Afton Chemical Corp., a Richmond-based provider
of specialty chemicals, entered into an agreement with
Oryxe Energy International to build a facility in Pasadena,
Texas for the production of OR-LED, a diesel fuel additive. (Business
Wire)
AES Corp., an Arlington power company, will
sell the electricity output from its Buffalo Gap, Texas
facility to Direct Energy Inc., a Texas-based provider
of power services. The purchase agreement covers 15
years. (Business Wire)
Bassett Furniture Inc.,
a furniture manufacturer headquartered in Bassett,
purchased a controlling interest
in eight Bassett Furniture Direct stores in the Dallas
area. Licensees, as part of the company's preferred
strategy, own all but 22 of the 120 existing Bassett
Furniture Direct stores. However, the company determined
that the Dallas stores would do better if run by the
company itself. (The Roanoke Times)
Global Development Partners,
a Washington, D.C.-based commercial real estate developer,
announced
a partnership with Lehman Brothers of New York to finance
a proposed mixed-use project centered on a new baseball
stadium in Richmond's Shockoe Bottom. Lehman will finance
about $50 million and Global $20-25 million. The remainder
of the estimated $330 million development cost will
be debt-financed. City officials had raised questions
about the financing of the proposed project in recent
months, and to date have not made any commitments to
the project. (Richmond Times-Dispatch)
Transaction Network Services Inc.,
a provider of data and network services for financial
markets,
will provide information transmission services for
the Warsaw Stock Exchange and its members on a secure
network. The agreement is Transaction's first contract
in Central and Eastern Europe. (Business Wire)
