Southern Textile Service Inc.
and RD Group 2 LLC invested $8 million to locate
a linen processing facility in Mecklenburg County. Fifty-five
workers will be hired at the new 50,000-square-foot
facility in the Interstate Industrial Park in South
Hill. Southern Textile is associated with Virginia
Linen Service Inc. of Petersburg. Virginia competed
with Delaware and North Carolina for the project. (Press
release)
A new community bank, Virginia Company
Bank, is planned in Newport News in the wake of
TowneBank's purchase of Harbor Bank in
2004. Conway H. Shield II and Jon Nystrom lead a group
of 35 business leaders pledging a combined $5 million
to begin operations. Additional capital will be raised
through a stock offering to be priced at $10 a share.
(Daily Press)
