Industries

For the Record - Central Virginia

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Aker Wade Power Technologies, a Charlottesville-based manufacturer of fast-charging systems for vehicles and forklifts, entered into a licensing agreement to produce and market chargers using patented technology from Tokyo Electric Power Co. Aker is the first U.S. company to license the technology, which will be able to charge vehicles such as the Nissan Leaf and Subaru’s Stella. (News release)

Banker Steel, a Lynchburg manufacturer of steel support structures, received a $50 million contract to provide structural steel for the Barclays Center in Brooklyn, N.Y. The facility, once complete, will be home to the National Basketball Association’s Brooklyn Nets when the team moves from New Jersey. Banker Steel will create 50 jobs as a result of the contract. (News & Advance)

Bank of Virginia agreed to work with regulators from the Federal Reserve Bank of Richmond and the Virginia Bureau of Financial Institutions to improve its capital levels and risk-management practices. The bank began taking steps in that direction last fall, including raising $4.6 million in a private equity offering. (Richmond Times-Dispatch)

CapTech, an IT consulting firm headquartered in Richmond, will hire 50 workers this year for its operations in Richmond and Washington, D.C. The company holds contracts with state and federal government agencies and does work in California, Missouri, Pennsylvania and New York. (Richmond Times-Dispatch)

Evergreen Enterprises Inc., a Richmond-based manufacturer and distributor of home-decor products, bought the retailer Plow & Hearth for $17 million from 1-800-Flowers.com Inc. Plow & Hearth sells products for the home and garden market and has more than 1,000 employees and eight retail locations. No changes in its operations are foreseen. Plow & Hearth began in Madison in 1980 and was sold to 1-800-Flowers.com in 1998. (Richmond Times-Dispatch)

Fort Lee, in Petersburg, will be the site of a seven-story, 1,000-room hotel under plans by the Army to deal with increased presence of military students at the facility once a $1.4 billion expansion of the base is complete by 2011. The hotel was originally proposed as a 15-story structure, but safety and security concerns led to a change in site plans. Final approval is delayed in Congress while concerns by local businesses are addressed. (Richmond Times-Dispatch)

Hanover Foils LLC began operations to fill a void in the supply market left by the closing of some Reynolds Packaging operations in Richmond. The company will supply consumer products packaging and foil for industrial applications. Production will begin this year in an 80,000-square-foot plant in Ashland and about 60 workers will be employed within 18 months. Howard Hager, who worked for Reynolds operations for 24 years, is president of the new company. (Richmond Times-Dispatch)

Harris Williams & Co., a Richmond-based middle market advisory firm, will open an office in London. The company expects increased activity in the mergers and acquisition market this year and seeks to expand its presence in the middle market. Thierry Monjauze, formerly with Deutsche Bank, will head the new office. (Business Wire)

J.C. Penney Co. Inc. will close its catalog call center in Chesterfield County with the loss of about 250 jobs. The move was made because of a decline in call volume to the facility, which handled catalog orders. The company has ceased publication of its big-book catalogs in favor of specialty catalogs and Internet orders. (Richmond Times-Dispatch)

Joe’s Market, a specialty food market in Richmond’s West End, formerly part of the Ukrop’s Super Markets chain, was sold to two former Ukrop’s employees, David Taylor and Buster Wright. A U.S. unit of the Dutch conglomerate Royal Ahold AV recently bought Ukrop’s, but Joe’s Market was not included in that deal. Plans call for renaming the store Libbie Market, to open on Sundays and eventually to sell alcohol, both practices that differ from the Ukrop’s business model. (Richmond Times-Dispatch)

The Nuclear Regulatory Commission fined Babcock & Wilcox, a Lynchburg-based manufacturer of nuclear power systems, $35,000 because employees at its Campbell County facility waited two hours to issue a low-level alert after the discovery of uranium in oil used in a saw to cut fuel components. It was later found the contamination level was not a hazard but the NRC ruled local employees should have acted faster to declare an emergency. (News & Advance)

The Shockoe Co., a new commercial real estate company, was formed by the merger of Kiniry & Co. Inc., Shockoe Properties Inc. and Shockoe Commercial Properties. The new company is a full-service real estate firm that will handle apartments, condos, office, industrial and retail spaces. (Richmond Times-Dispatch)

Randolph College received a $2.7 million gift from the estate of Mary Virginia Whiteside, a 1944 graduate of then-Randolph-Macon Woman’s College, who taught high school and college in Vicksburg, Miss., and lived her later years in Redlands, Calif. Mrs. Whiteside died in 2007. The gift will enter the school’s endowment and fund scholarships in her name for students in financial need. (News & Advance)

SportsQuest, a planned $250 million sports development and tournament facility in Chesterfield County, received $15 million in recovery-zone bonds from the state from federal stimulus funds. The project had earlier received $15 million in bonds through the county. This latest allocation came from a pool of unused bonds from across the state. (Richmond Times-Dispatch)

The University of Virginia Foundation bought a 51,000-square-foot office and laboratory facility in the U.Va. Research Park from Sweden-based Biotage for $5.5 million and leased half the space to NITEK Inc., a Sterling company with an Albemarle County operation to build ground-penetrating radar to detect improvised explosive devices. (Daily Progress)

UPS announced plans to close its Virginia District headquarters in Richmond as part of a nationwide restructuring of management and administrative positions with 40-60 workers expected to be impacted. No small-package workers, about 1,200 of whom work in the Richmond area, were affected by the move. Nationwide the company is cutting 1,800 management or administrative jobs. (Richmond Times-Dispatch)


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