, visit www.AllianceTexas.com or call the Alliance Opportunity Center at (817) 548-5274.

_ Sandra Baker

New REI store in Southlake looking for employees

The new REI Southlake store will officially open at Park Village in early November and the store is looking for employees. This is the retailer's first Tarrant County store, but third in the Metroplex.

The Seattle-based retailer is accepting applications online at http://rei-retail.jobs/.

Employees receive a variety of benefits, including product and service discounts, competitive pay and retirement contributions.

The store, at the southwest corner of Southlake Boulevard and Carroll Avenue, opens Friday, Nov. 7. Grand opening activities of events and giveaways will be held from Friday, Nov. 14 to Sunday, Nov. 16. 

REI Southlake will sell top brands of outdoor gear and apparel for camping,  climbing,  cycling,  fitness,  hiking,  paddling and travel,  the retailer said. The 22,050-square-foot store will also feature a bike store for assembly and repairs.

When the store was announced last fall, REI said it planned to hire about 50 employees.

REI has been recognized as one of FORTUNE magazine’s 100 Best Companies to Work For for 17 consecutive years.

Park Village is an 18-acre development by Fort Worth-based Woodmont Co.

_ Sandra Baker







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