May 2002

This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

mail it to:
For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

or e-mail it to ForTheRecord@va-business.com,
or fax it to (804) 649-6311.

Mergers and Acquisitions
Metwood Inc., a Boones Mill-based manufacturer of building components, acquired Providence Engineering, a consulting engineering firm in Roanoke. (03/19/02, Press release)

Hilb, Rogal and Hamilton Co., an insurance intermediary headquartered in Richmond, acquired LFC Insurance Agents & Brokers Inc. of Beverly Hills, Calif. (03/15/02, Press release)

Convera, an information infrastructure provider based in Vienna, acquired Semantix Inc., a software development company, for 900,000 restricted shares of Convera common stock. Semantix specializes in cross-lingual processing and computational linguistics technology. (03/07/02, Press release)

AmericanEagle.com, an Illinois-based Web consulting and development firm with operations in Alexandria, merged with IDEV, a Maryland-based Web design firm for an undisclosed amount. (02/27/02, Press release)

Dominion, an energy producer headquartered in Richmond, plans to purchase Atlanta-based Mirant State Line Ventures Inc.,whose assets include the State Line Power Station outside Hammond, Ind., for about $182 million. (02/26/02, Press release)

Vastera Inc. of Dulles, a leading supplier of software and services for companies moving goods across international borders, acquired Imanet, a software manufacturer based in Ontario, for an undisclosed amount. (02/26/02, Press release)

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Deals
SLAY, a Richmond-based public relations firm, will provide media and marketing services for four new clients: Capital One Financial Corp., a bankcard issuer headquartered in Falls Church; NET 30, a personal bookkeeping service in Richmond; The Switch, a fruit juice product undergoing a national rollout; and Hamilton Beach/Proctor-Silex, a Richmond producer of home appliances engaged in legal action against Honeywell Corp. (03/20/02, Press release)

Cavalier Telephone, headquartered in Richmond, has joined forces with Imago Bloom, a full-service creative communications agency based in Alexandria. (03/18/02, PR Newswire)

Convera, a Vienna-based software provider, partnered with SIGNAL of Fairfax, an information technology and engineering management services provider, to deliver knowledge management solutions to the U.S. Military Academy at West Point, N.Y. (03/04/02, Press release)

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New Plants and Companies
Keystone Dyeing & Finishing, a New York-based manufacturer of custom textiles and dyeing services, will open a facility in Orange County, creating 125 jobs through a $2.5 million investment. Virginia competed with Rhode Island for the project. (03/26/02, Press release)

Boeing Company, an aerospace firm headquartered in Chicago, opened an air traffic management office in McLean to further work on defining performance requirements for a new air traffic system. The new division office will mean 100 new jobs. (03/21/02, Press release)

Noblestar, a Reston information technology firm, formed a company, Defywire, to create wireless networking products. (03/20/02, Potomac Tech Journal)

Power Systems International Inc., a manufacturer of mobile power systems for the military, will relocate from New York to Rockbridge County. The $2.5 million investment will create 64 jobs. Virginia competed with West Virginia and Tennessee for the project. (03/18/02, Press release)

INFe Inc., an investment banking and business advisory services company of Falls Church, launched a subsidiary, INFe Technologies, that will focus on selling telecommunications equipment and related services to small- and medium-size businesses. (03/12/02, Press release)

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Executive Promotions
Barry A. Culman, COO, EYT, formerly Ernst & Young Technologies, in Chantilly. (03/18/02, Business Wire)

Drew A. Joyce, CFO, Southern Health Services Inc. in Charlottesville. (03/15/02, Press release)

James L. Bland III, president, COO, Cycomm International in McLean. (03/13/02, Press release)

Ranjit Singh, president, CEO, Reliacast Inc. in Herndon. (03/12/02, Press release)

Todd Foutz, president, The Packett Group in Roanoke. (03/11/02, Press release)

