Penn. Firm to commercialize Connecticut patent
Rocky Hill-based Next Generation Ventures, an investment partnership between the Phoenix Cos. and Connecticut Innovations, announced that a patented digital video and networking technology would be acquired by ComCam International, a Westchester, Penn. firm. ComCam produces remote video recording and networking for the security, transportation and medical industries. The technology was developed by the New Haven firm Radia Technologies Corp. and filed with the U.S. Patent Office in 2000.
Hamilton Sundstrand acquires French manufacturer
Windsor Locks-based Hamilton Sundstrand, a division of United Technologies Corp., has signed an agreement to acquire Dosatron International, a French designer and manufacturer of water-powered dosing pumps for use in agricultural, irrigation and industrial industries. Based in the town of Tresses, Dosatron is a private firm and terms were not disclosed. It will join Hamilton’s Milton Roy division, which produces metering pumps for industrial systems.
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Alexion posts $39M loss
Cheshire biotech Alexion Pharmaceuticals reported $39.3 million in losses for the fourth quarter, after a $32 million loss the previous quarter. It reported $0.2 million in revenue. The company plans to manufacture and sell its first product, Soliris, a treatment for the blood disease PNH, later this year. For the year the company lost $131.5 million, nearly identical to 2005’s loss of $131.3 million.
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Stanley Works pays dividend
New Britain-based toolmaker The Stanley Works will pay a $0.30 per share, first quarter cash dividend. CEO and Chairman John F. Lundgren called it an effort to pass strong 2006 earnings down to its shareholders. The payment marks the 448th consecutive quarter the company has paid a cash dividend.
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UTC fined
United Technologies’ Otis unit and four other elevator makers were fined $1.3 billion for operating cartels for the installation and maintenance of elevators and escalators in Germany, Belgium, Luxembourg and the Netherlands by European Union regulators.
