Industries

For the Record - Central Virginia

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Ashbury International Group, a manufacturer of optical devices and small arms for the defense and security sectors, will invest $5 million in expanding its operations in the Greene County Business and Technology Park in Ruckersville. Once complete, the company will abandon its Albemarle County facility. (Daily Progress)

Capital One Financial Corp., a McLean-based financial services company, cut 124 positions in its credit card services unit. The cuts mostly affected the company’s Goochland County campus. (Richmond Times-Dispatch)

Chesapeake Corp., a Richmond-based packaging company, was sold to investment firms Irving Place Capital Management LP and Oaktree Capital Management LP for $485 million. The sale, approved by a bankruptcy judge, came after Chesapeake failed to secure any qualifying bids at auction. (Richmond Times-Dispatch)

Klockner Pentaplast, a manufacturer of plastic films for packaging based in Germany, laid off 38 workers at its Louisa County plant. (Richmond Times-Dispatch)

McGuireWoods LLP, a Richmond law firm, announced a merger with the London law firm Grundberg Mocattta Rakison LLP. The new London office will operate under the McGuireWoods name. (News release)

Owens-Illinois Inc., a Perrysburg, Ohio, manufacturer of glass containers, will invest $20 million to upgrade equipment at its James City County plant to increase efficiency and capabilities. The plant employs 180 workers. (News release)

The U.S. Supreme Court let stand a $79.5 million judgment against Richmond cigarette manufacturer Philip Morris USA in a product liability case brought by Mayola Williams, whose husband died of lung cancer. With interest, the judgment in the 10-year-old case totals $155 million. The company said it would challenge the 60 percent of the award slated to go to the state of Oregon. (Richmond Times-Dispatch)


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