Richard Montoni, CFO, Maximus in Reston. (03/07/02, Press release)

Elmer Coppoolse, executive vice president, COO, SynXis Corporation in McLean. (03/07/02, Press release)

Richard T. Goodman, president, Smithfield Deli Group in Smithfield. (02/27/02, PR Newswire)

Alex Hawkinson, COO, TeleComputing in Sterling. (02/27/02, PR Newswire)

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Contracts
Quality Performance Inc., Fredericksburg: $94.4 million from the Department of the Navy for the Moriah wind measurement system. (03/26/02, Press release)

SIGNAL Corp., Fairfax: $3.8 million from the U.S. Army for support work on the Pentagon renovation. (03/26/02, Business Wire)

Data Systems & Solutions, Reston: Fifteen-year contract from ExpressJet Airlines for jet engine monitoring services. (03/26/02, PRNewswire)

Raytheon Co., Reston: $50 million from the Kingdom of Jordan for fire control upgrade kits for M60A3 battle tanks. (03/25/02, PRNewsire)

Computer Sciences Corp., Falls Church: $225 million over seven years from the Defense Information Systems Agency for information technology services. (03/25/02, PRNewswire)

Tessada & Associates, Newington; NCI Information Systems, McLean; Crewstone Technolgoies, Hampton: $117 million over 10 years from NASA Langley Research Center for scientific information services. (03/22/02, Potomac Tech Journal)

SteelCloud Inc., Dulles: Two-year subcontract from Lockheed Martin for imaging servers to upgrade the U.S. Postal Service's bar code sorters. (03/21/02, Potomac Tech Journal)

PEC Solutions, Fairfax: $10 million over five years from the Immigration and Naturalization Service for information technology services. (03/20/02, Business Wire)

Anteon Corp., Fairfax: $27.3 million over four years and nine months from the Naval Surface Warfare Center - Dahlgren for support services in the Aegis shipbuilding program. (03/20/02, Business Wire)

Vredenburg, Reston: $7.5 million from the Naval Sea Systems Command for professional and technical services in the undersea warfare program. (03/19/02, Business Wire)

McNeil Technologies Inc., Springfield: $10 million over five years from the Office of the Secretary of Defense for document declassification services. (03/15/02, Press release)

DynCorp Systems & Solutions, Reston: $1.8 billion over seven years from the Department of State for communication system design and development at U.S. embassies, consulates and foreign service posts worldwide. (03/13/02, PR Newswire)

SRA International Inc., Fairfax: $10.5 million over five years from the U.S. Department of Defense for information technology and business process support to DoD's Science & Technology program. (03/11/02, Press release)

Sperry Marine, Charlottesville: $27.2 million over three years from the Naval Surface Warfare Center, Carderock Division, for engineering and technical support on integrated ship navigation and control systems. (03/07/02, Press release)

Allied Research Corp., Vienna: $130 million over three years to Allied's Belgian unit, MECAR S.A., from the U.S. Army Operations Support Command for delivery of MECAR's new 90mm ammunition. (03/06/02, Press release)

Sutron, Sterling: Five-year contract from South Florida Water Management District for specialized services in the areas of stream flow data acquisition and evaluation. (03/05/02, Business Wire)

Getronics Government Solutions, Herndon: $10 million from the Defense Information Systems Agency and the Defense Information Technology Contracting Organization Pacific, Pearl Harbor, Hawaii, for providing services and equipment for training and operations sites. (03/05/02, Business Wire)

Orbital Sciences Corp., Dulles: $900 million over eight years from The Boeing Company for development, testing and production of ground-based boost vehicles for America's ballistic missile defense system. (03/04/02, Press release)

Christopher Consultants, Fairfax: $1.2 million over two years from the Washington Metropolitan Area Transit Authority for coordination, collation, identification and preparation of easements for the METRO system in Virginia and the District of Columbia. (02/28/02, Press release)

