Industries

For the Record - Eastern Virginia, December 2012

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Amerigroup Corp., based in Virginia Beach, plans to sell its Virginia operations after antitrust questions from the Department of Justice arose on its pending sale to Wellpoint Inc. Under the definitive agreement, Amerigroup would sell its Virginia operations to Inova, a nonprofit health-care system based in Northern Virginia. The sale is conditional on the closing of Amerigroup’s sale to Wellpoint, which also has operations in Virginia. (VirginiaBusiness.com)

Norfolk-based A. Reddix & Associates (ARDX) has been awarded a contract to provide technical assistance to “stakeholders” involved in the creation of health insurance exchanges under the federal health-care reform law. ARDX specializes in health-care management consulting services with expertise in Medicare and Medicaid. (VirginiaBusiness.com)

Ferguson Enterprises Inc., the Newport News-based wholesale plumbing distributor, has acquired Davis & Warshow Inc., New York. Davis & Warshow will continue to conduct business under its current name with the existing management team. This is Ferguson’s sixth acquisition in the past 14 months. (Richmond Times-Dispatch)

Norfolk-based Harbor Group International LLC announced that affiliates of the company have acquired the 820 First Street office building in Washington, D.C., for $107 million. The building’s anchor tenant is the Washington headquarters of CNN (Cable News Network). Harbor Group International is a private real estate investment and management firm.  (VirginiaBusiness.com)

Newport News Shipbuilding, a division of Huntington Ingalls Industries, has received a contract valued at $142.7 million for work on operational and decommissioning Navy submarines. It also includes work on conversion submarines, special mission submersibles, submarine support facilities and related programs. (The Associated Press)

Portfolio Recovery Associates, based in Norfolk, has been named to Forbes’ list of “100 Best Small Companies in America.” The specialized financial and business services company ranked 23rd. It also ranked No. 8 on Forbes’ “10 Hot Companies Hiring Like Crazy,” the only Virginia company on the list. (VirginiaBusiness.com)

TowneBank opened its new 18,000-square-foot Towne University and its 50,000-square-foot Member Services Center. Towne University will serve as a training facility for 1,500 bank employees. The Member Services Center is 50,000 square feet and will house offices and most of the bank’s operations. (Inside Business)

U.S. 460 toll project construction is expected to start in 2014, with the road opening in 2018. The toll road is aimed at helping freight traffic move swiftly and easily out of the state’s Hampton Roads marine terminals, which are major economic engines for the commonwealth. (Richmond Times-Dispatch)

Virginia Beach Town Center is going to get bigger. The city’s staff is moving forward with a development agreement for a new, Class A, 174,000-square-foot tower at the 17-block, mixed-use project that serves as the resort city’s downtown.  The tower would include an 850-space parking garage, 267-unit apartment building and 18,000 square feet of new retail space. (The Virginian-Pilot)

 

 


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