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 Leila Marija Ugincius at VIRGINIA BUSINESS, 411 E. Franklin St., Suite 105, Richmond, Va. 23219, e-mail it to ForTheRecord@va-business.com, or fax it to (804) 649-6311.

MERGERS & ACQUISITIONS

America Online plans to add Internet navigator

America Online Inc., the world's largest Internet service provider, hopes to purchase Netscape Communications Corp., which provides the popular Internet browsing software. America Online of Dulles has more than 14 million subscribers, and Netscape of California has 20 million visitors to its Netcenter web site each month. The deal would create the most formidable competition yet for software giant Microsoft. If the deal proceeds, Netscape shareholders will receive 0.45 shares of America Online stock for each of their Netscape shares.

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Two giant oil companies to create largest gas firm

Virginia could be losing its largest public company. Mobil Corp. of Fairfax, a $3.3 billion oil and gas company, is being purchased by Exxon Corp. of Irving, Texas, for $73.7 billion. The new Exxon Mobil Corp. is expected to pare its work force by 9,000 and bring in more than $200 billion in annual revenues. The company will be headquartered in Texas and will have more than 48,000 gas stations worldwide. Refining and marketing operations will remain in Fairfax. Mobil and Exxon are spinoffs of the Rockefellers' Standard Oil empire.

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Advanced Auto Parts, a Roanoke-based chain of auto-parts stores, purchased Western Auto Supply Co. from Sears, Roebuck & Co. for an undisclosed amount. The purchase will bring about 175 jobs to the Roanoke area.

AES Corp., an Arlington-based power company, plans to purchase Cilcorp Inc., a Peoria, Ill.-based energy services company, for $885 million.

CarMax, the used-car division of Richmond-based Circuit City, purchased its first new-car dealership, a Maryland Toyota franchise, from Laurel Automotive Group Inc. Terms were not disclosed.

Goodman & Co., a Norfolk-based public accounting firm, merged with H. Schwarz & Co. of Roanoke. Terms were not disclosed.

Microdyne Corp., an Alexandria-based technology and services company, is being bought by L-3 Communications Holdings Inc. of New York for $90 million.

NEW PLANTS AND COMPANIES

Gannon Technologies Group, a subsidiary of St. Louis-based Gannon International, plans to open an electronic image conversion center in Warsaw. The company plans to invest $12 million and employ 400 at the facility.

Southwest Marine Holdings Inc., a ship repair company that purchased Norfolk's Norshipco in September, plans to move its headquarters from San Diego to Norfolk and change its name to U.S. Marine Repair.

EXPANSIONS

Amerigroup Corp., a Virginia Beach-based health care company, plans to triple its work force of 300 by the end of the year to handle its growing business. Amerigroup expects to double its revenues this year.

DIVESTITURES

Versar Inc., a Springfield-based consulting and engineering firm, sold its Houston subsidiary, SMC McEver Inc., to Ref-Chem Construction Corp. of Houston for an undisclosed amount.

CUTBACKS & CLOSINGS

A&P, a Montvale, N.J.-based grocery chain, plans to close 17 Farmer Jack and Super Fresh stores in the Hampton Roads area, laying off more than 600 workers.

Norshipco, a Norfolk shipyard, plans to lay off 200 workers in addition to the 550 layoffs it announced late last year.

EXECUTIVE PROMOTIONS

Gary R. Brandt, president and COO, Marine Hydraulics International Inc., a Norfolk-based ship repair company.

I. Lee Chapman III, president and CEO, Mobility Inc., a Richmond-based printer.

Werner Lieberherr, president, ABB Power Generation Inc. of Midlothian.

Dennis D. Matteucci, CEO, Cable & Wireless USA, a Vienna-based communications company.

Philip B. Rogers, president and COO, Consolidated Engineering Services, a subsidiary of Arlington-based Charles E. Smith Residential Realty.

John S. Schneider, president, United Dominion Realty Trust of Richmond.

DIRECTORS

Thomas S. Gaynor, Markel Corp., a Richmond-based insurance company.

CONTRACTS

Cotton & Co., Alexandria: $10 million over five years from the U.S. Department of State and other federal agencies for audit and accounting services.

G.W. Peoples Contracting Co., Alexandria: $12.3 million from the Army for construction services.

Hampton Roads Mechanical Contractors Inc., Chesapeake: $1.6 million from the Air Force for property maintenance and repairs.

Hilton's Environmental Inc., Newport News: $2.1 million from the Navy for mess attendant services.

Mitre Corp., McLean: $83 million from the Treasury Department for research and development.

Orbital Sciences Corp., Dulles: $26 million from the University of Colorado for a scientific satellite.

Pinkerton Computer Consultants Inc., Alexandria: $3.3 million over three years from the Federal Deposit Insurance Corp. for support services and $2 million over three years for re-engineering and developing the FDIC computer system.

Reid Associates Inc., Virginia Beach: $12 million from the Navy for maintenance and repairs.

Sherikon Inc., Chantilly: $2.8 million from NASA's Jet Propulsion Laboratory for records management and archival services.

Snap Contracting Corp., Norfolk: $3.2 million from the Navy for construction services.

Woodbury Construction Co., Chesapeake: $1.7 million from the Navy for utilities and housekeeping.

STOCKS

S&K Famous Brands of Richmond plans to repurchase up to $2.5 million of its common stock.

Telos Corp., an Ashburn-based information technology company, purchased 410,000 shares of its common stock for $4 per share.

© FEBRUARY 1999, VIRGINIA BUSINESS MAGAZINE