Marlboro Company to Be Run From China

BUSINESS IN BRIEF

Marlboro company to be run from China

MARLBORO – A potential buyer could not move forward with its bid for 3Com Corp. because a Chinese company was one of the investors in the deal. But 3Com, a Marlboro networking equipment company, will be getting its orders from China after all.

The company reported a boardroom shakeup on Tuesday after the markets closed: CEO Edgar Masri is leaving and will be replaced by Robert Mao, a former 3Com exec who will run the company from an office in Beijing. Robert Sege, another former 3Com exec, will return to the company as its president and will report to Mao.

Mao had been executive vice president at 3Com from August 2006 to March 2007. Before joining 3Com, he was president of Nortel’s operations in China.

Bain Capital had recently teamed up with China’s Huawei Technologies on a bid for 3Com, but the deal was scuttled amid concerns in Washington about Huwaei’s involvement.

Clean Harbors stock sale raises $173.5M

NORWELL – Clean Harbors Inc. has raised $173.5 million through a sale of nearly three million shares of the company’s stock to the public and to the underwriters of the public offering. The Norwell- based environmental services company said it plans to use the proceeds for potential future acquisitions, repaying debt or increasing its available working capital.

Comcast doubles net speed for business

Comcast Corp. has roughly doubled its Internet connection speeds for business customers in Southeastern Massachusetts, according to a Comcast spokesman. The company now offers download speeds of up to 16 megabits per second and upload speeds of up to 2 megabits per second at no extra charge to its Internet businesses customers.

Raytheon developing super robot suit

WALTHAM – Robert Downey Jr. will appear in a fictional, super- powered exoskeleton this weekend during the “Iron Man” movie, but Waltham-based military contractor Raytheon Co. is working on a real- life counterpart. Raytheon’s exoskeleton, a robotic suit that gives its wearer improved strength and endurance, is being developed at the Raytheon Sarcos lab in Salt Lake City for the U.S. Army. Raytheon acquired Sarcos, a robotics company, last fall.

Hyde Park company exec wins $20K prize

BOSTON – The chief financial officer of No Sweat Apparel in Hyde Park has won a $20,000 prize in a monthly contest to recognize small business ideas. John Studer’s company makes clothing and sneakers at sweatshop-free factories in the United States, Canada and developing countries. Studer was picked as the March winner of credit card issuer Advanta Corp.’s ideablob.com monthly contest.

Verizon to phase out duplicate FiOS analog channels

Verizon is phasing out a small number of duplicate analog channels on its FiOS TV service. Verizon will offer a free digital adapter to subscribers of a service which solely offers the duplicate channels. The changes are being made in anticipation of a federal mandate to end analog TV broadcasts next year.

Hyde Park condo project approved

BOSTON – The Boston Redevelopment Authority has approved a 75,000- square-foot multi-building project for 875 River St. in Hyde Park. The new construction would include 38 residential condos and two 1,304 square-foot commercial condos. The residential condos would range in size from 1,300 square feet to 2,230 square feet. The construction cost is estimated at $8.5 million.

Patriot Ledger staff

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