Michigan company to open Spartanburg plant
Michigan robotic machine maker Edgewater Automation will open a $3 million plant in Spartanburg with 53 jobs. .
The plant will open in the former Somet building at 1750 Martin Road in January.
Family Dollar deal could get back on track
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Family Dollar Stores Inc. may be in play again after a standstill as activist investor Nelson Peltz’s restriction on raising his stake to more than 9.9 percent was lifted.
Private-equity bidders could be drawn to the opportunity to make Family Dollar more efficient, Edward Jones & Co. said. The retailer’s margins lag behind those at Dollar General Corp., which KKR & Co. bought in 2007 and took public two years later. A buyout by Dollar General, which has more than double Family Dollar’s $8.3 billion market value, may cut costs at the smaller company, Albert Fried & Co. said.
Bryn Winburn, a spokeswoman for Matthews, N.C.-based Family Dollar, declined to comment on whether the company would be interested in selling itself or whether it has held takeover talks.
Samsung bringing flip phones back
Flip phones are making a comeback thanks to Samsung. Last month, the company was rumored to be working on a flip phone that runs Android, and the South Korea tech giant confirmed those rumors this week by posting an image of the device on the Chinese version of its official website.
The device, which is simply called the W789, features two screens – one on the cover and another on the inside. The small and narrow device comes in a light-purple-colored shell and it features a very retro numerical keyboard for dialing.
The flip phone’s screens both measure 3.3 inches and have 320-by-480 pixel resolutions. The device runs on a 1.2GHz quad-core processor, comes with a 5-megapixel rear camera and has 8 gigabytes of storage. It runs on Android 4.1 Jelly Bean. Additionally, the device comes with a microSD slot and two SIM-card slots.
Bloomberg News and Los Angeles Times contributed