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Tuesday, May 24, 2022

Briefs: Cheesecake Factory, Capstone Turbine

Cheesecake Factory Inc. opened its first location in Mexico on Thursday in the city of Guadalajara. The Calabasas casual dining chain has a licensing agreement with Mexican franchisor Alsea S.A.B. de C.V., which provides for the development of 12 restaurants throughout Mexico and Chile with the potential to expand the agreement to Argentina, Brazil, Colombia and Peru. “We are so pleased to be opening our first Cheesecake Factory in Latin America with Alsea,” said David Overton, chairman and chief executive, in a statement. The newest outlet is roughly 8,500 square feet and will seat approximately 220 guests. Guadalajara is the second largest city in Mexico and is in the state of Jalisco, also home to Puerta Vallarta, a leading beachside tourist destination. The Latin American expansion is part of Cheesecake’s larger international expansion plans. The chain opened its first overseas restaurant in Dubai in 2012, and announced in May it will expand to Asia next year. Shares closed down 79 cents, or nearly one percent, to $44.06 on the Nasdaq. Capstone Turbine Corp. announced on Thursday it received an order for one of its micro-turbines for use at a cement factory in Indonesia. The C800 power system fueled by liquefied natural gas is expected to go online in September at the factory in Balikpapan. Serba Dinamik, the Chatsworth company’s distributor in Indonesia, secured the order. The unit will be the sole electric power source for the cement factory. Shares closed down 9 cents, or just less than 7 percent, to $1.29 on Nasdaq.

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