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Auto parts maker to establish North America HQ in Salem
German auto parts manufacturer STS Group AG will establish its North American headquarters in Salem, a $32 million investment expected to create 119 jobs, Gov. Glenn Youngkin announced Thursday. In April 2021, the company announced a greenfield project in Wythe County, but will now use an existing facility in Salem instead, R[...]
Feds say Chinese cranes used at Port of Va. could be spy tools
The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major sharehold[...]
DXC rejects buyout proposal from Asian firm
Ashburn-based Fortune 500 company DXC Technology Inc. has ended buyout talks after a “financial sponsor” failed to raise enough capital, the company announced Monday. DXC was approached in late September 2022 after receiving interest from a private equity firm and worked with advisers on the potential takeover, the c[...]
Bon Secours names new Maryview hospital president
Shane Knisley will be president of Bon Secours Maryview Medical Center in Portsmouth starting March 13, the health system announced Monday. Knisley joined Bon Secours in 2018, working in its Cincinnati market. He was most recently president of Mercy Health – Clermont Hospital in Batavia, Ohio. Prior to that, he served as chief[...]
Buc-ee’s could open first Va. store in New Kent
A Texas-sized travel center could be coming to New Kent County. Buc-ee’s, which bills itself as having the cleanest restrooms in America and the “friendliest beaver,” has filed a conditional use permit with the county’s planning and zoning department for review and approval of a proposed sign, the county&[...]
Hilb Group acquires Fla. insurance agency
Henrico County-based insurance agency The Hilb Group LLC has acquired E/G of Florida, the company announced Friday. The acquisition took effect Jan. 1. Financial terms of the transaction were not disclosed. “E/G of Florida represents a terrific addition to our company, aligned with our growth strategy by adding greater experti[...]
BAE Systems receives $245.6M Army contract
Falls Church-based BAE Systems will procure early-order material to support the future purchase of the Army’s Armored Multi-Purpose Vehicles (AMPV) under a $245.6 million cost-sharing contract announced by the Pentagon Friday. Work will be performed by BAE Systems’ land and armaments sector in York, Pennsylvania, wit[...]
Divaris Group acquires N.C. mixed-use leasing, advising firm
Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday. Financial terms and other details of the acquisition were not disclosed. The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris[...]
Radford’s Highlander hotel names senior leadership
The Highlander, a $40 million boutique conference hotel opening this spring in Radford, announced its senior leadership team March 1. The team includes Executive Chef James Kirby; General Manager Rachel Pegues; Director of Sales and Marketing Ginger Clark; and Director of Food and Beverage John O’Conner. Kirby is a graduat[...]
Housing reform bills saw mixed success in General Assembly
Legislative efforts to tackle spiking eviction notices, housing and utility costs were mostly shot down during the Virginia General Assembly session. Almost 193,000 eviction filings have been made in Virginia since March 2020. The monthly-updated data comes from the Princeton Eviction Lab, a group that makes nationwide eviction [...]
Bills to ensure workers paid sick days failed in Va. House
RICHMOND, Va. — The Virginia General Assembly did not pass legislation this session to ensure paid sick days for employees, despite strong public support. A 2021 study by Christopher Newport University found almost 90% of people surveyed support paid sick leave. Both House and Senate versions of the bill updated the current la[...]
Hickory Point Townhomes sells for $25M in Newport News
Arlington-based Ritz Banc Group, a real estate, private equity and alternative asset management firm, bought Hickory Point Townhomes, a 175-unit apartment complex at 399 Hickory Point Blvd. in Newport News, from New York-based AION Partners for $25 million, Cushman & Wakefield announced Monday. The new owner pland to conti[...]
