For the record - Central Virginia
- August 31, 2012
Babcock & Wilcox, a Lynchburg manufacturer of nuclear power systems, entered into an agreement with FirstEnergy Corp. in Ohio to study uses for B&W’s mPower nuclear reactor. The companies will undertake a financial review, site evaluations and a pre-licensing analysis. B&W plans to file a design application with the Nuclear Regulatory Commission in 2013. (The News & Advance)
Innovative Wireless Technology, a Lynchburg-based provider of wireless solutions for commercial, public sector and defense clients, bought the former federal courthouse in downtown Lynchburg for $960,000 with intent to use the 36,000-square-foot facility as its headquarters. (The News & Advance)
Liberty University hired Hotel Equities, an Atlanta-based hotel management company, to oversee the Wingate by Wyndham hotel it bought for $9.2 million in a foreclosure auction. The university intends to continue operating the 131-room facility as a hotel. (The News & Advance)
The Lingerfelt Cos., a Richmond commercial real estate company, bought five Class A office properties in Nashville, Tenn., from Highwoods Properties. The three sites total almost 500,000 square feet. (PRNewswire)
Media General Inc., a Richmond-based television and digital media company, laid off 75 workers, about one-third of its staff, at its corporate headquarters. The cutbacks were expected after the company recently sold 63 newspaper properties to Berkshire Hathaway Inc. (Richmond Times-Dispatch)
James W. Orr Jr. and his wife, Vicki, pledged $2.2 million to the University of Virginia toward an endowed chair in gynecologic oncology. The gift came as a result of the university’s reinstatement of President Teresa A. Sullivan. Orr is medical director of the Regional Cancer Center and Florida Gynecologic Oncology in Fort Myers, Fla. (The Daily Progress)
Owens & Minor Inc., a Mechanicsville-based Fortune 500 medical products distributor, is acquiring Movianto Group from Celesio AG for $158 million. Movianto is a logistics firm for pharmaceutical and medical device manufacturers.
Southern States Cooperative, a Richmond-based supply and service cooperative for farmers and homeowners, laid off 150 workers companywide. The streamlining effort came about from a restructuring and reassessment on how technology had affected its operations.
United Dominion Realty, a Colorado-based real estate investment trust, sold the Richmond rental properties Dominion Creekwood and Dominion West End to New York real estate firm DRA for $80 million. The properties, which total 850 rental units, were part of a $297 million deal which also included sites in Jacksonville, Fla., and Dallas. (Richmond BizSense)