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:
Holly Rodriguez
Virginia Business
P.O. Box 85333
Richmond, Va. 23293

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

Mergers & Acquisitions
Whitney Rand, a Hampton-based steel shelving manufacturer, was acquired by California-based Rapid Rack, a competitor. As part of the deal, Rapid Rack plans to spend $5.1 million to expand Whitney Rand's existing facilities. Rapid Rack also plans to retain all 40 of Whitney Rand's employees and hire an additional 60 employees for its new facility. Terms of the deal were not disclosed.

Rapid Rack's plant will serve as the headquarters for the company's East Coast manufacturing operations, says Jack Schrader, Rapid Rack's CFO. The company was granted $75,000 from the governor's deal-closing fund to acquire land adjacent to Whitney Rand's existing plant. "The city of Hampton and the state have been very helpful," Schrader says. "We were impressed with Virginia because of the large employment force here and its impressive ports."

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Bassett Furniture Industries, a Bassett-based furniture manufacturer, agreed to merge its corporate store operations with five Bassett Furniture Direct stores, which are operated by Phillip and Ronnie Ladin, the company's most successful licensees. The agreement calls for Bassett's 10 corporate stores and the Ladins' five stores to be merged into a new company. Terms were not disclosed.

ChannelSpace Entertainment, a Norfolk-based technology company, acquired Discribe, a New Brunswick, Canada-based Web site development company that partners with America Online.

Cheely Burcham Eddins Rokenbrod & Carroll merged with VanHuss & Walls. Both are Richmond-based accounting firms. Terms were not disclosed.

Gannett Co., an Arlington-based news and information company, acquired Tucker Communications, a newspaper publishing company based in Westchester, N.Y. Terms were not disclosed.

Maximus Inc., a government service company based in McLean, acquired the Rochester, N.Y.-based Center for Health Dispute Resolution, a national provider of external review for Medicare beneficiaries enrolled in HMOs. Terms were not disclosed.

Telos Corp., a technology company based in Ashburn, sold its computer maintenance and services business to TFE Technology Holdings, a Bountiful, Utah-based computer maintenance and service provider, for $10 million.

Template Software Inc., a Dulles-based software company, was acquired by Cary, N.C.-based Level 8 Systems Inc., a technology company, for $49 million in cash and common stock.

Transaction Network Services, a Reston-based data communications company, acquired Sligos Payment Services, an England-based provider of ATM management services. Transaction Network Services acquired the company through its UK holding company, TNS Trans-Xpress Holding Co. Terms were not disclosed.

Unicity Schools, an Ashburn-based child-care company, was acquired by Dedham, Mass.-based Mulberry Child Care Centers. Terms were not disclosed.

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Deals
America Online, a Dulles-based Internet service provider, and Gateway, a San Diego-based computer company, agreed to combine their sales and distribution channels and capabilities in the development of hardware, software and Internet content. As a result of the agreement, the companies will co-market products and services.

AnnuityNet.com a Leesburg-based online annuity retailer, and OnMoney.com, a White Plains, N.Y.-based financial management Web site, formed an alliance to provide AnnuityNet.com's investment information on OnMoney.com.

Network 1 Financial, a McLean-based bankcard processing company, and Fairfield, Conn.-based buyroad.com, an online service company, formed a partnership to provide online credit card transactions for buy-road.com's customers.

Network Solutions, a Herndon-based Internet technology company, and Yupi.com, a Miami Beach, Fla.-based Spanish language search engine, agreed to promote Network Solutions' Web address registration services on Yupi.com. The deal allows Network Solutions to expand services in Latin America and provides Yupi.com users with additional service.

Online Resources & Communications Corp., a McLean-based Internet banking company, and MyWay.com, an Andover, Mass.-based online services company, formed an alliance to provide a service through which banks, thrifts and credit unions can offer their customers and members personalized Web start pages. The pages will have a direct link to the customers' financial account information and online banking services.

Value America, a Charlottesville-based online retailer, and Mail.com Inc., a New York-based Internet messaging company, agreed to sell computer and electronic products through the Mail.com Marketplace, an e-mail accessible shopping service provided by Mail.com.

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New Plants and Companies
Utility Trailer Manufacturing Co., a City of Industry, Calif.-based manufacturer, plans to build a dry freight trailer facility in Washington County. The company would invest $14 million and create 300 jobs. The new plant will be the company's second in Virginia. Utility Trailer has a plant in Smyth County that employs more than 900.

Bob Maki, plant manager in Smyth County, says the new facility will be up and running by August. Maki says the company chose Washington County because of the good experience it has had in Virginia. "We know the area, and our suppliers are located throughout the East so it's a good location," Maki says.

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CBF, a Cedar Bluff-based metal fabrication company and subsidiary of Huntington, W.Va.-based metal manufacturer Tranfab, plans to open a manufacturing facility in Tazewell County. The company would invest more than $2.5 million in the project and create 40 jobs.

