Business

Charlotte area companies land on Fortune 500 list

June 5, 2015

(The Charlotte Observer)

Eight Charlotte-area companies appeared on the Fortune 500 list this year, up from seven in 2014. Sealed Air Corp., which is moving its headquarters from New Jersey to Charlotte, is the area's latest addition. Huntersville's American Tire Distributors Holdings jumped more than 100 spots but just missed the list at No. 514. Fourteen North Carolina-based companies made the list.

Cree recalls 700,000 LED lamps

June 5, 2015

(WRAL TechWire)

Durham-based Cree recalled 700,000 LED lighting tubes due to a burn hazard. The 4-foot tubes, which were manufactured in China, were sold as replacement lamps for fluorescent lighting.
Read more about Cree in BNC's May issue

I-485 could be last 'free' highway in Charlotte

June 5, 2015

(The Charlotte Observer)

Interstate 485 is likely to be the last major highway project in the Charlotte region that does not involve toll lanes. The last segment of Charlotte's outer loop opens today.

FDA panel recommends approval of female libido drug

June 5, 2015

(The News & Observer, Raleigh)

An FDA panel voted to approve Raleigh-based Sprout Pharmaceutical's drug designed to boost the female sex drive. The drug, originally introduced as a depression treatment, was rejected twice earlier.

Uber expands in Charlotte region

June 5, 2015

(The Charlotte Observer)

Ride-booking service Uber is expanding in the Charlotte region and will offer its service in Concord, Cornelius, Davidson and Huntersville beginning Friday.

Florida judge dismisses more Engle cases

June 5, 2015

(Winston-Salem Journal)

A U.S. district court judge in Florida dropped 12 Engle progeny cases and removed 12 abandoned cases. The lawsuits stemmed from a class-action lawsuit filed in1994 against large tobacco companies, including R.J. Reynolds Tobacco, Philip Morris and Lorillard.

Raleigh's Stock Building merging with Atlanta company

June 4, 2015

(The News & Observer, Raleigh)

Raleigh-based Stock Building Supply is merging with an Atlanta-based building materials company. The combined company will be the second largest lumber and building-supplies distributor in the United States. Shareholders of Building Materials Holding will own 60% of the company; Stock's shareholders will own the rest.

BlueScope Buildings investing $9.2M in Scotland County plant

June 4, 2015

(The Fayetteville Observer)

BlueScope Buildings North America will expand its Laurinburg manufacturing plant, adding 115 jobs over the next three years. The company, which makes components for engineered steel buildings, currently employs 38 people at the plant and more than 140 in North Carolina.

Charlotte's Capital Advisors sold to Cleveland firm

June 4, 2015

(The Charlotte Observer)

Capital Advisors will be acquired by Bellwether Enterprise, a Cleveland-based mortgage subsidiary of Enterprise Community Investment. Charlotte-based Capital, which has offices in Greensboro, Raleigh and across the southeast, will change its name but retain all its employees. The deal is expected to close by June 30.

Asheville's AvL Technologies adding 90 jobs

June 4, 2015

(Asheville Citizen-Times)

AvL Technologies will create 90 new jobs in an expansion of its Asheville plant, where it makes mobile satellite antenna systems. Buncombe County commissioners approved incentives of more than $300,000 for the 21-year-old company. AvL will invest at least $11.5 million in facility improvements.