Triad

NewBridge closes merger with Raleigh's CapStone Bank

April 2, 2014

(The Winston-Salem Journal)

Greensboro-based NewBridge Bancorp has completed its acquisition of Raleigh-based CapStone Bank, which has four branches in the Triangle area. The deal, which was announced in November, gives NewBridge assets of $2.4 billion and a total of 40 branches.

BNC Bancorp completes purchase of Albemarle's South Street Financial

April 2, 2014

(The Winston-Salem Journal)

High Point-based BNC Bancorp has completed its acquisition of South Street Financial Corp., parent of Home Savings Bank of Albemarle. The purchase gives BNC four additional branches and $278 million in assets. BNC previously announced plans to purchase the parent company of Chapel Hill-based Harrington Bank; when that deal closes it will have $3.4 billion in assets.

B/E Aerospace announces $600 million in new contracts

April 1, 2014

(The Winston-Salem Journal)

Wellington, Fla.-based B/E Aerospace announced contract awards from seven major airlines worth a total of $600 million and raised its earnings guidance for fiscal 2014 by 5 cents a share. B/E makes commercial aircraft components and now employs more than 1,300 at its plant in Winston-Salem. 

Heritage Home Group auctioning seventeen properties

March 31, 2014

(Winston-Salem Journal)

Seventeen properties formerly occupied by Furniture Brands International have been put up for auction, including nine in North Carolina. Others are in Mississippi, Tennessee and Virginia. Heritage Home Group, which bought assets of St. Louis-based Furniture Brands after the company filed for bankruptcy protection last year, said last week it plans to close its Pearson Co. plant in High Point by Aug. 31.

BB&T Insurance Services to acquire Woodbury & Co.

March 31, 2014

(Winston-Salem Journal)

BB&T Insurance Services will acquire Woodbury & Co., which employs more than 50 at offices in Wilmington and Myrtle Beach, S.C., by April 1. Financial terms of the deal were not disclosed.

Group to propose alternate plan for Guilford prison farm site

March 31, 2014

(The News & Record, Greensboro)

Opponents of "Project Haystack," a proposed megasite in eastern Guilford and Western Alamance counties, say the development would destroy farmland and cost Guilford County taxpayers millions of dollars. PLACE (Public Lands for Agricultural and Community Enrichment) – one group opposed to the project –  is developing alternative plans for the land.

Lowes Foods increases efforts to buy local

March 31, 2014

(The News & Record, Greensboro)

Lowes Foods has quadrupled the number of small and midsized farmers from which it buys over the past six years. The Winston-Salem-based company owns and operates more than 100 grocery stores in the Carolinas and Virginia. 

Pearson furniture plant to close in High Point

March 28, 2014

(High Point Enterprise)

Heritage Home Group announced it will close the Pearson Co. home-furnishings plant in High Point, laying off 86 workers by August. The Pearson plant, founded in 1942, merged with Lane Home Furnishings in the 1970s, which later became part of Furniture Brands International. Heritage Home acquired assets of Furniture Brands last year.

Burlington nonprofit to add 70 jobs

March 28, 2014

(The News & Record, Greensboro)

Industries of the Blind Greensboro, which employs visually impaired workers, will add 70 employees in an expansion of its apparel-manufacturing center in Burlington. President David LoPresti said he expects about 75% of the new hires will be blind. The nonprofit currently employs about 200 people.

Swofford makes it official: Brooklyn to host ACC tournament in 2017, 2018

March 27, 2014

(The News & Observer, Raleigh)

ACC Commissioner John Swofford confirmed Wednesday that the men's basketball tournament will be held at the Barclays Center in Brooklyn in 2017 and 2018. The addition of Syracuse, Pittsburgh and Notre Dame to the conference swayed the ACC's decision to move the tournament to New York.The Greensboro Coliseum will host the tournament in 2015, while the Verizon Center in Washington, D.C. will host it in 2016. Read how John Swofford and the ACC kept the conference viable through expansion in our September 2012 cover story 

RF Micro signs deal with Air Force research lab

March 26, 2014

(The Winston-Salem Journal)

Greensboro chip-maker RF Micro Devices signed a $9.7 million agreement with the Air Force Research Laboratory to produce monolithic microwave integrated circuit technology for defense applications, including radar and military communications.

Novant Health opens Lexington specialty clinic

March 26, 2014

(The Dispatch, Lexington)

Winston-Salem based Novant Health opened the Lexington Medical Pavilion, a specialty clinic that will make it more convenient for Lexington residents who would otherwise have to travel to Thomasville  for treatment. Specialists will share office space and each will offer limited hours per week.

Developer plans $10.2 million Greensboro apartment complex

March 26, 2014

(The News & Record, Greensboro)

Richmond, Va.-based Halcon Companies willl build a $10.2 million, 80-unit apartment complex at South Elm-Eugene St. near Interstate 85.

Industry pub says Heritage Home Group may move headquarters to High Point

March 25, 2014

(High Point Enterprise)

A furniture-industry publication reported last week that St. Louis-based Heritage Home Group, formerly Furniture Brands International, is planning to move its headquarters to the High Point area. Heritage Home is the parent company of several North Carolina furniture manufacturers; its brands include Broyhill, Drexel Heritage, Lane and Thomasville Furniture.

A year after merger with UNC Health, no layoffs expected at High Point Regional

March 25, 2014

(High Point Enterprise)

One year after High Point Regional Health's merger with UNC Health Care, its chief operating officer says the medical center is not planning any layoffs. When the deal was first announced, officials from both companies pledged that no jobs would be affected during the first year.

Bovio named CEO of High Point Regional

March 24, 2014

(The News & Record, Greensboro)

Ernie Bovio was named president and CEO of High Point Regional Health. Bovio was CEO of a Texas-based health system that oversaw three hospitals and 22 clinics. He will succeed Jeff Miller, who is retiring March 31.

Hickory's Fortran acquires Lexington communications company

March 21, 2014

(The Lexington Dispatch)

Lexington-based Wynncomm has been acquired by Hickory-based communications company Fortran Corp. in a share-exchange agreement. Wynncomm offers services including website development and telephone systems. No jobs should be affected by the acquisition.

Foodservice-products manufacturer considers Triad for new plant

March 20, 2014

(The News & Record, Greensboro)

California-based Cambro, which makes plastic products for the foodservice industry, is considering opening a manufacturing plant in Mebane that would create 100 jobs. The company does not have an East Coast location, and likes the transportation infrastructure the Triad offers. Alamance County will hold a public hearing to consider incentives for the company on April 7.

North State to offer ultra-fast Internet service in High Point

March 20, 2014

(High Point Enterprise)

High Point-based North State says it plans to offer gigabit Internet service by year-end to homes and businesses in High Point and parts of Greensboro. The communications company has invested $50 million upgrading its fiber network, and hopes to expand the service to other parts of the Triad if it is well-received.

Ashley Furniture plant in Davie County to be ready in October

March 20, 2014

(The Winston-Salem Journal)

Representatives from Ashley Furniture Industries say its new 1.1 million-square-foot distribution center in Advance should be complete by October. The Arcadia, Wisc.-based furniture manufacturer and retailer hopes to hire an additional 200 workers at the Davie County operation by year-end.