Lion Apparel Inc., a uniform manufacturer based in Dayton, Ohio, and Vallen Corp., a Houston-based distributor of safety supplies and medical equipment, will open a shipping facility in Suffolk. Earlier this year, the two companies entered a joint venture with the U.S. government to fulfill a $110 million contract to distribute military clothing. The facility, which will operate in an existing location, will initially hire 25 people with the possibility of hiring more than 60 over the next three to five years.

Norfolk Southern Corp., a Norfolk-based railroad company, formed a subsidiary to lease space on its network to other companies. The new company, Thoroughbred Technology & Telecommunications Inc., is negotiating with long-distance and local phone carriers to lay additional fiber-optic cable along its rail beds or lease the land to the carriers. It will be based in Norfolk.

Southern Financial Bancorp, a Warrenton-based financial services company, established a subsidiary, Southern WebTech.com, to develop and maintain bank operating systems. The new company will be based in Warrenton. Aidan H.F. Harland has been named president and CEO.

Super Sac Bag Inc., a Dallas-based bulk-bag manufacturing company and subsidiary of Dallas-based B.A.G. Corp., plans to open a second manufacturing facility in Lee County. The company will invest $1.6 million and plans to hire 180 employees.

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Expansions
Architectural Graphics, a Virginia Beach-based commercial sign manufacturer, plans to spend about $2 million to double its 48,000-square-foot facility. The company expects to spend $4 million more over the next five years, adding another 50,000 square feet. Architectural Graphics plans to add 150 positions during each phase.

ESI International, an Arlington-based project- and contract-management company, opened offices in Chicago and San Francisco.

Excalibur Technologies, a Vienna-based software company, opened a sales and support office in Munich, Germany.

Harris Williams & Co., a Richmond-based investment banking company, plans to open an office in San Francisco. Three employees from the company's Richmond office are in charge of the new venture.

International Business Corp., a Fairfax-based information technology company, opened an office in Bangalore, India, through its overseas arm, IBC-India. The 25,000-square-foot building will house 250 employees. The company also opened a new office in San Jose, Calif.

Lake Lithograph, a Manassas-based printing company, expanded its office space from 25,000 square feet to 45,000 square feet. The company consolidated so that all of its operations could be under one roof. In addition to the physical expansion, the company added three presses and hopes to add digital color imaging and die-cutting to its list of services.

Stihl Inc., a Virginia Beach-based subsidiary of the German power equipment and tool manufacturer, plans to expand its 440,000-square-foot facility in Virginia Beach by 22,000 square feet. The plant's addition will house the company's employee services division.

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Cutbacks & Closings

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Stocks
TeleCorp PCS, an Arlington-based telecommunications company, filed a registration statement with the Securities and Exchange Commission for an initial public stock offering. Neither the number of shares nor the offering price was specified.

United Dominion Realty Trust, a Richmond-based real estate investment trust, announced that eight of its outside directors and 28 of its officers purchased 1 million shares of common stock for about $11.7 million. The purchase increased their ownership in the company by almost 1 percent.

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Directors

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Executive Promotions
James M. Cochrane, vice president, First Virginia Operations Services, a Falls Church-based bank holding company.

A. William Hamill, executive vice president, United Dominion Realty Trust of Richmond.

Terry Hileman, CFO, Advanced Communications Systems Inc., a Fairfax-based communications company.

Steven J. King, president of business operations, Sumitomo Machinery Corp. of America, a Chesapeake-based machine manufacturing company.

Mark J. Lardieri, vice president, The Regis Group Inc., a Leesburg-based consulting company.

Patricia W. Roseberry, vice president, First Virginia Operations Services.

David M. Schaumburg, CFO, Compec, a Chantilly-based technology company.

Richard Tyson, vice president of sales, Vastera, a Dulles-based technology company.

George E. Wilson, executive vice president, MMM Design Group, a Norfolk-based engineering, architectural and planning firm.

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Contracts
Atlantic Ordinance & Gyro Inc., Norfolk: $3.2 million from the Navy for ships.

CACI Inc., Fairfax: $49 million from the Navy for professional, administrative and management-support services.

Datex Inc., Falls Church: $20.9 million from the U.S. Agency for International Development for administrative support services.

Federal Market Group, Manassas: $4.7 million from the General Services Administration for administrative-support services.

Resource Consultants Inc., Vienna: $4 million from the Federal Supply Service for support services.

Sectek Inc., Herndon: $3.6 million from the Treasury Department for government facility operations.

TRW Inc., Reston: $40 million from General Services Administration for environmental services.

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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 Holly Rodriguez at Virginia Business, P.O. Box 85333, Richmond, Va. 23293, fax it to (804) 649-6311, or e-mail it to ForTheRecord@va-business.com .

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