Apple REITs Co., a Richmond-based real estate investment trust company, plans to combine four non-traded REITs as a possible move to a listing on a major stock exchange. The four companies are Apple REIT Six., Seven, Eight and Nine, which own 254 hotels with 30,796 rooms. (Commercial Real Estate Direct.com)
Barboursville Vineyards signed an agreement with the Tianjin Tewoo Group to export wine to China. The deal is believed to be the first commercial transaction between a Virginia winery and a Chinese importer. (Richmond Times-Dispatch)
C.F. Sauer, a Richmond-based food products company, sold its Dean Foods margarine operation to Bunge North America, based in St. Louis. Bunge plans to close a Sauer plant in Kansas and continue operating Sauer’s facility in eastern Henrico County. (Richmond Times-Dispatch)
Cuore, a telemarketing firm serving the travel and insurance industries, will hire at least 400 workers at its Chesterfield County call center. (Richmond Times-Dispatch)
Dominion Resources Inc., a Richmond energy company, will construct a natural gas processing facility in Natrium, W.Va. The first phase of the operation will be complete by December 2012. Dominion will process 200 million cubic feet of natural gas and fractionate 36,000 barrels of natural gas liquids per day at the plant. (Richmond Times-Dispatch)
Elephant Insurance Services LLC, of Henrico County, expanded its auto insurance operations into Illinois. In March the company started offering policies in Maryland, its first foray outside Virginia. (Richmond Times-Dispatch)
Fareva, a Luxembourg-based manufacturer, plans to purchase and expand Pfizer’s consumer products manufacturing plant in Henrico County, creating 90 new jobs while saving 500 current positions. Pfizer and Fareva have reached a manufacturing and supply agreement that will allow the plant to continue to produce Pfizer consumer products. (VirginiaBusiness.com)
The Arthur Graham Glasgow and Margaret Branch Glasgow trusts bequeathed $70 million to the Virginia Museum of Fine Arts and $45 million to Virginia Commonwealth University. Mrs. Glasgow’s father was a prominent Richmond banker in the early 20th century, and Mr. Glasgow, a native of Botetourt County, was an executive in the power industry before his death in 1955. (Richmond Times-Dispatch)
Piedmont Virginia Community College is offering a 10-week “analyst boot camp” for persons seeking to qualify for positions in the defense intelligence sector. The college made the move after the Defense Intelligence Agency brought about 800 jobs to the Charlottesville area. (The Associated Press)
The University of Virginia’s Darden School of Business set a record in its annual fundraising drive with a total of $3.5 million. The result was an increase of 17 percent over 2010. Darden has been self-sufficient since 2003, operating solely from gifts and tuition. (The Virginian-Pilot)
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