FOR THE
              RECORD        

      By Leila Marija Ugincius

This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings, mail it to Catherine Leitch at VIRGINIA BUSINESS, 411 East Franklin Street, Suite 105, Richmond, Va. 23219, e-mail it to ForTheRecord@va-business.com, or fax it to (804) 649-6311.

MERGERS & ACQUISITIONS

Newport News Shipbuilding buys Avondale Industries

Two of the nation's largest shipbuilders plan to merge into a $2.6 billion company. Newport News Shipbuilding is purchasing New Orleans-based Avondale Industries for $470 million in stock. The newly named Newport News Avondale will employ 24,000 people. The companies are combining to strengthen their ability to compete with Electric Boat, the Connecticut-based shipbuilding division of General Dynamics Corp.

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AES Corp., an Arlington-based global power company, plans to purchase the Indian River Steam Electric Plant from the Orlando Utilities Commission for an undisclosed amount.

Banner Aerospace Inc. and The Fairchild Corp., both of Dulles, plan to merge in a stock swap. In a separate transaction, Fairchild plans to purchase Kaynar Technologies Inc. for $267 million.

Dominion Energy Inc., the natural gas subsidiary of Richmond-based Dominion Resources Inc., acquired San Juan Partners LLC, a Houston-based natural gas company. Terms were not disclosed.

Orbital Sciences Corp., a Dulles-based space and information systems company, purchased the Transportation Management Solutions business unit of Lexington, Mass.-based Raytheon Co. for $21 million.

Transaction Network Services Inc., a Reston-based communications company, plans to acquire Transline Communications Inc., a Kansas-based provider of voice data systems, for $4 million.

NEW PLANTS AND COMPANIES

Aspen Motion Technologies, a subsidiary of Milwaukee-based APW Inc., plans to move a $9.2 million manufacturing operation into a shell building in Radford. The facility, which will develop and manufacture motion-control products, will create more than 170 jobs.

Ericsson Inc., a Swedish supplier of telecommunications equipment, plans to relocate its U.S. distribution facility from Allen, Texas, to Lynchburg, where the company already has a U.S. subsidiary. Ericsson plans to invest $15 million and create 130 jobs.

Mehler Engineered Products, a subsidiary of the German textile manufacturer Mehler AG, plans to invest $16.5 million to open a U.S. headquarters in Henry County, initially employing 50 people.

EXPANSIONS

Volvo Trucks announces major Pulaski expansion

Volvo Trucks North America plans to expand its existing plant in Pulaski County. A $3 million grant from the Governor's Opportunity Fund and a good track record in Virginia prompted Sweden-based Volvo to expand.

Union workers at first were hesitant to approve a contract that would reduce starting salaries by 30 percent, but in the end they approved the new six-year contract. Volvo Trucks North America plans to invest $148 million to expand the assembly plant and hire 1,277 more people. The 25-year-old plant already employs 2,400.

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Kingston-Warren Corp., a division of Harvard Industries, plans to expand its Wytheville manufacturing facility. The $8 million deal will create more than 90 jobs.

Management Resources Inc., a Richmond-based management consulting and systems integration firm, plans to invest $1 million to expand its headquarters and hire 50 employees.

CUTBACKS & CLOSINGS

Norfolk Southern Corp. plans to lay off 23 people at its coal piers because of a decline in the coal shipments.

EXECUTIVE PROMOTIONS

Thomas R. Brown, president, Thomas Rutherfoord Inc., a Roanoke-based insurance broker.

James Condon, president and COO, CyberCash Inc., a Reston-based electronic-commerce services company.

Mark A. Kissman, CFO, Spacehab Inc. of Vienna, a developer of modules for laboratory facilities aboard NASA's space shuttles.

Colleen Milsap, CFO, DigitalNation, a web-commerce company in Alexandria.

Lin Pearce, president, Template Software Inc. in Dulles.

Benjamin L. Poole, CFO, Interstate General Co. of Chantilly, and CEO of its subsidiary, American Family Homes.

CONTRACTS

American Express Travel Services, Arlington: $7.8 million from the General Services Administration for transportation services.

Consolidated Engineering Services Inc., Arlington: $36.7 million from the Navy for operation of government facilities.

GTE Government Systems Corp., Chesapeake: $8.8 million from the Navy for support services.

Logicon Syscon Inc., Falls Church: $90.8 million from NASA for technical services.

MKI Systems, Springfield: $7.2 million from the Marine Corps for support and development.

Newport News Shipbuilding, Newport News: $6.4 million from the Navy for overhaul and modernization of the USS Caron.

Ogden Engineering & Construction Inc., Fairfax: $16.3 million from the Army for construction services.

Raytheon Support Services Co., Norfolk: $38.4 million from the Navy for technical services.

Science Applications International Corp., Arlington: $262 million from the Environmental Protection Agency for software development.

Sensci Corp., Alexandria: $8.9 million from the Army for research and development.

Stanley Associates Inc., Alexandria: $10.8 million from the Army for ammunition.

Tetra Tech Inc., Vienna: $9.8 million from the Environmental Protection Agency for technology services.

REAL ESTATE

Charles E. Smith Residential Realty Inc. of Arlington purchased Buchanan House, a 442-unit apartment high-rise in Crystal City, from a private investor for $60 million.

United Dominion Realty Trust Inc. of Richmond sold The Melrose, a 370-home apartment community in Northern Virginia, to CRS Triangle Housing Corp., a Triangle-based nonprofit corporation, for $11.9 million.