5 big transportation projects win $90 million; Aegion gets new controller; New York company buys St. Louis property for $10 million

Five big projects will move forward with an award yesterday of $90 million in grants from the U.S. Department of Transportation. The grants were awarded through the Better Utilizing Investments to Leverage Development program, which is for nationally and regionally significant projects. The projects are:

    • $25 million for the Buck O’Neil Bridge over the Missouri River in Kansas City
    • $25 million for the Bella Vista Bypass (I-49) in McDonald County
    • $19.8 million for the SEMO Port
    • $10.4 million for the City of Maryville’s South Main Corridor Improvement Project
  • $10-plus million for the Sedalia Railroad Spur

One Liberty Properties Inc. (NYSE: OLP), based in Great Neck, New York, is paying $10 million to buy a 120,000-square-foot industrial property on 8.64 acres in south St. Louis County. The property is near the intersection of interstates 55 and 270 and is leased through 2023 to a subsidiary of Dufresne Spencer Group Holdings LLC, the largest licensee of Ashley Furniture. One Liberty is a publicly-traded real estate investment trust incorporated in Maryland in 1982. It buys, owns and manages a portfolio of industrial, retail, restaurant, health and fitness and theater properties.

Smithfield Foods has donated $15,000 to the Sullivan County Exposition Center & Fairgrounds for the construction of an outdoor amphitheater. Sullivan County, in north-central Missouri, has a population of 6,714, according to the 2010 census. The county seat is the town of Milan. Smithfield is a $15 billion food company and the world’s largest pork processor and hog producer. Smithfield’s Milan plant was established in 1994 and has about 1,200 local employees.

Kenneth Young was appointed senior vice president and controller of Aegion Corp. (Nasdaq: AEGN), effective immediately. Young has been the company’s interim controller since April and will continue to serve as the company’s treasurer. St. Louis-based Aegion, with 2017 revenue of $1.36 billion, rehabilitates aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries.

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Drury HotelsJoe Pereles, senior vice president and general counsel, is retiring at the end of next year and will be replaced by Jovita Forster, a partner at Armstrong Teasdale. (More at SLBJ-subscription)

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