Business

Indian drug-maker mulls Monroe plant expansion

January 22, 2015

(The Charlotte Observer)

Glenmark Pharmaceuticals is considering a $9.5 million expansion of its new Monroe plant, which isn't scheduled to begin production until April. The Mumbai, India-based company announced in July it would invest $17 million in the manufacturing plant, where it will make generic drugs. Union County and Monroe unanimously approved incentives for the expansion.

Vertex Rail to ramp up hiring in February

January 22, 2015

(StarNews, Wilmington)

Vertex Rail Technologies CEO Don Croteau said the company will begin hiring production workers in February and will build its first sample rail car in March or April. Vertex plans to invest $60 million and hire 1,300 people at the former Terex plant in Wilmington. Croteau says potential revenues could total $600 million to $800 million.

Krispy Kreme adding shops in Russia

January 22, 2015

(Winston-Salem Journal)

Winston-Salem-based Krispy Kreme Doughnuts will add 15 doughnut shops over five years in the St. Petersburg area of Russia through an agreement with its Moscow-area franchise partner.

Toshiba names new leader for Charlotte-based business

January 22, 2015

(The Charlotte Observer)

Toshiba named Ali Azad president and CEO of Charlotte-based Toshiba America Energy Systems, which was formed as part of a corporate reorganization and combines three of the Japanese company's existing businesses. Azad was president of Massachusetts-based BHI Energy. The new company will employ about 500 people.

Wilmington gains daily flights to Atlanta, New York

January 22, 2015

(Greater Wilmington Business Journal)

American Airlines will resume a second flight from Wilmington International Airport to New York City in February, and Delta will increase its daily flights to Atlanta from five to six in March.

Durham's Square 1 Bank reports record net income in fourth quarter

January 22, 2015

(The News & Observer, Raleigh)

Square 1 Financial reported net income of $9.5 million in the fourth quarter, compared with $8.8 million in the previous quarter. The Durham-based bank, which lends money and provides other banking services to venture-capital firms, said net income for 2014 rose 54% compared with 2013, to $34.1 million.

New Hoke County hospital could open by March

January 22, 2015

(The Fayetteville Observer)

Construction is almost complete at Cape Fear Valley Health's Hoke County hospital, which could open its doors in February or March. The 41-bed hospital is less than 3 miles from FirstHealth of the Carolinas' eight-bed hospital that opened in October 2013.

Chapel Hill's Milton Julian dies at 96

January 22, 2015

(The News & Observer, Raleigh)

Milton Julian, who owned the iconic Milton's Clothing Cupboard in downtown Chapel Hill from 1948 until 1992, died Saturday. He was 96. 

Cumberland commissioners approve hearing for chicken plant

January 21, 2015

(The Fayetteville Observer)

Cumberland County commissioners approved a public hearing for a Sanderson Farms chicken-processing plant that could create 1,000 jobs, though the Mississippi-based company says it is no longer interested in building a plant there. 

Report: Salix hires investment firm to explore potential sale

January 21, 2015

(The News & Observer, Raleigh)

Salix Pharmaceuticals has hired Centerview Partners to explore options for the Raleigh-based drugmaker, including a possible sale, according to a Reuters report. Salix CEO Carolyn Logan announced her retirement earlier this month, leading to speculation that the company was looking to be acquired.