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
ChannelSpace Entertainment Inc., a Norfolk-based producer of customized radio, TV and Web channels for special-interest groups, purchased Canada-based Discscribe, a Web site design house affiliated with Dulles-based America Online Inc., an Internet services company.

Chesapeake Corp., a Richmond-based specialty packaging company, plans to buy Shorewood Packaging Corp. for approximately $480 million in equity plus about $260 million in debt. Shorewood is a New York City-based printing and paperboard packaging supplier.

Consolidated Engineering Services, a subsidiary of Arlington-based Charles E. Smith Residential Realty, purchased Combustioneer Corp., a Rockville, Md.-based mechanical maintenance firm, and AAS Environmental, a Bethesda, Md.-based environmental engineering company. Terms were not disclosed.

Dominion Resources, the Richmond-based parent company of Virginia Power, is buying Pittsburgh-based Consolidated Natural Gas. The Federal Trade Commission approved the deal provided Dominion divests itself of CNG’s Virginia Natural Gas subsidiary.

DynCorp, a Reston-based technology and outsourcing company, purchased GTE Information Systems LLC, a Chantilly-based subsidiary of GTE Corp. GTE Information Systems specializes in information technology and telecommunications services.

EFed, a Reston-based firm specializing in electronic purchasing portals for government agencies, was purchased for $29 million by Kansas-based National Information Consortium. EFed plans to expand its 24-person staff during the next three to six months.

F&M National Corp., a bank holding company based in Winchester, plans to buy The State Bank of the Alleghenies for $53.3 million. The State Bank of the Alleghenies, which has offices in Hot Springs, Covington and Clifton Forge, would operate as a separate subsidiary named F&M –– Highlands.

Friedman Billings Ramsey Group Inc., an Arlington-based investment banking firm, plans to buy Money Management Associates LP and Rushmore Trust and Savings for $17.5 million in cash and a $10 million note.

Gannett Co., an Arlington-based publishing company, purchased Tucker Communications Inc., a New York-based newspaper company. Terms were not disclosed.

Maximus, a government services company based in McLean, acquired California-based Norman, Roberts & Associates, an executive recruitment firm. It also purchased the New York-based Center for Health Dispute Resolution, a national provider of external review for Medicare beneficiaries, and Delaware-based Public Systems Inc., a developer of case management systems.

Primus Telecommunications Inc., a McLean-based provider of international and domestic long-distance services, acquired Munich, Germany-based Touchnet GmbH, an Internet service provider.

Template Software Inc., a Dulles-based software provider, is being purchased for $49 million in cash and stock by North Carolina-based Level 8 Systems Inc., a manufacturer of e-commerce systems.

Whitney Rand Manufacturing, a Hampton-based steel erection company, is being acquired by California-based Rapid Rack Industries Inc., which specializes in materials handling systems. Rapid Rack plans to retain Whitney Rand’s 40 employees and add 60 jobs to the facility.

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Divestitures
Telos Corp., an Ashburn-based provider of e-business solutions, announced the sale of its 250-employee computer maintenance and service business to TFE Technology Holdings of Utah for an undisclosed amount.

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Expansions
Ball Corp., a Colorado-based manufacturer of metal and plastic packaging, plans to invest $11 million in its existing Bristol facility. The expansion will create 40 jobs at the plant, which produces aluminum can ends.

Capital One Financial Corp., a Falls Church-based credit card company, plans to add 1,200 jobs and a $30 million service center to its Fredericksburg campus. The new center is expected to open next spring, and additional buildings are planned to house the new workers.

Henry County Plywood plans to invest $1.9 million and add up to 25 jobs in Henry County during the next 30 months The capital investment will include more than $1.2 million in machinery, equipment and real estate plus a $600,000 increase in working capital.

Inova Healthcare Systems, based in Falls Church, has broken ground on the five-story, $37 million, 140,000-square-foot Inova Franconia Springfield Medical Center in Springfield. Completion is scheduled for spring of 2001.

Norfolk Southern Corp., a railroad company, plans to spend $250 million to increase capacity and improve traffic flow along its expanded railway system.

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Deals
Capital Advantage, a Merrifield-based producer of online political tools, signed an agreement with Yahoo! to provide congressional information and related content to the California-based Internet services company.

Carroll’s Foods Inc., a subsidiary of Smithfield-based Smithfield Foods Inc., agreed to pay a $20,000 fine and upgrade two of its farms near Wakefield to resolve water-pollution problems. The company also must submit an application for a new pollution permit and conduct a study of its overall impact on local waters.

Datatel Inc., a Fairfax-based provider of information technology for institutions of higher education, plans to partner with New Jersey-based Timecruiser Computing Corp. to develop a Web portal called Campus-cruiser.com that would connect campus communities.

Network Solutions Inc., a Herndon-based registrar of Web addresses, and IBM announced plans to cooperatively market their respective Internet identity and Web site creation and hosting services.

Roadrunner, a Herndon-based broadband online service, and Entertainment Boulevard, an Internet media provider, reached an agreement to deliver Entertainment Boulevard’s content to Roadrunner’s 420,000 subscribers.

