Industries

Hampton Roads—For the Record

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Aniesh Corp. of Norfolk purchased the 350-room Radisson Hotel Norfolk for $10 million from RHN Hotel Associates LLC. The 12-story hotel will continue to operate as a Radisson facility, and a comprehensive improvement plan will be undertaken. (News release)

Canon Virginia Inc., a Newport News-based subsidiary of Canon U.S.A., plans to invest $600 million to upgrade and expand its operations for manufacturing, repair and refurbishing of Canon products. Its Industrial Resource Technologies Inc. subsidiary in Gloucester County will also expand under the project. The investment is expected to create more than 1,000 new jobs. (News release)

The Hipage Co. Inc., a customs broker and international freight forwarder in Norfolk, has acquired local competitor W.M. Stone & Co. for an undisclosed amount. All full time W.M. Stone employees have been offered positions at Hipage, which employs 150 and has annual revenue of more than $250 million. (News release)

Norfolk Southern Corp. settled a lawsuit by Avondale Mills over a train wreck and toxic chemical spill in Graniteville, S.C., which led to Avondale’s closing. Details were not released, but the company had sought $420 million from the railroad. The 2005 accident and subsequent release of chlorine gas claimed nine lives and forced a widespread evacuation of the area. Avondale’s facilities were coated by the caustic chlorine, and it was determined it would cost more to clean and replace assets than the business was worth. (The Virginian-Pilot)

Northrop Grumman Corp. received from the Navy a $453 million contract for maintenance and dry-dock repair work on the nuclear carrier USS Enterprise. The operation will take 16 months to complete. (The Virginian-Pilot)

Steven D. Bell & Co. of Greensboro, N.C., bought the Haygood Shopping Center on Independence Boulevard in Virginia Beach from Klaff Realty LP of Chicago and Acadia Realty Trust of White Plains, N.Y., for $25 million. The shopping center has 178,526 square feet of retail space. (News release)

The Virginia Port Authority signed a memorandum of understanding with the Tangier Mediterranean Special Agency to increase the flow of trade between Morocco and Hampton Roads. The VPA has similar agreements with the Suez Canal Authority, the Xiamen Port Authority and the Panama Canal Authority. (The Virginian-Pilot)

Virginia Beach became eligible for $403,220 in grant funds from Virginia for use in protecting agricultural land. Since 1995 the city on its own has protected more than 7,300 acres of rural land from development. The grant is part of a $4.2 million program assisting 14 localities in the purchase of development rights on agricultural property. (News release)


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