Virginia Business - For the Record, June 2000

For the Record
(Updated June 2000)

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:
Holly M. Rodriguez
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.

Categories
Appointments	Contracts	Cutbacks, closings
Deals	Directors	Divestitures
Executive promotions	Expansions	Mergers, acquisitions
New plants, companies	Real estate	Stocks

Appointments
No reports received

Contracts
Anteon Corp., Fairfax: $20 million over 5 years from the General Services Administration to provide environmental compliance support services to all branches of the federal government. (Press release, 5/8/00)

Anteon Corp., Fairfax: $12.3 million over five years from the Naval Undersea Welfare Center Division, for engineering services support of advanced sonar. (Press release, 5/8/00)

Norshipco, Norfolk: $9 million from the U.S. Navy for structural, electrical and mechanical repairs to the USS Whidby Island shipyard. (Press release, 5/3/00)

Cutbacks & Closings
The Stanley Works production plant in Henrico County will close by the end of the year, and 225 jobs will be lost. The production company is relocating to Asia. (Richmond Times-Dispatch, 5/9/00)

The Ingersoll-Rand Co. rock-drill plant in Roanoke County is moving operations to Garland, Texas, taking 245 jobs. (The Roanoke Times, 5/9/00)

International Paper cut 100 jobs at its pulp and paper mill in Franklin. (The Virginian-Pilot, 5/5/00)

Deals
America Online, a Dulles-based interactive services and Internet technologies company, has an agreement with Kideo Productions Inc., a New York-based photo-personalization company and Eastman Kodak subsidiary PictureVision Inc., a Herndon-based online photography company, to co-market Kideo products through AOL’s "You’ve Got Pictures" service. (Business Wire, 5/9/00)

America Online, a Dulles-based interactive services company, and The Coca-Cola Co., an Atlanta-based beverage company, will jointly develop online and offline marketing strategies focused on music, movies, sports, holidays and community aspects. (Business Wire, 5/3/00)

EqualFooting.com, a Sterling-based online shipping company, will partner with Bigstep.com, a San Francisco-based online service center for small businesses to offer members free e-business tools, including Web site construction and customer contact. (Business Wire, 5/8/00)

Directors
Mitchell Jerine, Socrates Technologies, a Vienna-based technology and application services company. (PR Newswire, 5/9/00)

Thomas H. Johnson, Chairman, Chesapeake Corp., a Richmond-based specialty packaging and merchandising company. (Business Wire, 4/27/00)

William L. Collins III, Chairman, Metrocall Inc., an Alexandria-based wireless data and messaging company. (Business Wire, 5/4/00)

Divestitures
No reports received

Executive Promotions
Leslie Collins, CFO and vice president, Career Rewards Inc., an online technology employment agency based in McLean. (Press release, 5/3/00)

Rick Frier, CFO, Concept Five Technologies, a Vienna-based technology company. (Business Wire, 5/9/00)

Charles McNew, CEO, Halifax Corp., an Alexandria-based information technology company. (Business Wire, 5/17/00)

Joseph Sciacca, CFO and vice president, finance, Halifax Corp. (Business Wire, 5/17/00)

Douglas H. McCorkindale, CEO, Gannett News Service, an Arlington-based newspaper and broadcast news company. (Business Wire, 5/2/00)

David R. Norman, president, Schwarzschild Jewelers of Richmond. (Press release, 4/26/00)

Paul K. Suijk, vice president and CFO, Comdial Corp. (Business Wire, 5/3/00)

Expansions
Fisher Scientific Co., a Hampton, N.H.-based scientific and laboratory provider, opened a diagnostics manufacturing plant in Frederick County, creating 50 new jobs. (Press release, 4/26/00)

National Catalog Corp., a Greenwich, Conn.-based division of Distribution Associates, plans to invest $2.5 million in expanding facilities in Henry County. (Press release, 5/16/00)

Dollar Tree Stores Inc. invested $4.8 million to expand the company’s headquarters in Chesapeake. The company expects to open 225 more stores this year. (Business Wire, 5/5/00)

Mergers & Acquisitions
Virginia Natural Gas, a Norfolk-based distributor of natural gas and subsidiary of Dominion Resources Inc., will be sold to AGL Resources Inc. of Atlanta for $500 million in cash. (The Virginian-Pilot, 5/9/00)

Trader Publishing Co., a Norfolk-based publisher of paid and free classified publications, plans to acquire United Advertising Publications Inc., an advertising periodical company based in Dallas, for $500 million. (The Virginian-Pilot, 5/10/00)

AES Horizons Limited, a subsidiary of AES Corp., an Arlington-based global power company, has acquired Tractebel Power Limited for $67 million. This acquisition gives AES 92 percent interest in Nigen, a company owned by Tractebel of Brussels that provides almost a third of Northern Ireland’s electric power. (Press release, 5/12/00)

AES Corp., an Arlington-based global power company, plans to acquire all outstanding common and preference shares of Sao Paulo, Brazil-based Compania de Geracao de Energia Eletrica Tiete, a hydroelectric generation company. AES already owns 43% of the company. (Press release, 4/28/00)

Gannett U.K. Limited, a wholly owned subsidiary of Gannett Co. Inc., an Arlington-based broadcast and newspaper company, plans to acquire News Communications & Media PLC, a Los Angeles, Calif.-based online news company, for $444 million. (Business Wire, 5/5/00)

Metrocall Inc., an Alexandria-based wireless data and messaging company, acquired NationPage from AT&T, a New York-based long distance and wireless telecommunications company, for $12.4 million cash. (PR Newswire, 5/5/00)

New Plants and Companies
PRC Inc., a subsidiary of Woodland Hills, Calif.-based Litton Industries, an information systems company for military, governmental, civil and commercial groups, will open their new headquarters in McLean in 2002. (Press release, 5/3/00)

Real estate
No reports received

Stocks
Digital Commerce Corp., a Reston-based business-to-government services company, filed a registration statement with the Securities and Exchange Commission for an initial public stock offering of $115 million. The number of shares and the price per share were not specified. (SEC Filings, IPO Monitor, 4/10/00)

Maximus McLean-based government consulting and program management services company, has approved a stock repurchase program, authorizing the company to purchase up to $30 million of the company’s stock through market purchases and privately negotiated transactions. (Press release, 5/12/00)

AES Corp. plans to sell $600 million of common stock under its existing universal shelf registration statement. (Press release, 5/8/00)

CENIT Bancorp Inc.’s Board of Directors approved the repurchase of 5%, or 230,00 shares, of the company’s common stock. (Business Wire, 5/1/00)

Chesapeake Corp.’s Board of Directors has renewed authorization for purchase of 1 million shares of the company’s stock through market purchases or in privately negotiated transactions. (Press release, 4/27/00)

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