Industries

For the Record - Central Virginia

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Anderson & Strudwick Inc., a Richmond-based, employee-owned stock brokerage has been bought by Wunderlich Securities Inc., a Memphis, Tenn., investment firm. The combined firm will have 380 employees, of which about 80 will staff the Richmond office. (Richmond Times-Dispatch)

Buckingham-Virginia Slate Corp., a producer of slate for the construction market, has been bought by Richmond-area businessmen Mark Claud, Brad Jones and Sam Berger. The 141-year-old company operates two mines in Arvonia and recently hired 38 employees to bring its payroll up to 105. (Richmond Times-Dispatch)

Chesapeake Corp., a Richmond-based specialty packaging company, has filed for Chapter 11 bankruptcy protection and plans to sell itself to a group of investors for about $485 million. The company wants to sell its assets to investors including Irving Place Capital Management LP and Oaktree Capital Management LP, which plan to continue the company’s operations. Most of Chesapeake’s factories are in Europe, where it makes packaging for health care, food and beverage products. (Richmond Times-Dispatch)

Frank Chervan Inc., a Bedford furniture manufacturer, closed its Bedford plant, with a loss of about 90 jobs, citing rising health-care costs and a decline in furniture demand. The company will continue to operate a lumber mill in Bedford and a factory in Roanoke. (The News & Advance)

King William County will establish its first chamber of commerce to provide an umbrella organization as a resource and promotional arm for the county’s 1,300 businesses. West Point has its own chamber; the two groups are expected to work together. (Richmond Times-Dispatch)

LandAmerica Financial Group Inc. sold subsidiary groups that represented 85 to 90 percent of its annual revenue in a reaction to the slow housing market and frozen auction-rate securities market. Fidelity National Financial of Jacksonville, Fla., bought LandAmerica’s title insurance companies for $235 million. The Richmond company plans to sell its remaining subsidiaries, which provide services such as appraisals and property assessments. (Richmond Times-Dispatch)


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