Business

Concord's Alevo preps for production

May 4, 2015

(The Independent Tribune, Concord)

Alevo Group expects to be producing batteries within six weeks at the 2.3 million-square-foot former Philip Morris cigarette plant in Concord. Scott Schotter, chief marketing and sustainability officer, says the plant could have as many as 20 assembly lines in five years, depending on market demand for its GridBanks product.

Grubb Properties launches new fund

May 4, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties launched a new fund, its fifth since 2009, to raise money for acquiring and developing residential and commercial properties in urban areas.

Film industry spent $241M in NC in 2014

May 1, 2015

(StarNews, Wilmington)

Film and TV productions spent more than $241 million in North Carolina in 2014 and are eligible to receive $60 million in state incentives. More than half the expenses – $137 million – represent productions shot in Brunswick, New Hanover and Pender counties. Fox's Sleepy Hollow was the biggest spender, with expenses totaling more than $43 million.

Former Beazer Homes exec sentenced in Charlotte

May 1, 2015

(The Charlotte Observer)

A former Beazer Homes USA executive was sentenced to 10 years in prison for his role in an accounting scheme that led to hundreds of foreclosures in the Charlotte area. Michael Rand was the Atlanta-based homebuilder's former chief accounting officer.

Lenovo tablet, smartphone sales climb

May 1, 2015

(WRAL TechWire)

Tablet shipments at Lenovo grew 23% in the first quarter compared with the same quarter in 2014, despite slumping sales reported by competitors Apple and Samsung. Smartphone sales also increased, driven by Lenovo's acquisition of Google's Motorola Mobility unit last fall.

NC companies rank on list of top technology innovators

May 1, 2015

(WRAL TechWire)

InformationWeek's 2015 "Elite 100" list of top technology innovators in the United States includes several companies based in or having major operations in North Carolina. Pfizer, Biogen, Merck, Quintiles and the City of Asheville made the list, which features companies that incorporate IT in all aspects of their operations.

Food Lion revenue increases amid store makeovers

May 1, 2015

(The Charlotte Observer)

Delhaize, the Brussels-based parent company of Salisbury-based Food Lion, said first quarter sales at its U.S. stores increased 3.2% to $4.4 billion compared with the same period last year. CEO Frans Muller said the company was encouraged by results at recently renovated Food Lion stores.

Spring lawsuit moved to federal court

May 1, 2015

(Greater Wilmington Business Journal)

A lawsuit filed by former Cape Fear Community College President Ted Spring will now be heard in a federal District Court instead of New Hanover Superior Court. The suit alleges college trustees forced Spring to resign in January. He is seeking reinstatement and at least $25,000 in damages.

Unifi's recycled yarn turns graduations green

May 1, 2015

(News & Record, Greensboro)

About 300,000 college graduates – including ones at Duke, UNC Chapel Hill and N.C. State – will wear caps and gowns woven with Greensboro-based Unifi's Repreve thread, which is made from recycled materials including plastic bottles. The gowns can be recycled again after ceremonies are over.

Thomasville trucking company reports 36.3% gain in net income

May 1, 2015

(Winston-Salem Journal)

Thomasville-based Old Dominion Freight Line reported first quarter net income of $62.5 million compared with $46.9 million a year ago. Revenue increased 12.2% to $696.2 million.