SensyTech, Newington: $9.1 million over four years from The Naval Undersea Warfare Center, Newport, for engineering, first article testing and subsequent production of up to 64 submarine antenna assemblies. (02/27/02, Business Wire)

General Dynamics, Falls Church: $131 million over four years from the Defense Department to four of the company's business units for various military services, including production of Hydra-70 rockets, 30mm ammunition and system upgrades. (02/27/02, PR Newswire)

Dominion, Richmond: $3.5 million over one year awarded to Logica, a Houston-based global solutions company, for designing integrated utility business solutions. (02/27/02, PR Newswire)

DynCorp, Reston: $7.9 million over three years under the General Service Aministration's ANSWER contract for providing research, systems development, training, program integration, and management support to the U.S. EPA Office of Emergency and Remedial Response. (02/27/02, Press release)

ManTech International Corp., Fairfax: $82.3 million over five years, from the NASA Goddard Space Flight Center in Greenbelt, Maryland for environmental testing and integration support services. (02/26/02, Business Wire)

SSP-Litronic, Reston: $2.3 million from the Department of Defense for smart card and digital certificate management software and engineering services. (02/26/02, Business Wire)

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Cutbacks and Closings
Weyerhaeuser, a forest products company based in Federal Way, Wash., will close its Richmond corrugated packaging plant with the loss of 31 jobs. (03/26/02, Press release)

Trinity Packaging Corp., a manufacturer headquartered in Armonk, N.Y., canceled plans to open a $10 million facility in Clarksville. The facility would have created 300 new jobs. (03/21/02, Richmond Times-Dispatch)

Halmode Apparel, a Roanoke-based clothing division of Kellwood Company of Missouri, plans to close its Roanoke plant by September, laying off 200 employees. (03/15/02, The Roanoke Times)

Spring Ford Knitting, an apparel company headquartered in Pennsylvania, plans to close its Chilhowie plant, laying off 150 workers. This closing represents the fourth manufacturer to announce layoffs in Smyth County in the past year. (03/11/02, The Associated Press)

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Divestitures
Sunrise Assisted Living, a McLean-based provider of assisted living facilities for senior citizens, sold 12 assisted living communities in six states for $197 million to an international investor group. (03/25/02, PRNewswire)

Tredegar Corp., an aluminum and plastics manufacturer headquartered in Richmond, will sell its biotechnology divisions, Molecumetics of Bellevue, Wash. and Therics of Princeton, N.J., in order to focus on its core business. (03/23/02, Richmond Times-Dispatch)

XO Communications Inc., a Reston-based provider of broadband communications services, completed the sale of its European Internet service provider business. (02/27/02, Business Wire)

PSINet, a provider of communications services headquartered in Ashburn, plans to sell various assets to Cogent Communications of Washington, D.C., a high-speed Internet access provider, pending bankruptcy court approval. (02/25/02, Washington Business Journal)

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Expansions
Frito-Lay, a Purchase, N.Y.-based division of PepsiCo. Inc., will expand its Lynchburg plant through a $30 million investment for its new Tostitos Scoops product line. One hundred new jobs will be added as a result. (03/26/02, Press release)

Delta Connection, an airline transportation company based in Atlanta, expanded its service to include three daily nonstop flights between Charlottesville and Atlanta using Canadair regional jets. (03/18/02, PR Newswire)

US Airways, a worldwide airline transportation company headquartered in Arlington, plans to restore most of its transatlantic flights between the U.S. and Europe over the next three months. The service had been temporarily suspended when the terrorist attacks of September 11 reduced airline traffic. (03/15/02, PR Newswire)

Barr Laboratories Inc., a specialty pharmaceutical company based in New York, plans to invest $7 million to expand its manufacturing and distribution facilities in Bedford County, creating 75 jobs. Governor Warner approved a $200,000 grant from the Governor's Opportunity Fund to assist Bedford with the project. (03/13/02, Press release)

