Business

Franklin Graham calls for boycott of Wells Fargo, others

June 9, 2015

(The Charlotte Observer)

North Carolina evangelist Franklin Graham says he will move his ministries' bank accounts out of Wells Fargo because of the bank's ad featuring a same-sex couple. He did not disclose to which bank he was moving the accounts, which could total hundreds of millions of dollars. Graham said he will compile a list of companies that feature same-sex couples in ads and will encourage people to boycott those corporations.

Chapel Hill's Pozen moving headquarters to Ireland

June 9, 2015

(The News & Observer, Raleigh)

Chapel Hill-based Pozen will acquire Tribute Pharmaceuticals Canada for $146 million and will reincorporate in Ireland, which has a lower corporate tax rate. The company will change its name to Aralez Pharmaceuticals. Pozen will receive $300 million from investment-management firm Deerfield to establish the new company and support the launch of Yosprala, a treatment for heart disease and stroke patients.

Tobacco merger expected to close June 12

June 9, 2015

(Winston-Salem Journal)

Reynolds American is expected to complete its acquisition of Greensboro-based Lorillard on June 12. A federal judge gave final approval for the cigarette manufacturers to sell five brands to Imperial Tobacco Group. Its is unclear how many jobs, if any, will be impacted by the deal, which is currently valued at $29 billion (the final deal value will be set at the end of trading on Thursday).

Durham's Patheon plans to go public

June 9, 2015

(The News & Observer, Raleigh)

Durham-based Patheon, a contract pharmaceutical manufacturer, is looking to raise up to $100 million in a public offering. The company, which went private last year when it merged with Netherlands-based DSM Pharmaceutical Products, reported revenue of $1.7 billion in 2014 and employs 8,700 worldwide.

Wilmington's GNF gets $100M contract

June 9, 2015

(Greater Wilmington Business Journal)

Wilmington-based Global Nuclear Fuel, a General Electric-led venture with Hitachi and Toshiba, said one of its customers signed a contract extension valued at more than $100 million. The agreement will allow GNF to provide fuel reloads at four of New Orleans-based Entergy's power plants through 2021.

Raleigh apartment complex sells for $45.8 million

June 9, 2015

(The News & Observer, Raleigh)

Boston-based AEW acquired north Raleigh's Bainbridge Six Forks apartments for $45.8 million, or about $172,000 per unit. Florida-based The Bainbridge Companies was the seller of the 266-unit complex.

Enviva's storage domes near completion at Port of Wilmington

June 9, 2015

(Greater Wilmington Business Journal)

Enviva has almost finished construction on one of two wood-pellet storage domes at the Port of Wilmington. A second dome will be finished in about six weeks. The Bethesda, Md.-based company says each dome will be able to hold up to 45,000 metric tons of wood pellets, which are used as a cleaner alternative to coal.

Kroger promotes former Harris Teeter president

June 9, 2015

(The Charlotte Observer)

Kroger named Fred Morganthall senior vice president of retail divisions. Rod Antolock, currently executive vice president of Harris Teeter, will become the president of the Matthews-based subsidiary. Cincinnati-based Kroger acquired Harris Teeter in January 2014.

Electrolux cuts jobs, reconsiders expansion

June 8, 2015

(The Charlotte Observer)

Electrolux has cut less than 1% of its North American workforce, including an unspecified number of Charlotte employees. A company spokeswoman said the cuts are related to improving the appliance-maker's financial performance. Electrolux also is evaluating a planned $85 million Charlotte expansion as the company awaits regulatory approval for its $3.3 billion acquisition of General Electric's appliance business.

DENR issues permits for coal-ash storage in Chatham, Lee counties

June 8, 2015

(WRAL.com)

The N.C. Department of Environment and Natural Resources approved permits for Duke Energy to store coal ash in open-pit clay mines in Lee and Chatham counties.