BUSINESS BRIEFS
Hoku begins $54M equity program
Advertiser Staff
Hoku Scientific Inc. said yesterday it has launched an equity distribution program with UBS Securities LLC by which the solar energy company could sell shares worth up to $54 million.
Proceeds will be used for engineering, procurement and building a 3,500-metric-ton polysilicon production facility in Pocatello, Idaho, plus general corporate purposes.
Besides the $54 million from the equity distribution program with UBS, Hoku estimates it will need to raise an additional $56 million to complete engineering, procurement and construction of the plant.
The company intends to raise that additional amount through one or more debt or equity offerings next year.
Hoku shares closed up 17 cents at $6.02 on the Nasdaq Stock Market.
PAPAYA PRODUCTION UP 4% IN APRIL
Hawai'i's fresh papaya production totaled 2.6 million pounds in April, up 4 percent from March and up 7 percent from April 2007, according to the local office of the National Agricultural Statistics Service.
Almost half of the March harvest — 1.2 million pounds — was shipped out of state.
Cumulative sales for the first four months of the year were 10.7 million pounds, up 15 percent from the same period a year ago.
Papaya growers are expected to report receiving 51 cents a pound for fresh fruit in April, 1 cent a pound more than March and 3 cents a pound more than the same month a year ago.
LANDFILL OPERATOR AN ETHICAL FIRM
Waste Management Inc., which operates landfills on O'ahu, the Big Island and Kaua'i, has been named one of the world's most ethical companies by the Ethisphere Institute.
The Ethisphere Institute publishes the globally recognized annual World's Most Ethical Companies rankings as well as the Government Contractor Ethics Program rankings and the Global Anti-Corruption Quotient.
Waste Management operates the Waimanalo Gulch, West Hawai'i and Kekaha landfills.
KILAKILA ADDS OFFICE IN LAHAINA
KilaKila Employer Services has opened a new office in Lahaina.
The Lahaina office at 180 Dickenson St. is the second for KilaKila on Maui, joining the Pukalani office that opened 11 years ago and now employs 23 people.
Kilakila said it has hired Daniel Bergan to head up the new Lahaina office. Bergan, formerly the director of sales for the Maui Chamber of Commerce, is a 31-year resident of Maui.
A&B AWARDS $2,500 SCHOLARSHIPS
Alexander & Baldwin Inc. has awarded four scholarships for $2,500 each to employees' children who will attend college.
The four students are Natashalynn Kekaha Yee-Ahnee, an 'Aiea High School student planning on attending University of San Diego; Kelsey Dietrich, a York Community High School (Illinois) student planning on attending Loyola University in Chicago; Melody Rose Quito Sagario, a King Kekaulike High School student planning on attending Gonzaga University; and Catherine Anne Tordsen, a Burlingame High School (California) student planning on attending the University of California, Davis.
The scholarships are for the 2008-2009 academic year and are renewable up to three times, making possible up to $10,000 in support from A&B.
