Business

Georgia offered Mercedes-Benz $7.9M more than NC

April 1, 2015

(The Charlotte Observer)

North Carolina offered Mercedes-Benz USA incentives totaling $15.4 million to encourage the automaker to move its headquarters from New Jersey to Raleigh, while Georgia offered $23.3 million, documents show. The company, a division of Germany-based Daimler, announced in January it had chosen Atlanta for the project.

International Paper to invest $135M in NC plant, layoffs to follow

April 1, 2015

(StarNews, Wilmington)

International Paper plans to invest $135 million in its Columbus County plant, but the upgrades will result in the loss of an unspecified number of jobs. The conversion, expected to be completed by mid-2016, will allow the mill to move to 100% production of fluff pulp that is used in products including baby diapers. The company employs 740 people at the plant.

Reynolds subsidiaries debut new products

April 1, 2015

(Winston-Salem Journal)

R.J. Reynolds Tobacco will launch Camel White, a premium-branded cigarette, in 21 western and midwestern states. Reynolds American sudsidiary American Snuff, which makes the top-selling Grizzly-branded snuff product, also introduced a new dark wintergreen flavor Tuesday.
Related: Reynolds confronting antitrust concerns over Lorillard merger, Bloomberg Business

Durham app developer acquired by Ticketmaster

April 1, 2015

(The News & Observer, Raleigh)

Ticketmaster will acquire Durham app developer Two Toasters for an undisclosed amount. Two Toasters has developed apps for brands including Regal Cinemas, Lexus and Dick's Sporting Goods. Following the sale, the company will work exclusively on Ticketmaster projects.

Aquesta, CommunityOne buy CertusBank branches

April 1, 2015

(The Charlotte Observer)

Aquesta Bank will acquire a CertusBank branch in Charlotte's SouthPark neighborhood. It will be the seventh branch for the Cornelius-based bank and its first in Charlotte. Greenville, S.C.-based CertusBank, which was started in Charlotte by former Wachovia and Bank of America executives, also plans to sell a Lenoir branch to Charlotte-based CommunityOne Bancorp.

Durham's BioCryst awarded up to $35M for Ebola treatment

April 1, 2015

(The News & Observer, Raleigh)

Durham-based drug developer BioCryst Pharmaceuticals will receive up to $35 million in federal funding to accelerate clinical studies for its experimental Ebola treatment.

President of Wake Forest Baptist Health steps down

March 31, 2015

(Winston-Salem Journal)

Karen "Bobbi" Carbone is stepping down as president of Wake Forest Baptist Health, a division of Wake Forest Baptist Medical Center. Carbone joined the division in March 2014 as chief operating officer and became president when Thomas Sibert retired in August. The Winston-Salem-based health system said Carbone is leaving "to pursue other opportunities." Mike Rutherford, chief financial officer, also plans to step down in April.

Volvo will invest $500M in US auto plant

March 31, 2015

(The News & Observer, Raleigh)

Volvo said Monday it will invest $500 million to build a new car-manufacturing plant in the United States, and reports have said North Carolina is one of several states in the running. The company said it has "drawn up a short list" of potential sites; The Wall Street Journal reported the location will be announced in about a month.

Bathtub manufacturer laying off 87 in Wilson

March 31, 2015

(The Wilson Times)

Bathcraft will close its Wilson manufacturing plant and lay off 87 workers. The Remerton, Ga.-based company, which makes showers and tubs for residential homes, said it is closing the plant due to continued uncertainty in the housing market.

Report: Tobacco companies face final FTC review

March 31, 2015

(Winston-Salem Journal)

Reynolds American and Lorillard this week could hold a final meeting with members of the Federal Trade Commission regarding the companies' proposed $27.4 million merger, according to a report in The Wall Street Journal. The tobacco companies said they expect the deal to close by June 30. Shareholders of both companies approved the merger in January.