Business

Mitchell County wood-stove manufacturer expands product lines

September 29, 2014

(Asheville Citizen-Times)

The nation's oldest privately-held wood-stove company has expanded its offerings to include patio furniture, fire pits and other outdoor furnishings. Spruce Pine-based Buck Stove, which last year laid off workers for the first time in its 40-year history, has rehired those employees and plans to hire 30 to 50 more.

Chiquita raises value for shareholders in proposed Fyffes merger

September 29, 2014

(The Charlotte Observer)

Charlotte-based Chiquita Brands International and Irish produce company Fyffes revised the terms of their merger agreement to try to win shareholder support. Shareholders will now receive almost 60% of the combined company's stock, up from just over 50% according to the previous agreement.

Gastonia-based Parkdale Mills buys textile plant in Mexico

September 29, 2014

(The Charlotte Observer)

Parkdale Mills is now the sole owner of Summit Yarns, a textile plant in Mexico. The Gastonia-based yarn manufacturer bought half of the operation in 1997; Greensboro-based International Textile Group owned the other half. The plant will continue to supply ITG's Cone Denim plant in Mexico. Parkdale employs more than 4,200 in the U.S., including 400 in Gaston County.

Company could create 40 jobs in Mocksville

September 29, 2014

(Winston-Salem Journal)

A public hearing will be held Oct. 6 to consider incentives for an unidentified global production company that could create 40 jobs in Mocksville. The company would invest at least $8.2 million and could create an additional 20 jobs at a 108,000-square-foot building that could be expanded to 150,000 square feet.

 

Four Oaks Bank names new chief operating officer

September 29, 2014

(The News & Observer, Raleigh)

Four Oaks Bank promoted David Rupp to executive vice president and chief operating officer following the retirement of Clifton Painter. Rupp was senior vice president and strategic project manager at the Johnston County bank since June. Painter, who joined the bank in 1986, will serve as a consultant over the next two years. 

Charlotte nursing school to close in 2016

September 29, 2014

(The Charlotte Observer)

Mercy Hospital School of Nursing will close after its current students graduate in 2016. The school was acquired by Charlotte-based Carolinas HealthCare System when it bought the Mercy Hospital and Mercy Hospital South from Belmont-based Sisters of Mercy in 1995. CHS operates two other nursing schools in the Charlotte area. 

NC's oldest printing companies join together

September 29, 2014

(New Bern Sun Journal)

AlphaGraphics of Downtown Raleigh acquired Commerical Printing Co., a Raleigh-based printing company founded in 1884. AlphaGraphics, now a national franchise and owned by the Andrews family of New Bern for five generations, began as Owen G. Dunn Printing in 1902. Terms were not disclosed. 

LabCorp to buy Raleigh-based LipoScience for $85.3 million

September 26, 2014

(The News & Observer, Raleigh)

LipoScience, a Raleigh-based medical diagnostics company, will be acquired by its largest customer for $85.3 million. Burlington-based LabCorp accounts for about 35% of sales of the company's testing products. LipoScience went public in January 2013 at $9 a share, but hasn't traded above $5.25 a share in the past year.

CLT sells off DesignLine shuttle buses

September 26, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport auctioned off its 10 shuttle buses made by troubled bus manufacturer DesignLine. Maintenance problems and a scarcity of replacement parts made the buses expensive to operate. The local company's assets were sold out of bankruptcy last year to California-based EPV Corp., but the new company has struggled to attract customers.

Sheetz to open $32 million Burlington distribution center

September 26, 2014

(Winston-Salem Journal)

Sheetz is preparing to open a $32.8 million, 250,000-square-foot manufacturing and distribution center in Burlington to serve about 150 of its convenience stores in North Carolina, Virginia and West Virginia. A ribbon-cutting is scheduled for Nov. 12.