Star Scientific Inc., a Chester-based technology-oriented tobacco company, plans to expand its manufacturing and processing facility in Mecklenburg County, creating 315 jobs through a $49.9 million investment. (03/12/02, Press release)

Carter Ryley Thomas, an employee-owned public relations company and marketing firm headquartered in Richmond, plans to launch two new practice areas - Energy and RC² (Reputation Change Culture) in order to adapt services to emerging industry and market sector needs. (03/04/02, Press release)

WebMethods, a Fairfax-based systems integration software company, plans to establish a federal services group to boost its percentage of income from government services. (03/01/02, Potomac Tech Journal)

Smithfield Foods Inc., a hog producer and pork processor headquartered in Smithfield, formed Smithfield Deli Group to focus solely on marketing to the retail deli trade. This strategic step will help maintain focus on the value-added facet of the business. (02/27/02, PR Newswire)

Marriott International Inc., a hotel accommodation provider based in Washington, D.C., plans to open a 135-room Courtyard by Marriott in Chester at 2001 West Hundred Road. The hotel will be owned and managed by LTD Management of Chesapeake. (02/25/02, Press release)

Sunrise Assisted Living, a McLean-based company that owns and operates nursing homes, plans to hire about 3,000 employees to support the increasing company growth attributed to newly opened properties. (02/25/02, Washington Business Journal)

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Real Estate
Alcoa Inc., a Pittsburgh-based aluminum company, sold a portion of the former Reynolds Metals corporate site in Henrico County to a Reynolds family partnership for $30 million. Included were two buildings and 50 undeveloped acres. (03/23/02, Richmond Times-Dispatch)

Divaris Real Estate Inc., an international real estate brokerage and property management company in Richmond, signed a lease with New Life Enterprises Corporation for 10,000 square feet of retail space in the 360 West Shopping Center in Richmond. (03/08/02, Press release)

Randall H. Hagner & Company, a full-service real estate firm in Washington, D.C., sold a 9,000-square-foot commercial office building at 225 N. Washington Street in Alexandria for $1.3 million to the National Council for Adoption. (03/04/02, Press release)

Interstate General Co., a diversified real estate developer based in Middleburg, will sell 855 lots in its Brandywine, Md. community for $19.2 million over the next four and one half years to Washington Homes, a Honvanian company. (02/28/02, Press release)

IBM, a computer systems developer headquartered in New York, agreed to lease a 100,000-square-foot building on Sunset Hills Road in Reston. (02/26/02, Washington Post)

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Financing
Xybernaut Corp., a Fairfax-based provider of mobile computing hardware and services, raised $9 million in equity capital through placement of common stock with institutional investors. (03/21/02, Business Wire)

United Dominion, a Richmond real estate investment trust, sold 3,000,000 shares of common stock to Cohen & Steers Capital Management with net proceeds of $42.3 million which will be used for debt reduction and property acquisitions. (03/19/02, Press release)

SAVVIS Communications Corp., a global network services provider headquartered in Herndon, signed an equity funding agreement for $158 million which will be used to reduce debt and increase its customer base. (03/14/02, Business Wire)

ClearCross, a Reston-based global provider of applications for cross-border trade compliance and security, secured an $8 million round of funding from its current investor base to accelerate product research and development and maintain customer care. (03/06/02, Business Wire)

EUROTECH, a Fairfax developer and marketer of chemical and electronic technologies to improve the environmental and security sectors, entered into an agreement with a new capital source for a $10 million private equity line. (03/05/02, Business Wire)

RateIntegration Inc., a software developer headquartered in McLean, raised $9 million in its third venture capital round led by Dolphin Communication Partners of New York. (03/01/02, Potomac Tech Journal)

Managed Objects, a McLean-based developer of monitoring and business analysis software, received a $13 million third round of venture capital funding from FTVentures to help support its rapidly growing customer base. (02/26/02, Potomac Tech Journal)

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