Industries

For the record - Central Virginia

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Babcock & Wilcox, a Charlotte, N.C.-based nuclear power company, received a five-year $130 million order from the Navy for nuclear reactor components in its Virginia-class submarines. The order will be filled at the company’s Lynchburg operation. (News & Advance)

Brooks Food Group, a Bedford provider of frozen specialty foods, closed it operations with the loss of 119 jobs. The company cited financial pressures from the loss of a major account and market pricing pressures. (The Roanoke Times)

James C. Justice Cos. Inc., a private holding company in Turbeville, S.C., bought the Wintergreen Resort in Nelson County. Wintergreen had recently faced issues from a mild winter, loss of a $3 million credit line and a tax dispute with the state. Justice owns two travel destinations in West Virginia, The Greenbrier Resort in White Sulphur Springs, and The Resort at Glade Springs in Daniels. (The Associated Press)

SportsQuest, a Chesterfield County sports complex originally envisioned as a $250 million Olympic-style training and competition venue, was sold at auction to Shaw Industries Group Inc. for $5 million. Shaw, a carpet manufacturer which provided artificial turf at the facility, will honor the 20-year lease agreement SportsQuest made with the county for use of athletic fields at the site. (Richmond Times-Dispatch)

The State Fair of Virginia was bought for $5.67 million by Universal Fairs LLC, a Tennessee-based fair and festival operator. The fair, run by the nonprofit SFVA Inc., had operated from a 331-acre site at The Meadow Event Park in Caroline County since 2009. Plans call for the fair to be held beginning Sept. 28. (Richmond Times-Dispatch)

Richmond-based SunTrust Mortgage Inc. has agreed to pay $21 million to more than 20,000 African-American and Hispanic borrowers, including thousands in Virginia, who federal officials say were charged higher prices for mortgage loans based on their race and national origin, not their creditworthiness. SunTrust Mortgage admitted no wrongdoing in agreeing to to the settlement. (Richmond Times-Dispatch)

The Washington Redskins will move their summer training camp to Richmond for an eight-year run beginning in 2013. The venue for the camp has not yet been identified but Richmond has included $400,000 in its capital budget as a placeholder for the project. The city estimates that the summer camp will generate $5 million to $6 million in local economic activity. (Richmond Times-Dispatch)

The University of Richmond’s Robins School of Business was named the top international business program in the country by Bloomberg Businessweek. It is the second consecutive year the program has been so honored. The school ranked in the top 20 in six specialty categories. (Richmond Times-Dispatch)

Richmond Bon Secours Richmond Health System received the Health and Wellbeing Award from the Virginia Hospital & Healthcare Association for its employee wellness program. Begun with 100 workers in 1993, it now serves more than 7,100. (News release)

MeadWestvaco Corp., a Richmond-based provider of packaging solutions, completed a spinoff and merger of its consumer and office products units with ACCO Brands Corp. The deal allows MeadWestvaco to concentrate on its packaging operations. (Business Wire)

Michael and Son, an Alexandria heating and air conditioning company, bought the former Wyeth plant off Interstate 95 in Richmond from The Rebkee Co. for $1.9 million. Rebkee had bought the property in September 2011 for $1.65 million. (Richmond BizSense)

Bear-Granville Corp., a Charlottesville property management company, leased offices in Richmond’s Manchester area. The firm recently bought a portfolio for management of 300 single- and multi-family homes, primarily around Virginia Commonwealth University. (Richmond BizSense)

 

 


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