Carvel ice cream plant in Marlborough to close

March 15, 2008

Celebration Foods Inc., which makes Carvel ice cream cakes such as Cookie Puss and Fudgie the Whale, said it will close the Carvel plant in Marlborough in May, eliminating 90 jobs. The company said it is shifting production to a new plant in New Britain, Conn., citing better technology, improved efficiency, and lower costs. Celebration Foods is a division of Focus Brands Inc. (Mark Pothier)

Hydra Biosciences Inc., a Cambridge biotech company, confirmed reports it raised $34 million in its third round of venture capital, led by Advanced Technology Ventures. To date, the company has raised $63 million from several investors, including Biogen Idec New Ventures, Lilly Ventures, and Polaris Venture Partners. The company, which has 36 employees, is in the early stages of developing potential treatments for pain management and hopes to begin clinical testing on at least one of them next year. (Todd Wallack)

Diomed Holdings Inc., an Andover developer of a laser treatment for varicose veins, filed for bankruptcy protection with plans to sell some assets to Biolitec AG for up to $7 million. The sale should be completed within 60 to 90 days, Diomed said. The company blamed infringement of its patents for the Chapter 11 filing in Worcester. Last year Diomed was awarded $12.5 million in damages by a federal jury that found two rivals infringed its patent for removing varicose veins with a laser. Calls to Christopher J. Geberth, vice president of finance, weren't returned. (Bloomberg)

Slade Gorton & Co., issued a voluntary recall of its cooked langostinos because of possible listeria contamination. About 450 pounds of the recalled "Icybay Cooked Langostinos" were sold in 1 pound packages to retailers in Massachusetts and Maryland, chief financial officer Michael Smith said. He said the bulk of it was pulled off shelves Thursday. The product was sold in retail stores in a clear plastic package marked with UPC 0-73129-61672-8. (AP)

Friendly Ice Cream Corp., a Wilbraham-based restaurant chain, said it expects to complete a switch to trans fat-free oil by fall. Trans fat has been linked to heart disease. (Chris Reidy)

The Securities and Exchange Commission agreed to let municipalities bid for their own auction-rate bonds, a move that could help quell a series of failed sales that have raised borrowing costs for state and local governments. The SEC released a letter outlining disclosure requirements to the Boston office of Ropes & Gray, a law firm retained by hospitals to bring the issue before the regulator. (Bloomberg)

The Environmental Protection Agency said marine and locomotive engines must meet tougher pollution controls, hoping for dramatic cuts in the amount of smog-causing chemicals and soot coming from trains, cargo ships, tugboats, and passenger ferries. The EPA regulation would require new diesel engines used on ships and locomotives to produce 90 percent less soot and 80 percent less smog-causing nitrogen oxide beginning within six or seven years. All the ships and locomotives would be expected to meet the new standards by 2030 as older engines are replaced or overhauled with cleaner technology. (AP)

Visa Inc., the credit-card network planning the largest US initial public offering, moved up the date for selling shares to the public one day to March 18, according to Bloomberg data. Visa is trying to raise as much as $17 billion by selling 406 million class A shares for $37 to $42 each, according to a Feb. 25 regulatory filing. (Bloomberg)