Business

ITG Brands begins layoffs in Greensboro

March 21, 2016

(Winston-Salem Journal)

The third-largest U.S. tobacco company has cut 20 salaried jobs in Greensboro. ITG Brands warned employees last month that job cuts were coming but didn't provide a timeline. ITG has about 1,700 workers in Greensboro, including 1,100 production workers.

PPD quiet on reports of potential sale

March 21, 2016

(StarNews, Wilmington)

Pharmaceutical Product Development's private-equity owners have remained tight-lipped since reports surfaced three months ago that the company was exploring a possible sale or initial public offering. PPD, which is owned by Carlyle Group and Hellman & Friedman, employs about 1,400 people at its downtown Wilmington headquarters.

Charlotte's EnPro Industries agrees to $480M settlement in asbestos case

March 21, 2016

(The Charlotte Observer)

Diversified manufacturer EnPro Industries will create a $480 million trust that will cover current and future asbestos claims against two of its subsidiaries, Garlock Sealing Technologies and Coltec. Based in Charlotte since 1999, EnPro was spun out of Goodrich in 2002. The company had $1.2 billion in sales in 2015.

Megasite skeptics to join Randolph commissioners

March 21, 2016

(News & Record, Greensboro)

Randolph County voters last week elected two county commissioners who are expected to take a more critical look at the Greensboro-Randolph Megasite than their predecessors. Republicans Kenny Kidd and Maxton McDowell will run unopposed in November, all but ensuring they will join the commission at year-end.

Duke to produce energy from swine, poultry waste

March 21, 2016

(The Charlotte Observer)

Four of Duke Energy's natural-gas plants in North Carolina will produce electricity from biogas made from swine and poultry waste. The Charlotte-based utility signed an agreement to buy enough of the methane gas, produced by Boulder, Colo.-based Carbon Cycle Energy, to power about 10,000 homes a year.

HondaJet approved for delivery in Mexico

March 18, 2016

(News & Record, Greensboro)

Honda Aircraft has received certification to begin delivering its HondaJet light aircraft in Mexico. The company received FAA certification in the U.S. in December and delivered its first jet on Dec. 23. Honda Aircraft employs about 1,700 people at its Greensboro manufacturing plant.

Corporate sales robust for 2017 PGA Championship in Charlotte

March 18, 2016

(The Charlotte Observer)

PGA officials are considering expanding corporate hospitality offerings for the 2017 PGA Championship, which will be held at Quail Hollow Club in Charlotte, even though the event is still more than a year away. "That's almost unheard of at this point," said tournament director Jason Mengel.

Novant to anchor mixed-use project in Brunswick County

March 18, 2016

(Greater Wilmington Business Journal)

Novant Health is the first tenant lined up for Pine Forest Plantation, a mixed-use development in Brunswick County. The Winston-Salem-based health care provider plans to open a 30,000-square-foot medical office building at the 2,114-acre site.

Raleigh's Medical Mutual partners with Sentinel Risk Advisors

March 18, 2016

(The News & Observer, Raleigh)

Raleigh's Medical Mutual Insurance Co. acquired a minority stake in Sentinel Risk Advisors, also based in Raleigh. Sentinel will take over the company's commercial insurance business, which generates about $5 million in annual premiums. Medical Mutual is the state's largest medical malpractice insurer.

BofA director Gifford to retire

March 18, 2016

(The Charlotte Observer)

In a proxy filing Thursday, Bank of America said that Chad Gifford, a director at the Charlotte-based bank since 2004, will retire. The bank has nominated Thomas Woods to replace Gifford. Woods is a former executive at Toronto-based Canadian Imperial Bank of Commerce.
Related: Moynihan defends Bank of America size