For the Record This report is compiled from company releases, business
journals and newspapers from around the state. If you have an item for these listings
please:
AES Corp., an Arlington-based power company, acquired a majority of Houston-based Enron Corp.s barge-mounted electric generating business in Lagos, Nigeria for $225 million. Enron Corp., is also an energy company. (Press release, 1/17/00) In another deal, the company acquired 62 percent of Gener S.A., a Chilean-based energy company. (Press release, 12/28/00) AmeriComm Acquisition Co., a Norfolk-based management and investment company, has acquired AmeriComm Direct Marketing in Louisville Kentucky. (Press release, 1/8/01) Bankers Insurance LLC completed acquisitions of the following insurance companies: Insurance Partners of Virginia in Staunton; Welton Duke & Hawks in Portsmouth and its affiliate, Valley Insurance Agencies Inc., in Lexington. (Press release, 1/12/01) Carilion Health System, based in Roanoke, and Centra Health, based in Lynchburg, plan to jointly own and operate Carilion Bedford Memorial Hospital in Bedford. (Press release, 1/17/01) Creatas, an Arlington-based creative services company, plans to acquire Dynamic Graphics, an Alameda, Calif.-based business services company. (PR Newswire, 1/4/01) F&M Bank National Corp., a Winchester-based bank, was acquired by BB&T Corp. based in Winston Salem, N.C. (Press release, 1/3/01) Hilb, Rogal and Hamilton, a Richmond-based insurance company, acquired Kelter-Thorner Inc., a Redwood City, Calif.-based insurer. (Press release, 11/30/00) Images Inc., a Dulles-based e-office automation services provider, has acquired Patuxent Business Machines Inc., a Lexington, Ky.-based computer supplier. (Press release, 1/24/01) Lafarge Corp., a Herndon-based construction materials supplier, acquired Toronto, Canada-based Warren Paving & Materials Group. (Press release, 1/3/01) BACK TO TOP New Plants and CompaniesManagement Technology Inc., a Clinton, Md.-based information technology services company, has opened an office in Richmond. (Press release, 1/4/01) Wireless Spectrum Services Inc., a Quakerstown, Penn.-based company that specializes in the construction and maintenance of cellular and PCS sites, plans to open an office in Richmond. (Press release, 1/24/01) Deals East3 Ltd., a Richmond-based advanced feedback technology company, and Hasbro Interactive, a subsidiary of Pawtucket R.I.-based Hasbro Inc., a child and family entertainment product company have an agreement for East3 to enhance Hasbros interactive computer games . (Press release, 1/10/00) Excalibur Technologies Corp., a multimedia content management provider based in Vienna, and Intel Corp., a Santa Clara, Calif.-based chip manufacturer, merged interactive services, forming Conerva Corp.. All of Excaliburs outstanding shares have been converted into Conerva Corp. shares, a new publicly traded company, and Excalibur will fold all business operations into the new company. (Business Wire, 12/21/00) Infodata, a Fairfax-based knowledge management company, has a strategic alliance with Emerald Solutions, a Portland, Ore.-based digital services company, to provide joint strategies to existing clients. (Press release, 1/4/00) Nx Networks, a Herndon-based Internet telephony systems developer has an agreement with Istanbul, Turkey-based 02 Oxygen Technologies, a technology and services development company. 02Oxygen Technologies will implement various platform convergence services and supply Nx Networks products. (PR Newswire, 12/22/00) SiteSafe Inc., an Arlington-based wireless telecommunications radio frequency company, will develop a radio frequency safety and awareness training software program for Nextel Communications Inc., a Reston-based integrated wireless communications services company. (Press release, 1/12/00) Sallie Mae, a Reston-based education funding provider, and LendingTree Inc., a Charlotte, N.C.-based online loan marketplace, have partnered for LendingTree to provide Sallie Mae customers with services for online mortgage processing. (PR Newswire, 12/27/00) BACK TO TOPExpansions Rochester Corp., a Culpeper County-based electro-optical cable manufacturer, plans to invest $10 million into the expansion of its facility, creating 35 jobs. (Press release, 1/17/00) Executive PromotionsBob Collett, president, Velocita Corp. (formerly PF.net), a Reston-based broadband technology services company. (Business Wire, 1/9/01) John W. Coyle, COO, Trigon Healthcare Inc., a Richmond-based managed-care provider. (Business Wire, 1/12/01) Thomas A. Christopher, president and CEO, Framatome Technologies Group based in Lynchburg. (Press release, 12/8/00) Brian Daum, COO and CFO, Arc Sound Inc., a Dulles-based CAD software company. (Business