Corrections or additions?
These articles by Barbara Fox were prepared for the
September 5, 2001 edition of U.S. Newspaper. All rights reserved.
Six Years Later, HTI Sells Itself
Hydrocarbon Technologies, an employee-owned firm, has
a gutsy bunch of employees. In 1995 it was in danger of being
and they bought themselves out. In a deal that closed August 29, HTI
sold itself for $15 million to a publicly owned company, Headwaters
Incorporated, based in Draper, Utah (Nasdaq: HDWR).
The 50-some employees, again facing red ink, agreed to a contract
that includes $1.5 million in cash, assumption of an equal amount
of HTI debt, and 605,000 shares of Headwaters common stock, plus
options. If HTI achieves certain goals, the deal could be worth up
to $1.5 million more in cash and 605,000 shares.
HTI will be a wholly owned subsidiary of Headwaters, a leader in
and deploying alternative fuel and related technologies, particularly
converting fossil fuels such as coal and heavy oils to alternative
energy products. Established in 1943, HTI specializes in process and
catalyst research and development, process licensing, custom
pilot plant design and construction and specialty organic sample
(U.S. 1, "Refueling R&D," June 19, 1998).
Headwaters — which is working with coal and heavy oil conversion
in China and globally — bought the firm for its nano-catalysis
technology, which can reduce metal consumption in some petrochemical
processing. The catalysis market worldwide is worth more than $10
billion and nano-catalysis is billed as the best advancement in this
field in 20 years. The HTI operation is expected to remain at its
present location just outside of Trenton in Lawrence Township.
In a statement, Headwaters CEO Kirk A. Benson said that "HTI’s
technologies and accomplishments align well with Headwaters’ skill
at commercial deployment of alternative fuel technology and will
the development and commercialization of alternative fuels,
fuels, and related technologies well into the future."
Lawrenceville 08648. A.G. Comolli, president. 609-394-3102; fax,
Three years ago Robert Wood Johnson Foundation began
to sponsor a major effort dedicated to improving the lives of children
and opened an office at Canal Pointe for an organization called
Futures New Jersey. Just where in New Jersey should the foundation
concentrate its efforts? That was the question.
Last week the answer came: Trenton’s children are the fortunate
of a $20 million pilot program that could be replicated throughout
the state and nation. To RWJ’s largess will be added $3.3 million
in federal funding, funneled through the City of Trenton.
The Children’s Futures office has moved to Thomas Edison State
where the director, Rush Russell, is senior fellow at the Watson
The initial director, Velvet G. Miller, is now president of Horizon
Mercy, the managed health care program with offices at Phillips
The RWJ Foundation will partner with hospitals, agencies, churches,
community groups, and parents, as well as with the City of Trenton.
By December a call for proposals — describing how these
can apply for funds — will be available. Areas of focus: improve
birth outcomes and access to health care, promote effective parenting
skills and practices, enhance the quality of child care, and
leadership capacity in child health issues. Both secular and religious
groups may apply, says Lewis G. Sandy, executive vice president of
the Robert Wood Johnson Foundation, and those who can measure results
will get first preference.
What has been learned about healthy child development differs
from what Trenton’s children experience, the foundation discovered.
And though the state is making significant contributions for children
ages 3 to 6 under the Abbott court decision, relatively little
has been made to the first three years of a child’s life. RWJ
monies can be spent on children from Trenton families of all income
levels, not just those meeting poverty guidelines.
In particular, the program anticipates it will help mothers get
care, get treatment for substance-abusing pregnant women and mothers,
increase the number of children getting immunizations, give more
access to health insurance, and better prepare children for preschool
"The fact that this foundation is willing to make a long-term
investment and put its money behind ideas that we believe in
the real meaning of commitment and partnership," says Douglas
Palmer, mayor of Trenton.
Policy, Thomas Edison State College, Trenton. Rush Russell, director.
Suite A-30, Princeton 08540. Mary Frances Occhetti, branch manager.
609-452-2232; fax, 609-452-2667. Home page: www.atlfedcu.com
The credit union doubled its space with an August move from 212
with this move the company expects to provide more convenient parking
than was available at the Carnegie Center, and it will also have a
To bank at a credit union, you need to be an employee of a member
company, and membership here is free to any company of any size.
years ago, as a result of litigation, credit unions successfully
their nonprofit status. Members include Cytogen, Princeton GammaTech,
Carnegie Center Associates, Verizon Wireless, Diocese of Metuchen,
Hyatt Regency, and Doral Forrestal.
