Triad

Wilmington's Atlantic Corp. to buy Greensboro paperboard plant

September 11, 2014

(News & Record, Greensboro)

Memphis, Tenn.-based International Paper will sell its Greensboro paper- and packaging-plant, along with locations in Hazelton, Pa. and Sturgis, Mich., to Wilmington-based Atlantic Corp. The deal is expected to close in the fourth quarter.

Third executive named in ZeekRewards case

September 11, 2014

(Winston-Salem Journal)

The receiver in the ZeekRewards.com case will seek to recover $2.27 million from Darryle Douglas of Huntington Beach, Calif. Douglas received the money from the Lexington-based Ponzi scheme, which was shut down in 2012.

High Point mayor resigns, pleads guilty to worthless check charge

September 11, 2014

(News & Record, Greensboro)

High Point Mayor Bernita Sims resigned Wednesday and pleaded guilty to a felony charge of writing a worthless check. A Guilford County Superior Court judge sentenced Sims to six months house arrest and 4 and a half years of supervised probation.

Krispy Kreme reports lower 2Q earnings

September 10, 2014

(Winston-Salem Journal)

Krispy Kreme Doughnuts fells short of analysts' earnings projections in the second quarter, despite a 7% increase in sales to $120.5 million.

BB&T buying The Bank of Kentucky for $363 million

September 9, 2014

(Winston-Salem Journal)

BB&T Corp. will acquire The Bank of Kentucky for $363 million in a cash and stock transaction. Crestview Hills-based Bank of Kentucky has $1.9 billion in assets and 32 branches in northern Kentucky and Cincinnati. Winston-Salem-based BB&T, which operates 82 branches in Kentucky, will move from fourth to second place in market share in the state.

Reynolds American calls for ban on vapor e-cigarettes

September 8, 2014

(Winston-Salem Journal)

Reynolds American wants the Food and Drug Administration to ban the use of vapor electronic cigarettes, which the company says are subject to tampering and offer fruit and candy flavors which appeal to youth and children. 

 

Shareholders approve RF Micro-TriQuint merger

September 8, 2014

(News & Record, Greensboro)

Shareholders approved Greensboro-based RF Micro's planned $1.5 billion acquisition of Hillsboro, Ore.-based TriQuint Semiconductor. The deal is expected to close by year-end.

Inmar acquires Canadian coupon company

September 5, 2014

(Winston-Salem Journal)

Winston-Salem-based Inmar has bought Canada-based Millennium Process Coupon. Inmar provides inventory management and coupon clearing for retailers and manufacturers and employs more than 920 people. Terms of the deal weren't disclosed.

Reynolds subsidiary to launch nicotine gum

September 5, 2014

(Winston-Salem Journal)

A Reynolds American subsidiary is planning a national rollout of a nicotine replacement therapy gum. Zonnic will be sold in convenience stores and gas stations, where most people buy tobacco products. GlaxoSmithKline's Nicorette currently claims 43% of the market share of NRT products.

Wake Forest Baptist receives $18 million cancer-research grant

September 5, 2014

(Winston-Salem Journal)

Wake Forest Baptist Medical Center received an $18 million grant from the National Cancer Institute to develop cancer screening and prevention programs and conduct controlled clinical trials.

BB&T to acquire 41 more Citibank stores in Texas

September 4, 2014

(Winston-Salem Journal)

BB&T Corp. will purchase 41 Texas Citibank branches representing $2.3 billion in deposits for an undisclosed amount. The Winston-Salem-based bank bought 21 Texas branches from New York-based Citigroup in June. The deal, expected to close in the first quarter, will give BB&T 123 branches in Texas.

Randolph megasite group could form independent authority

September 4, 2014

(News & Record, Greensboro)

A group of businesspeople that has been accumulating land for a megasite in Randolph County could form an authority to try to recruit a large auto manufacturer. The group is comprised of members of the Piedmont Triad Partnership, though the nonprofit economic-development group doesn't have authority to grant land to a prospective company.

Hanesbrands completes purchase of European apparel company

September 4, 2014

(Winston-Salem Journal)

Hanesbrands Inc. completed a previously announced $528 million acquisition of Paris-based underwear and intimate-apparel manufacturer DBApparel on Friday. It's the second huge deal in less than a year for the Winston-Salem company, which paid $585 million for Iselin, N.J.-based Maidenform Brands Inc. in October.

Consultant says NC must pass incentives soon to attract auto-maker

September 3, 2014

(News & Record, Greensboro)

A site-selection consultant says North Carolina must expand its incentive program if it wants to recruit a major auto manufacturer to the state. Gov. Pat McCrory said Tuesday he is considering reconvening the General Assembly to discuss economic-development issues.

Report shows $28.9 million loss for Wake Forest Baptist

September 3, 2014

(Winston-Salem Journal)

An unaudited report shows Wake Forest Baptist Medical Center posted an operating loss of $78.4 million and overall loss of $28.9 million for its fiscal year ended June 30. Operating revenues were up 8.9% for the year, while expenses jumped 68.5%.

Feds ask for more information from Reynolds, Lorillard

September 2, 2014

(The Charlotte Observer) 

The Federal Trade Commission has asked Winston-Salem-baesd Reynolds American and Greensboro-based Lorillard to provide unspecified additional information in its antitrust review of the tobacco companies' planned $25 billion merger.

 

North State expanding gigabit Internet service

August 29, 2014

(News & Record, Greensboro)

High Point-based North State Communications plans to expand its high-speed gigabit Internet service to more than 50,000 homes and businesses in the Triad by year-end.

New leader named at Northern Hospital

August 29, 2014

(Winston-Salem Journal)

Northern Hospital of Surry County named Ned Hill president and CEO effective Oct. 6. Hill, who comes from Memorial Hospital of Carbon County in Wyoming, replaces Bill James, who left to become president of Lexington Medical Center in April.

United Furniture to create 200 jobs in Winston-Salem

August 28, 2014

(Winston-Salem Journal)

United Furniture will create 200 jobs in a manufacturing and distribution center at the former Hanesbrands' Weeks Plant in Winston-Salem (Regional Report, January). The Okolona, Miss.-based company will invest $5.2 million over three years in the 850,000-square-foot plant. The company employs 940 at three other North Carolina locations. 

BB&T promotes Brown to president

August 28, 2014

(Winston-Salem Journal)

Winston-Salem-based BB&T Corp. named Ricky Brown president of the bank, effective immediately. He replaces Rob Greene, who retired after nearly 20 years in the position. Brown has worked for BB&T since 1977, and has served as president of the community banking division since 2004.