Triad

Winston-Salem-based Targacept's sale to Catalyst nears completion

August 20, 2015

(Winston-Salem Journal)

Shareholders of Targacept approved the sale of the company to San Francisco-based Catalyst Biosciences. The drug-development company once employed 144 people in Winston-Salem; few of its 10 remaining employees are expected to work for Catalyst after the deal closes, which could be as soon as Thursday.

Candy-maker begins production in Mebane

August 19, 2015

(The Times-News, Burlington)

Morinaga has begun production at its candy factory in Mebane. The Japanese company, which makes Hi-Chew, a candy that gained popularity in Asian markets and can now be found in convenience and grocery stores across the U.S., is investing more than $48 million in the plant and plans to hire 90 workers by 2018.

Excess revenue increases more than 36% at Cone Health

August 19, 2015

(Winston-Salem Journal)

Greensboro-based Cone Health reported excess revenue – the same as profit for a nonprofit organization – of $57 million, an increase of 36.6%.

BB&T to acquire National Penn Bancshares

August 18, 2015

(Winston-Salem Journal)

Two weeks after completing its acquisition of Susquehanna Bancshares, BB&T said it will purchase National Penn Banchshares, based in Allentown, Pa., in a cash and stock deal valued at about $1.8 billion. National Penn has assets of $9.6 billion and 124 offices in Pennsylvania, New Jersey and Maryland.

Woods to play Wyndham for 1st time

August 18, 2015

(News & Record, Greensboro)

Tiger Woods will play in Greensboro's Wyndham Championship for the first time. The first round of the golf tournament, held at Sedgefield Country Club, begins Thursday.

Two developers interested in Winston-Salem City Center parking deck.

August 14, 2015

(Winston-Salem Journal)

Grubb Properties of Charlotte and Tight Line Partners of Winston-Salem have shown interest in acquiring a 730-space parking deck from the city of Winston-Salem, a city official said. The property is expected to sell for about $2 million. Tight Line is run by veteran Triad developer John Reece, while Clay Grubb heads Grubb Properties.

 

Developer wants city to help with renovations

August 13, 2015

(Winston-Salem Journal)

 

Developer Mike Coe wants the city of Winston-Salem to help renovate the downtown Pepper Building for stores and 54 apartments. 

HAECO eager to expand, waiting on permits

August 7, 2015

(News & Record, Greensboro)

HAECO Americas, formerly Timco Aviation, is awaiting state and federal permits to build a new, 180,000-square-foot hangar near Piedmont Triad International Airport. The company plans to add 400 jobs to its existing 1,600 when the expansion is complete.

ZeekRewards receiver releases another $89M

August 7, 2015

(Winston-Salem Journal)

Ken Bell, the court-appointed receiver in the ZeekRewards.com case, issued 112,734 checks totaling $89.2 million to victims of the Lexington-based Ponzi scheme, bringing total distributions to $246.05 million. Another distribution is planned for Oct. 31.

High Point groups agree on merger

August 6, 2015

(High Point Enterprise)

Members of the High Point Chamber and High Point Partners voted unanimously to merge into one economic-development group. Business High Point has secured pledges from 22 businesses that have agreed to contribute $20,000 annually to the group.

GKN, Nypro consider expansions in Alamance County

August 4, 2015

(The Times-News, Burlington)

Alamance County commissioners unanimously approved incentives for GKN Driveline to build a $6.3 million distribution center to support its three regional plants. The 134,000-square-foot facility would support 13 new jobs with an average annual salary of $55,000. Commissioners also approved incentives for manufacturer Nypro to create 75 jobs at a new warehouse facility.

BB&T completes its largest purchase

August 4, 2015

(Winston-Salem Journal)

BB&T completed its $2.5 billion acquisition of Lititz, Pa.-based Susquehanna Bancshares Monday. The cash-and-stock deal is the largest in the Winston-Salem-based bank's history and gives it 240 branches in Pennsylvania, Maryland, New Jersey and West Virginia.

Megasite group awaits state decision on incentives

August 3, 2015

(News & Record, Greensboro)

The Greensboro-Randolph Megasite Foundation has options to purchase 1,400 acres of land for a manufacturing megasite, but the group can't promote the site to prospective employers until knowing what type of incentives the state will provide.

High Point drug developer raises $117M in IPO

July 31, 2015

(Xconomy.com)

High Point-based vTv Therapeutics raised $117 million in its initial public offering. The company plans to use up to $80 million of the proceeds for a Phase 3 clinical trial of its treatment for Alzheimer's disease. vTv stock opened Thursday at $14 a share and fell 28.6%, closing at $10.71.

Hanesbrands reports sixth consecutive quarter of record revenue

July 31, 2015

(Winston-Salem Journal)

Hanesbrands reported $94.9 million in net income for the second quarter, compared with $154.6 million a year ago. The decrease was due to costs related to acquisitions of DBApparel and Knights Apparel. Revenue increased 13.4% to a record $1.52 billion. International sales were up 101.2%.

Federal judge dismisses Herbalife suit

July 31, 2015

(Winston-Salem Journal)

A U.S. District Judge in Los Angeles threw out a lawsuit against Herbalife, the nutritional products manufacturer that plans to employ 800 people in Winston-Salem by 2018. The Oklahoma Firefighters Pension and Retirement System and other shareholders had sued the company, claiming they lost money after Herbalife was accused in 2012 of operating a pyramid scheme.

Hanesbrands data breach affects 900,000

July 30, 2015

(Winston-Salem Journal)

Hanesbrands said about 900,000 online and telephone customers were affected by a data breach in June. A company spokesman said hackers accessed data including addresses, phone numbers and the last four digits of credit card numbers.

Qorvo earnings fall short of expectations

July 30, 2015

(News & Record, Greensboro)

Qorvo, the Greensboro-based semiconductor company formed from the merger between RF Micro Devices and TriQuint, posted $2 million in profit for the second quarter, compared with $6.5 million in the first quarter. It's a sharp decline from the $43.8 million the combined companies posted in the second quarter of 2014. Revenue was 23.3% higher than the combined companies a year ago.

LabCorp posts strong 2Q results

July 29, 2015

(The Times News, Burlington)

LabCorp reported net income of $168.4 million for the second quarter, a 19% increase over $141.3 million the previous year. Revenue increased 46.3%, due in part to the Burlington-based company's $6 billion acquisition of New Jersey-based contract-research organization Covance.
Also: LabCorp names new executive vice president for Covance

Reynolds American announces stock split

July 29, 2015

(Winston-Salem Journal)

The board of directors of Reynolds American approved a two-for-one stock split and a 7.5% increase to its quarterly dividend. The Winston-Salem-based company also raised is 2015 earnings forecast by 7 to 10 cents.