Tech Digest: what’s moving in the Midwest (10/27/04)

Tech Digest: what’s moving in the Midwest (10/27/04)

Milwaukee to get $117 million medical research facility

Children’s Hospital and Health System and the Medical College of Wisconsin plan to build a shared laboratory adjacent to their existing locations. The $117 million project is expected to begin this fall. Facilities will include several floors of labs and offices. The state of Wisconsin is contributing $25 million.

Johnson Controls’ quarterly report: $273 million profit on $6.8 billion sales

Johnson Controls, a Milwaukee-headquartered creater of temperature controls and other control systems, reported a net gain of $818 million its fiscal year. Of that, $273 million came in the quarter ended September 30. That was a 24 percent increase over income for the same quarter last year.

Plexus’ quarterly report: $37 million loss on $273 million revenues

Electronics manufacturer Plexus, based in Neenah, Wisconsin, reported a net loss of $37 million for third-quarter 2004. Revenues increased 26 percent from the same quarter last year to $273 million, from $216 million. The company reported $40.6 million in previously announced costs due to deferred tax assets and restructuring. Company officers expect a profit next year.

Venture Center launched in Fitchburg

A groundbreaking ceremony was held Monday for The New Venture Center, an $8 million technology building located on the Fitchburg Technology Campus. About 60 state and local government representatives, business people, and community leaders attended the ceremony, hosted by Fitchburg Technology Campus and Ruedebusch, the partners for the project. The building will serve “to lure technology industries into our region”, said Gary Wolter, president of Madison Gas & Electric.

Doyle welcomes pharmaceutical company to Wisconsin

Hospira, Inc., a global specialty pharmaceutical and medication delivery company, has opened a new facility in Pleasant Prarie, Wisconsin. Governor Doyle welcomed the company to Wisconsin, since it will bring up to 450 jobs to the Pleasant Prairie area. The company’s headquarters are located north of Chicago.

Life-science conference taps presenters from eight states

Twenty companies will present business plans at the Wisconsin Life Sciences and Venture Conference on November 16 and 17, the conference host has announced. Eleven are from Wisconsin, and seven other states are represented. The Wisconsin Technology Network will not reveal the companies’ identities until just before the conference.