Wire, 1/3/01) John DuBois, CEO, Nx Networks, a Herndon-based Internet telephony systems company. (PR Newswire, 1/2/01) Neal Fondren, president, Interactive Media Division of Media General Inc., a Richmond-based communications company. (PR Newswire, 12/22/00) John P. Fowler, CEO, the Dewberry Companies, a Fairfax-based architectural and engineering company. (Press release, 1/18/01) Cynthia Francis, chief marketing officer, eMotion Inc., a Vienna-based digital media management company. (Business Wire, 1/10/01) William P. Heath Jr., president and COO, Harbor Bank based in Newport News. (Press release 1/18/01) Brian Kelly, CEO, iDefense a Fairfax-based security and risk management company. (Business Wire, 1/10/01) Mike Kokonoski, CEO, netgenShopper.com, a Fairfax-based online auction marketplace. (Business Wire, 1/17/01) Charles Quann, president, Colonial Loans Inc. based in Fredericksburg and Family Finance, based in Hopewell, both financial institutions. (Press release, 1/18/01) Edwin Miller, CEO, Ikimbo, a Herndon-based communication and collaboration software company. (Business Wire, 1/4/01) Phillipe Rollier, president and CEO, Lafarge Corp., building materials supplier. (Press release, 1/18/01) Jon T. Spotila, COO, GTSI, a Chantilly-based marketer of information technology services to federal, state and local government. (PR Newswire, 1/2/01) William S. White, president and CEO, BioCache Pharaceuticals Inc., a biopharmaceutical company based in Richmond. (Press release, 12/21/00) Noel Wolber, chief technology officer, Infodata, a Fairfax-based knowledge management company. (Press release, 1/3/01) BACK TO TOP Real EstateCharles E. Smith Residential Realty based in Arlington, purchased the Reston Executive Center I, II and III, three six-story office buildings in Reston, for $109 million. (Press release, 1/2/01) Oakwood Worldwide, a Herndon-based real estate developer, purchased a 20-acre, 12-building apartment community in Herndon for $61 million. (PR newswire, 12/29/00) American Woodmark Corp., a Winchester-based maufacturer of cabinets, has been authorized to repurchase $10 million of the companys common stock. (Press release, 1/18/01) Cenit Bancorp Inc., a Norfolk-based holding company, has been authorized to repurchase 200,000 shares, or 5 percent, of the companys common stock. (Business Wire, 1/23/01) James Monroe Bancorp Inc., an Arlington-based holding company, has listed the companys common stock on the Nasdaq Stock Markets OTC Bulletin Board under the symbol JMBI. (Business Wire, 1/22/01) Old Point Financial Corp., a financial services firm based in Hampton, has been authorized to repurchase up to 130,00 shares of the companys common stock. (Press release, 1/19/01) Signal Corp., Fairfax: $19.5 million, 10-year contract from the National Institutes of Health to provide information technology services. (Press release, 1/16/00) Stanley Furniture, a Stanleytown-based manufacturer, has been authorized to use $10 million to repurchase the companys common stock. (Press release, 12/12/00) DivestituresTranskrit Corp. a Roanoke-based manufacturer of business forms, announced plans to close after its parent company, Dimac Corp., filed Chapter 11 Bankruptcy. The closing will eliminate 225 jobs in Roanoke and 188 more in Fort Smith, Ark. (The Roanoke Times, 12/22/00) BACK TO TOP Contracts APAC-Virginia Inc., Midlothian: $236 million from the Virginia Department of Transportation to construct 17 miles of roadway and 27 new or widened bridges in the Richmond area. (PR Newswire, 12/22/00) Barber Martin Advertising, Richmond: $5.1 million from the Virginia Lottery for marketing and advertising services for the next three years. (Richmond Times-Dispatch, 1/5/01) ePlus Inc., Herndon: $60 million over two years in multiple contracts from the state of Pennsylvania for educational procurement services around the state. (Business Wire, 1/3/01) Hathaway-Duke Construction Co., Virginia Beach: $5 million to build additions to Cape Henry Collegiate School in Virginia Beach. (Press release, 12/15/00) Maximus, Reston: $18 million over five years from the state of Tennessee to operate the child support enforcement program. (Press release 1/10/00) Signal Corp., Fairfax: $19.5 million, 10-year contract from the National Institutes of Health to provide information technology services. (Press release, 1/16/00) TRW Inc., Reston: $78.7 million over five years to provide technical support to the Air Forces Rocket Systems Launch Program. (Business Wire, 1/4/00)
Cutbacks
& Closings This report is compiled from company releases,
business journals and newspapers from around the state. If you have an item for these
listings please: Return to Virginia Business - March 2001
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