Business

Charlotte-based Dynacast sold for $1.1 billion

December 18, 2014

(The Charlotte Observer)

A Swiss investment-management firm will buy Charlotte-based Dynacast International for $1.1 billion. Dynacast makes metal components for small electronic devices such as car key fobs and operates 23 manufacturing plants in 16 countries.

New Hanover Regional reports $53M surplus

December 18, 2014

(StarNews, Wilmington)

New Hanover Regional Hospital reported an operations surplus of $53.5 million for fiscal year 2014, more than double the projected amount. 

Union County, Monroe approve $917K in incentives for Scott Safety

December 18, 2014

(The Charlotte Observer)

Union County and the city of Monroe approved incentives of up to $917,000 for Scott Safety, a division of Ireland-based Tyco International, to invest $28 million in an expansion of its local plant. The company would add 67 jobs to its existing 600. Scott Safety, which makes respiratory-protection and other safety products for law-enforcement officials, is also considering sites in England and India. 

Credit union regulator sues BofA, US Bancorp

December 18, 2014

(The Charlotte Observer)

The National Credit Union Administration Board filed a lawsuit claiming Bank of America and US Bancorp failed as trustees for mortgage-backed securities following the 2008 credit crisis.
Related: Countrywide whistleblower to receive more than $57M

President of Hoke Healthcare resigns

December 18, 2014

(The Fayetteville Observer)

Velvette Jones resigned earlier this month as president of Hoke Healthcare, part of Fayetteville-based Cape Fear Valley Health System. Jones was hired in fall 2013 to help launch the health system's 41-bed hospital in Hoke County, which is expected to open in February. 

$26M Cherokee Justice Center opens

December 18, 2014

(The Sylva Herald)

The Eastern Band of Cherokee Indians opened a $26 million justice center Wednesday near downtown Cherokee. The 76,000-square-foot center will house a tribal police station, courthouse and a 96-bed jail.

Greensboro hotel group proposes 104-room Asheville hotel

December 18, 2014

(Asheville Citizen-Times)

Asheville's hotel boom continues with a proposal for a five-story, 104-room hotel near Merrimon Avenue and Interstate 240. Greensboro-based CN Hotels owns the property, which would be developed by a Greensboro-based group listed as Asheville Property. The city's zoning commission is scheduled to review the project Jan. 7. 

New economic-development agency proposed for Guilford

December 18, 2014

(News & Record, Greensboro)

Officials from Guilford County, High Point and Greensboro are considering establishing a new, countywide economic-development group for recruiting business to the area. Greensboro and High Point currently have separate job-recruiting agencies.

Cary's The Pantry nearing deal to be sold

December 17, 2014

(The Wall Street Journal)

Cary-based The Pantry, which operates more than 1,500 convenience stores primarily under the Kangaroo Express banner, has hired an investment bank to solicit bids for the company. A buyer could be announced within days, according to people familiar with the matter.

Two pension funds in talks with BofA over Moynihan's dual roles

December 17, 2014

(The Charlotte Observer)

The California State Teachers' Retirement System and the office of the New York City Comptroller confirmed they are in discussions with Bank of America regarding the bank's decision to change its bylaws – and name CEO Brian Moynihan chairman – without a shareholder vote.