This 65-year-old nonprofit membership organization is based in
Atlantic Federal offers share savings, loans, term share certificates,
direct deposits, MAC cards, and no-fee checking. "It’s an employee
benefit, and because credit unions are nonprofit, we can offer high
rates on savings, lower rates on loans, and fewer fees overall,"
says Maryann Small.
Duffy, managing partner. 609-587-6456; fax, 609-587-4209.
Just in time for school’s opening, a teacher resource shop has
Margaret Duffy moved her store from Ames Plaza on Quakerbridge Road
and has a new phone number but the same fax. She offers teacher
books, learning games, puzzles, books, and other education materials
Road, Princeton Windsor Office Park, Cranbury 08512. C. C. Wang,
This technical services office has closed and no information is
from the telephone company about another location. It provided
in material science for lighting and displays.
15, Princeton 08540. Andre Liu, owner. 609-951-0300; fax,
Home page: www.pequodcopy.com
08542. 609-921-9105; fax, 609-921-7293.
Pequod Printing has changed its name to Pequod Communications to
what the company terms "a top-to-bottom approach in creating and
producing efficient communication/marketing solutions."
In 1988 James Robertson, Andre Liu, Benjamin Liu, and four other
University sophomores opened Pequod as a copy shop and alternative
textbook bookstore at 6 Nassau Street. Two years later, the copy
proving more profitable than the textbook business, they established
Pequod as an outsource reprographics firm, naming it after the boat
that hunted down the whale Moby Dick.
"From our origins as an academic-client based copy center, we
are now a corporate service center, customer-service oriented, and
we emphasize relationships. We try to become the business partner
and/or consultant for our clients’ print needs," says Andre Liu.
Two of the original owners remain: Robertson is in charge of the
mail facilities, and Liu directs marketing programs. Steven Evans
heads the creative services department, and Charles Lazarow is
Now the firm has 30 employees in three locations, including a retail
space in New Brunswick and the headquarters on Alexander Road —
rarely visited by clients. Most jobs are handled by E-mail in the
initial stages with finished copies supplied by van. "Except for
our direct mail and fulfillment work, we deliver virtually all jobs
directly to our clients," says Liu.
Steven Haase, principal. 609-466-0880; fax, 609-466-8114. Home
Steven Haase has changed the name of his company from Trainfans.com
to Trainfans Inc. He is trying to attract $2 million in venture
money, and since website sales are responsible for only a small
of overall revenues, he wants to shed any reference to a
The company has products and services for train and railroad
— audios, DVDs, videos, books, collector items, model trains,
sportswear, and calendars. Its most recent video production, filmed
on August 24, documented the mothballing of New Jersey Transit’s
Conference Committee Cars. The 47-year-old cars operated on the Newark
Drive, Suite 300, Lawrenceville 08648. Larry J. Iaquinto,
609-406-9600; fax, 609-406-9046.
Integrated Communications Corp. (ICC) of 989 Lenox Drive announced
on August 9 that it is changing its name to Interlink Healthcare
Square Commons, Trenton 08690. Anthony J. Apicelli Jr., partner.
33, Lexington Square Commons, Trenton 08690. 609-584-7100; fax,
Anthony Apicelli and Michael Bitterman split the law practice of
Bitterman & Apicelli. Apicelli, who does real estate and trust law,
moved one door down and has a new phone and fax. Bitterman is staying
in this location and focuses on litigation — discrimination
labor law, plaintiff injuries, commercial law. A graduate of Fairleigh
Dickinson in 1963, he went to Seton Hall law school and was a state
deputy attorney general before opening his own firm in 1971.
08542. Jan R. Weinberg, owner. 609-924-8535; fax, 609-924-2675.
The commercial real estate firm moved from 199 Nassau to 217 Nassau.
Phone and fax are the same. Also here: Princeton Heritage Real Estate,
a residential firm.
1008, Dayton 08810-1008. 732-438-7692.
As a result of Summit’s merger with Fleet, the operations center will
close this month. Formerly occupied by Unisys, the 94,000 foot
sits on 20 acres and accommodates 400 employees.
Newgrange Outreach Center.
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