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Biz Buzz


CD-adapco renovation done

Engineering software company CD-adapco works in the complex field of computational fluid dynamics. Now, following a $3 million renovation to its Melville headquarters, it has a new facade, revamped office space -- and a digital phone system instead of the outdated analog one it had previously. CD-adapco creates computer software to simulate how heat and liquids interact with the physical world -- think how wind flows over cars or water churns through a propeller. Included in its yearlong renovation -- which didn't receive government aid -- was the phone system upgrade, which moved voice communications into the "cloud," spokeswoman Lauren Gautier said. The phone and data upgrades cost $160,000 she said. CD-adapco is the marketing name for two companies -- Computational Dynamics Ltd. in the United Kingdom, and Analysis & Design Application Co. Ltd. in the United States -- that operate jointly and employ 692 people worldwide. The firm, which employs more than 100 people at its Long Island office, plans to hold a ribbon-cutting ceremony for its renovated building Saturday morning. -- Ted Phillips

Profits down 58% at Park

Park Electrochemical Corp., a Melville-based manufacturer of high-tech materials, said that its second-quarter profits fell 58 percent as global aerospace sales remain sluggish and the company accrued costs from shutting a manufacturing facility in China. The company, which makes materials used in circuit boards for the telecommunications and aerospace industries, said revenue fell to $46.4 million during June, July and August, down 8 percent compared to the same period a year ago. Profits fell to $3.2 million, or 16 cents per share. The drop in profits stemmed in part from Park spending $2.5 million to close its Nelco Technology unit in Zhuhai, China. Plus, the company's bottom line in the second-quarter of 2011 was boosted by $1.6 million in legal settlements, hampering comparisons to the current quarter. -- Joe Ryan


Wal-Mart to hire 50,000

Wal-Mart Stores Inc. said Friday it expects to hire more than 50,000 people this holiday season and will be offering more hours to its existing employees. The world's largest retailer, based in Bentonville, Ark., said that this year's seasonal hiring will be up slightly from last year. The discounter operates more than 4,000 stores in the United States and employs about 1.4 million people nationwide. It is the nation's largest private employer. -- AP

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