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New Plants and Companies
Process Integration Co., a Meridien, Conn.-based maker of automotive wheels, plans to locate a $16 million plant in Russell County. The facility is expected to create 50 jobs.

Utility Trailer Manufacturing Co., plans to locate a dry freight trailer manufacturing plant in Washington County. The company’s $14 million investment would create 300 jobs. California-based Utility Trailer already employs 900 people at a refrigerated trailer plant in Smyth County.

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Stocks
American Management Systems, a Fairfax-based information technology consulting firm, plans to buy back up to 2 million shares of its common stock.

Chesapeake Corp., a specialty packaging company headquartered in Richmond, plans to repurchase up to 2 million shares of its common stock between Oct. 14, 1999, and Sept. 14, 2000.

TeleCorp PCS Inc., a wireless telephone company based in Arlington, has filed a registration statement for an initial public offering with the Securities and Exchange Commission.

United Dominion Realty Trust Inc., a Richmond-based real estate investment trust, announced that all eight of its outside directors and 28 of its officers have purchased 1.4 million shares of common stock on the open market for approximately $11.7 million.

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Cutbacks & Closings
Tultex Corp., a Martinsville-based clothing manufacturer, plans to lay off 3,300 workers nationwide over the next year.

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Executive Promotions
David Bosher, CFO, Cadmus Communications Corp., a Richmond communications company.

Peter Bostrom, chief technology officer, ExactOne.com, a Herndon-based Internet technology firm.

Khalid Chandry, vice president of engineering, ATC Teleports, a Fairfax-based subsidiary of American Tower, which provides communication services.

James J. Condon, CEO, CyberCash Inc., a Reston-based e-commerce firm.

Richard W. Coon, vice president of sales, The Rutherfoord Cos., a Richmond-based insurance firm.

Elliot Gerson, CEO, Lifescape LLC, an online mental health information provider.

John Hatem, vice president of operations, ATC Teleports.

Thomas M. Jordan, senior vice president, Leitch Technology Corp. of Chesapeake.

Paul L. Klasing, executive vice president of merchandising and marketing, Advance Auto Parts Co., an auto parts retailer based in Roanoke.

Kimberly McCreery Kuo, senior vice president of investor relations, Value America, a Charlottesville-based online retailer.

Ronald C. Kuykendall, vice president of corporate communications, American Management Systems, a Fairfax-based information technology consulting company.

Tim McGough, vice president of human resources, Capital One Financial Corp., a Falls Church-based credit card company.

Timothy J. Perrott, vice president of investor relations, Orbital Sciences Corp., a space technology company based in Dulles.

Joseph Postiglione, vice president, SRA International Inc., a Fairfax-based information technology firm.

David R. Reid, executive vice president and COO, Advance Auto Parts.

Wharton B. Rivers Jr., president, Cable & Wireless North America, a Vienna-based technology company.

William Seippel, CFO, Digital Commerce Corp., a Reston-based e-commerce solutions company.

Margaret Sutherland, vice president, Richmond-based Charter One Mortgage Corp., a residential mortgage lender.

Bruce Thomas, executive vice president and COO, Cadmus Communications.

J.R. Thompson, president and COO, Orbital Sciences.

Jim Wade, president and chief administrative officer, Advance Auto Parts.

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Contracts
BTG, Fairfax: $52 million for a series of deals over three to five years from U.S. defense and intelligence agencies.

Computer Equity Corp., Chantilly: $6 million to upgrade cabling for the Department of Justice.

Consolidated Engineering Services Inc., Arlington: a contract to operate and maintain three buildings totaling 1.1 million square feet in Northern Virginia and Washington, D.C.

Delisheries Ltd., Cape Charles: $400,000 for sugar and oatmeal cookie mixes and brownie mixes to the Navy.

Diversified Technology and Services of Virginia Inc., Newport News: $20.5 million from NASA for research equipment operations.

DynCorp, Reston: $32.4 million from the General Services Administration for information technology services at four Air Force research labs.

Maximus, McLean: $42 million from the Maryland Department of Human Resources for child-support enforcement services in Baltimore City and Queen Anne’s County.

Unisys, McLean: $67 million from the Social Security Administration for infrastructure modernization.

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Real Estate
Armada/Hoffler Holding Co., a Chesapeake real estate firm, is planning a $200 million development in the Pembroke area of Virginia Beach. The project would include retail and office space, movie theaters, a hotel and apartments.

Harwood Leasing and Management, a McLean-based developer, has preleased Reflections I, a 123,546-square-foot building to be built overlooking the Dulles Toll Road, to Raytheon Co. Massachusetts-based Raytheon plans to use the building as the headquarters for its technical services division, which is currently based in Vienna.

Pace Construction and Development Corp. and BW Investment Corp., both based in Virginia Beach, plan to buy 131 acres of woodlands along Indian River Road in Virginia Beach from the city of Norfolk for an undisclosed amount. As part of the deal, 81 acres of wetlands on the property would be deeded to the city of Virginia Beach and the remaining 50 acres would be developed by Pace Construction into a housing community.

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Directors
Miles R. Gilburne, America Online Inc.

Stephen Goldsmith, Maximus, a McLean based government services company.

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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 .