Industries

For the Record - Southwest Virginia

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Advance Auto Parts Inc., a Roanoke-based car parts retailer, agreed to a deal to become title sponsor for the Advance Auto Parts Monster Jam, a series of monster truck events held across the country. The company has had a relationship with Monster Jam dating back to 1997 and in 2004 became the official auto parts retailer for the series. (News release)

Bristol Virginia Utilities received $3.5 million from the Virginia Tobacco Commission to extend its fiber-optic broadband system 49 miles, up Interstate 81 from Abingdon and into Grayson County. Once complete, the network will have a second connection to Mid-Atlantic Broadband, which carries communications traffic into Northern Virginia, enhancing its broadband business service. (News release)

The Federal Trade Commission approved Carilion Clinic’s plan to sell two outpatient centers to settle charges it was stifling competition. The FTC challenged Carilion’s 2009 purchase of the Center for Advanced Imaging and the Center for Surgical Excellence, charging Carilion was absorbing low-cost alternatives to its services. The two centers will be divested in the first quarter of 2010. (The Roanoke Times)

Luna Innovations Inc. and Hansen Medical Inc. settled the breach-of-trade-secrets case that drove Luna into bankruptcy. Luna, a Roanoke–based technology company, will pay Hansen $5 million over four years and give it a license to use Luna’s fiber-optic technology. The settlement allowed Luna to emerge from bankruptcy in January. (The Roanoke Times)

Synchrony Inc., a manufacturer of magnetic bearings based in Roanoke County, received an order for 150 drive trains worth $16 million from McQuay International. The products will be used in McQuay’s high-efficiency Magnitude chillers. (The Roanoke Times)

Universal Fibers Systems, a manufacturer of fibers and yarns for carpet, upholstery and other textile uses, will invest $13 million to expand its production facility in Washington County. The project will create 84 jobs. (News release)

Virginia Tech’s undergraduate architecture program was ranked tops in the nation in the annual study of America’s Best Architecture and Design Schools by DesignIntelligence. Tech was previously ranked second in the country, behind Harvard University. (News release)

 


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