Friday P.M. Report

Sage Electrochromics will build $100M plant in Faribault: Sage Electrochromics, a maker of energy-efficient glass for windows, will build a $100 million manufacturing plant in Faribault. The company recently received a combined $100 million in financing, including $31 million in tax credits and a $72 million loan guarantee, from the U.S. Department of Energy, to help fund the expansion. The 250,000-square-foot manufacturing facility, to be constructed next to Sage’s headquarters, will employ 160 people. Read full story

Polaris shares $10M in profits with workers: Polaris Industries will distribute $10 million to employees as part of its annual profit-sharing plan, the company announced today. The Medina-based company’s profit-sharing plan has been in place since 1982. Since then, it has distributed about $200 million to nonsalaried workers. This year, about 2,200 employees will receive payments. Read full story

SurModics to reorganize businesses: SurModics will reorganize its business units and move manufacturing of a product line from Maryland to Eden Prairie as part of a restructuring plan. The company, which makes coatings for medical devices and pharmaceuticals, will also close a sales operation in Irvine, Calif. The changes will cost the company between $900,000 and $1.5 million in the second quarter. However, SurModics said it expects the move will ultimately save it between $500,000 and $1 million per year. Read full story

Life Time to test small yoga gym in Uptown: Life Time Fitness, known for building massive health clubs with a broad array of amenities, is preparing to open a small, boutique-style gym in the former Walker Library building in Uptown as it tests its new LifePower concept. The company also is expanding its test of chiropractic clinics within some of its large suburban centers. Read full story

Twins bring Michelbob’s BBQ ribs back from Florida: A 30-year veteran will be returning with the Twins from their Florida spring training this season. Michelbob’s Championship Ribs, a longtime dining fixture near the Minnesota Twins’ spring training home in Fort Myers, Fla., will be sold at the State Fair Classics concession stand inside of Target Field. Read full story

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