Tulsa Business Notes from the Tulsa Chamber of Commerce
Wednesday, October 20th 1999, 12:00 am
By: News On 6
Postal Firm Expanding into New Arenas
A Tulsa-based unit of Lockheed Martin, noted for its high-speed mail sorting systems, has
targeted expansion into new commercial markets, such as banks and insurance companies, with its wholesale lockbox system. The company is also looking at materials handling and developing new products to serve its customers needs. Hopes are to grow the company from $50 million to $100 million in sales in two to three years. The company recently finished a
36,000-square-foot expansion and has increased employment from 170 to 320.
State SAT Scores Above National Average
The stateâ€™s average SAT score dipped slightly this year but remained above the
national mean, the Oklahoma State Department of Education reported. Approximately 3,100 Oklahoma High School seniors, about 8 percent of this yearâ€™s graduating class, took the SAT. This yearâ€™s average verbal score was 567 and average math score was 560. The rival ACT, which is more popular in the Midwest, was taken by about 70 percent of Oklahomaâ€™s seniors.
Manhattan To Build Williams Building
Tulsa-based Williams has selected Manhattan Construction Co. as contractor for the
Williams Technology Center, a 15-story office building to be erected near the east entrance
of the Bank of Oklahoma tower downtown. Groundbreaking was held Sept. 16th with
completion anticipated in the second quarter of 2001. The building will have 733,391
square feet of space and accommodate up to 4,000 employees.
AAON Chosen For Red Chip Tracking
The Red Chip Review has chosen Tulsa-based AAON Inc. to join the ranks of nearly 200
small-cap stocks followed by the small- and micro-cap research publication. AAON was
chosen due to its gaining market share, throwing off net income and increasing earnings at record levels. For the year ended Dec. 31, revenue advanced to a record $106.8 million, which represented a 30.7 percent gain over 1997.
Riverside Extension Opens
City officials opened a one-mile portion of Riverside Drive from 81st Street to 91st Street,
completing a two-mile extension of the parkway. The extension links Riverside Drive north of 81st Street with a one-mile leg running south from 91st Street to 101st Street. Voters approved $15.9 million in 1991 third-penny sales tax money for the two-mile road.
Red Man to Acquire Houston Company
Tulsa-based Red Man Pipe & Supply Co. has agreed to purchase the assets and business
operations of R. J. Gallagher Co. of Houston and to merge the operation into Red Man.
R. J. is a supplier of stainless steel and carbon pipe, fittings and valves. Red Man, which
will have 61 service and supply centers in 12 states after the merger, distributes products to
the energy industry.
Tulsa Airport To Add Two Car Rental Companies
Eight car rental companies that bid $3.48 million a year for the rights to serve Tulsa
International Airportâ€™s passenger terminal were awarded five-year concession agreements. The high bidders included two new companies â€“ Alamo and Enterprise.
City Looks Into Third Water Line
The Tulsa Metropolitan Water Authority is initiating a comprehensive study of the cityâ€™s
entire water system, which includes a third flow line from Hudson Lake. The authority is
acquiring the remaining 10 percent of right-of-way for future construction. The cityâ€™s
current water supply is plentiful through year 2015 and is supplied through two lines to lakes
Eucha and Oologah.
New SouthCrest Hospital On Track
After four months of business, SouthCrest Hospital is on track and right where it should be, according to hospital officials. Last month the hospital had 232 admissions and an occupancy rate of 17 percent. The cityâ€™s newest hospital, located in far Southeast Tulsa is a joint venture between Hillcrest HealthCare System and Triad Hospitals.
Downtown Parking Garages Being Studied
As many as two public parking garages could be built downtown to meet growing commuter
demand. The Tulsa Parking Authority is looking at the feasibility of building two parking garages after a study determined that an additional 1,850 parking spaces are needed
downtown to satisfy future demand caused by scheduled development in the core business
Construction Nears End For 138,000 Sq. Ft. Office Building
Construction continues on the $5.8 million Union Pines speculative office building at 4600
S. Garnett Road. The 138,000-square-foot, two-story building, located on a 15-acre tract
immediately south of the Broken Arrow Expressway, will be complete by the end of October. The building was designed to handle the latest in high-tech business needs.