Grant to fund companies with innovative textile ideas

WISCASSET -Coastal Enterprises Inc., which provides funding and support to small and mid-sized businesses, was awarded $700,000 over three years to fund Maine companies that are creating or designing innovative textile-based products and processes.

The money will target companies with growing employment and capital needs, Coastal Enterprises said.

The nonprofit said it will finance three to four companies in the Biddeford and Lewiston areas, which once had vibrant textile industries. The companies will create at least 40 full-time jobs, 75 percent of which will be targeted to low-income people.

Coastal Enterprises’ partner, the Manufacturers Association of Maine, identified the performance textile sector as an innovative sector with high-growth potential.

Claudia Raessler, business coordinator at the Saco River Dye House, said the money helped fund the business, while Coastal Enterprises’ Workforce Solutions team helped it create a hiring plan and training curriculum. The Saco River Dye House will be in the former Pepperell Mill in Biddeford.

Coastal Enterprises provides rural business financing, technical assistance and policy advocacy for small and medium-sized companies.

Boston investment firm acquires Sage Data Security

SOUTH PORTLAND – Sage Data Security, a South Portland company that provides information security services for financial institutions, health care providers, government agencies and businesses, said it was acquired by Boston-based private investment firm Knob Hill Partners.

The terms of the deal were not disclosed. Sage Data said the deal would provide additional capital and resources to supports its growth efforts.

Sage Data, founded in 2002, will maintain its name, management team, employees and Maine headquarters.

The company’s founder, Sari Greene, has been named to the board of the directors. Two Knob Hill managing partners, Charles Burckmyer and Scott Noll, will assume operational responsibility for the business.

Forecast sees fewer, fuller planes at Thanksgiving

The recipe for Thanksgiving travel is likely to make travelers a little bitter this year.

Americans can expect airports to be busier and planes to be fuller than ever, according to a forecast by the main trade association for U.S. airlines two weeks ahead of the holiday. And fares are already more expensive than a year ago.

Airlines for America expects nearly 24 million travelers to fly from Friday, Nov. 16, through Tuesday, Nov. 27. That’s up slightly from a year ago. Last year’s tally was flat from 2010. Traffic on the nation’s airlines is still 10 percent below the peak travel years of 2006 and 2007.

For those traveling on the busiest days around Thanksgiving, planes are expected to be close to 90 percent full, the trade group says. That would be a record for the holiday. That forecast is an average, so expect most flights at peak hours to be completely full.

Sunday, Nov. 25 is projected as the busiest travel day.

— From news service reports