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Friesen to receive national award

ALBERT Friesen, a Winnipeg bio-entrepreneur who has arguably done more to create a life-sciences industry in Manitoba than any other individual, is to receive a prestigious national award today at the BIO International Convention in Chicago.

The Industry Leadership Gold Leaf Award is given annually to honour individuals demonstrating exemplary vision and leadership in Canadian biotechnology by BIOTECanada, Canada's national biotechnology industry association.

Friesen serves as president of Genesys Venture Inc. and CEO of Medicure Inc. He is responsible for raising more than $140 million to develop a drug treatment for acute ischemia and ischemic-reperfusion injury. His leadership in the biotech industry has been instrumental in finding and developing several Canadian health-industry companies, including ABI Biotechnology, Novopharm Biotech Inc., Genesys Pharma Inc. and KAM Scientific Inc. and was also the driving force behind several others including Miraculins and Kane Biotech.

Friesen is the recipient of a number of awards, including Distinguished Alumni of the University of Manitoba and the Order of Manitoba.

 

Boeing to unveil expansion plans

BOEING Canada Winnipeg is unveiling plans for a 150,000-square-foot expansion today.

The Winnipeg plant is the largest composites-manufacturing facility in the country and makes about 1,000 different composite parts and assemblies for a range of Boeing commercial jets, including the 737, 747, 767, 777 and 787 airplane models.

The company employs more than 1,600 people in more than 730,000 square feet of space in three sites in the city.

The expansion at its Murray Industrial Park plant will consolidate all the aerospace company's Saskatchewan Avenue and Redwood Avenue facilities into one location.

The Winnipeg expansion will also create space for new parts work for Boeing's new 737 MAX, the fourth generation of the 737 that is in development with the first delivery scheduled for 2017.

 

Upgrades help Rogers' profits improve

TORONTO -- Rogers Communications Inc. says its first-quarter profits grew 15 per cent, helped partly by more subscribers upgrading their smartphones.

The telecommunications and media company reported Monday it earned $414 million for the quarter, up from $360 million a year ago.

On an adjusted basis, earnings were 80 cents per share, beating analyst expectations of 77 cents per share based on a poll by Thomson Reuters. Revenue increased to $3.03 billion from $2.94 billion. Analysts had estimated revenue of $3.06 billion for the period.

 

Ralph Lauren settles bribes allegations

ALBANY, N.Y. -- Ralph Lauren Corp. settled U.S. Justice Department and Securities and Exchange Commission allegations bribes were paid to Argentine import officials, agreeing to give up more than $700,000 of illicit profits and pay an $882,000 penalty, federal authorities said Monday.

The New York-based apparel company promptly reported the violations from 2005 to 2009 after discovering them in 2010, terminated culpable employees and a third-party agent, and shut down its offices and stores in Argentina, officials said. Lauren won't be prosecuted under agreements for maintaining worldwide risk assessment and training employees about the U.S. Foreign Corrupt Practices Act, which it was accused of violating.

"The NPA in this matter makes clear that we will confer substantial and tangible benefits on companies that respond appropriately to violations and co-operate fully with the SEC," said George Canellos, acting director of its enforcement division. The SEC said bribes of $593,000 were paid over four years through its customs broker to get its products into Argentina without necessary paperwork and avoid inspection of prohibited products. The violations were found when the company adopted measures to improve its worldwide internal controls.

 

-- from staff / news services

 

Republished from the Winnipeg Free Press print edition April 23, 2013 B5

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