Triangle

Martin Marietta to resolve antitrust issues with Justice Dept.

June 24, 2014

(The News & Observer, Raleigh)

Martin Marietta Materials will finalize a deal this week with the federal government that will resolve antitrust concerns regarding the company's $2.7 billion acquisition of Texas Industries. The acquisition will make Raleigh-based Martin Marietta the country's largest provider of crushed stone, rock and gravel construction materials used in foundations for roads and sidewalks.

Morrisville's Gentris Corp. to be sold for $4.75 million

June 24, 2014

(The News & Observer, Raleigh)

Gentris Corp. will be acquired by Rutherford, N.J.-based Cancer Genetics for $4.75 million. The Morrisville-based company provides pharmacogenomic services, which helps determine individualized dosage levels of drugs for patients. Gentris employs 40 at Morrisville and at a lab in China.

Officials pleased with back-to-back US Opens

June 23, 2014

(The Fayetteville Observer)

Though official attendance figures have not been released, the back-to-back U.S. Open and U.S. Women's Open championships that concluded Sunday drew an estimated 335,000 to 340,000 people to Pinehurst, according to the tournament's director. A team of 6,200 volunteers helped the events run smoothly.

Cree LED bulbs light up San Francisco Bay bridge

June 20, 2014

(WRAL TechWire)

Durham-based LED lighting company Cree supplied more than 51,000 bulbs for the new East Span of the San Francisco-Oakland Bay Bridge in California. Cree says the LED bulbs will last 15 years and will cut energy costs for the bridge by 50%.

Southern Pines businesses succeed at attracting U.S. Open fans

June 20, 2014

(The Fayetteville Observer)

Southern Pines city officials and business leaders say events including concerts and movies were successful at attracting U.S. Open fans to downtown and commercial districts.

Advance Auto Parts adding 600 jobs in Raleigh

June 19, 2014

(The News & Observer, Raleigh)

Advance Auto Parts will create 600 jobs with an average annual salary of $110,770 by 2017 at a corporate support center it plans to open in Raleigh. The Roanoke, Va.-based retailer will receive up to $17.4 million in state incentives if it meets hiring and investment goals. Advance acquired Raleigh-based General Parts International for more than $2 billion in January.

Red Hat quarterly revenue up 17%, company raises forecast

June 19, 2014

(The News & Observer, Raleigh)

Red Hat increased its annual revenue forecast by $30 million after reporting a 17% increase in first-quarter revenue. Profits fell to $37.7 million from $40.4 million for the same period a year ago. The Raleigh-based software company also announced it will acquire French cloud-computing company eNovance for about $95 million by the end of the month. 

Grifols opens $370M plant in Johnston County

June 18, 2014

(The News & Observer, Raleigh)

Grifols opened a new $370 million, 155,000-square-foot plant in Clayton on Tuesday that will double the company's blood plasma production there. Grifols employs 1,650 in Clayton and 2,300 in the state, and Gov. Pat McCrory said the Spanish company is considering North Carolina for future expansion.

Raleigh tech startup raises $7M, names new CEO

June 17, 2014

(The News & Observer, Raleigh)

Technology startup Valencell has raised $7 million in venture capital and named Michael Dering CEO. The Raleigh-based company employs 20 and develops biometric sensors for wearable fitness products. 

Novartis gets FDA approval for new flu vaccine at Holly Springs plant

June 17, 2014

(WRAL TechWire)

Novartis received FDA approval to produce a new type of flu vaccine at its Holly Springs manufacturing plant. Through a federal government contract, the plant will produce enough of the antibiotic- and preservative-free flu vaccines to be prepared for a potential pandemic threat.

Construction to begin on second Edison apartment project in Raleigh

June 17, 2014

(The News & Observer, Raleigh)

Cleveland-based NRP Group will begin construction on a 223-unit apartment complex in downtown Raleigh next week. It is the second of three phases of the office and residential Edison project. Construction on the final phase, a 315,000-square-foot office building, is expected to begin in the first quarter of 2015.

New Durham-based venture-capital firm raises $26M

June 16, 2014

(The News & Observer, Raleigh)

Bull City Venture Partners plans to announce today it has raised $26 million from investors including Red Hat, Cisco Systems and Blue Cross and Blue Shield of North Carolina. The new Durham-based venture capital fund, founded by two members of Raleigh-based Southern Capital Ventures, exceeded its target by nearly $1 million.

Lenovo expands in Connecticut, could grow in NC too

June 13, 2014

(WRAL TechWire)

Computer-maker Lenovo could expand in North Carolina, according to a company executive. Beijing-based Lenovo, which has its North American headquarters in Morrisville, announced the opening of a 10,000-square-foot office in Danbury, Conn., but the company says that project will not impact its North Carolina operations.

Durham approves deal for AT&T fiber network

June 13, 2014

(The News & Observer, Raleigh)

Durham joins Cary and Winston-Salem in approving an agreement for AT&T to build a local fiber network that will enable the telecommunications company to provide Internet speeds up to 20 times faster than most broadband networks. Construction will begin in the next few weeks.

BASF completes RTP expansion, will invest more in agricultural products

June 12, 2014

(The News & Observer, Raleigh)

BASF has completed a $30 million expansion at Research Triangle Park and the company plans to double its investment in its Plant Science division over the next five years. BASF employs more than 1,000 people at three locations in North Carolina.

Raleigh approves initiative to recruit startups

June 12, 2014

(WRALTechWire.com)

The Raleigh City Council will develop a startup recruitment plan to help lure businesses in fields including technology, social innovation and fashion.

Raleigh's First Citizens to acquire SC-based bank

June 11, 2014

(The News & Observer, Raleigh)

Raleigh-based First Citizens Bancorp will merge with the parent company of Columbia, S.C.-based First Citizens Bank and Trust, a privately held bank with 176 branches. Frank Holding Jr., chairman and CEO of the Raleigh-based First Citizens, will lead the combined bank. The Holding family owns a controlling interest in both banks.

Pittsboro approves 7,500-acre Chatham Park community

June 10, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners voted 4-1 to approve the master plan for Preston Development Co.'s Chatham Park, a 7,500-acre community that could bring 60,000 residents over several decades. Developers tout the plan as "smart growth" that will help the city avoid problems associated with urban sprawl.

Cisco to add 550 jobs at RTP

June 9, 2014

(WRALTechWire.com)

Cisco Systems will expand its workforce at Research Triangle Park by 10% and will invest $1.6 million. Average annual salary for the 550 new jobs will be $72,700. The San Jose, Calif.-based telecommunications equipment manufacturer will receive up to $12.9 million in state incentives.

Pinehurst readies for back-to-back U.S. Opens

June 9, 2014

(News & Record, Greensboro)

The U.S. Open's success in Pinehurst is due in part to support from metro areas including Charlotte, Greensboro and Raleigh, according to Reg Jones, the Open's director of operations. Officials expect up to 55,000 people per day to attend this week's Open and as many as 25,000 for the Women's Open next week.