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Northrop Grumman secures first phase of $85B Air Force ICBM contract
The U.S. Air Force awarded the first $13.3 billion phase of an expected $85 billion Ground-Based Strategic Deterrent (GBSD) contract to Falls Church-based Fortune 500 defense contractor Northrop Grumman Corp., the company announced Tuesday. Under the $13.3 billion engineering and manufacturing development (EMD) phase of the Ground Based Strategic Deterrent (GBSD) program awarded Tuesday, Northrop […][...]
Universal Corp. to acquire dehydrated foods company for $170M
Richmond-based international tobacco leaf supply company Universal Corp. announced Tuesday it has entered into a definitive agreement to acquire Momence, Illinois-based dehydrated vegetable, fruit and herb processing company Silva International for $170 million in cash. Following the transaction, Silva will operate as part of Universal’s plant-based ingredients platform, which includes FruitSmart Inc. (which Universal acquired [&h[...]
Virginians debate mandatory COVID-19 vaccinations
RICHMOND, Va. — Though the federal government is asking states to prepare for the possibility of a COVID-19 vaccine within months, some Virginians differ on whether the vaccine should be mandatory when it becomes available. Virginia Freedom Keepers, a nonprofit that advocates for medical freedom, gathered in Richmond this [...]
Dominion seeks to keep North Anna nuclear plant operating into 2060
Richmond-based Dominion Energy has filed an application with the Nuclear Regulatory Commission to renew the operating license for its North Anna nuclear power station for an additional 20 years. In operation since 1978 and 1980, North Anna’s two reactor units are currently licensed to operate until 2038 and 2040. The renewal would have the reactor […]
U.S. nonresidential construction spending fell in July
National nonresidential construction spending fell again in July by 1.2%, according to an Associated Builders and Contractors analysis of data published Tuesday by the U.S. Census Bureau. And ABC Chief Economist Anirban Basu says next year is shaping up to be an especially harsh one for contractors. Spending totaled $809.1 billion for the month of […]
Newport News federal contractor names director, innovative solutions
Newport News-based federal contractor and professional services company ITA International has promoted Lauren Campbell to director of innovative solutions, effective Aug. 20. Joining the company in 2017, Campbell previously served as program manager of small business innovation research (SBIR) where she oversaw SBIR technology. [...]
Loudoun County allocates additional $4.3M to small business grants
The Loudoun County Board of Supervisors has approved an additional $4.3 million in federal CARES Act funding to go to its COVID-19 Business Interruption Fund, which supports eligible small businesses impacted by the coronavirus with $5,000 grants. During the first three rounds of funding, Loudoun County disbursed $7.1 million to more than 1,000 businesses. “Even […]
Puritan Cleaners acquires HandCraft Cleaners
Richmond-based dry-cleaning business Puritan Cleaners has acquired HandCraft Cleaners, another Richmond-based, family-owned dry-cleaning company, the businesses announced Thursday. Terms of the transaction were not disclosed. “We are extremely pleased to welcome HandCraft Cleaners’ customers to the Puritan Cleaners family and are honored to have the opportunity to continue to provide them with convenient, superior service [&hell[...]
Va. jobless claims during pandemic exceed Great Recession
While Virginia saw a slight decrease in the number of initial jobless claims last week, the Virginia Employment Commission reported Thursday that the total number of initial claims filed since the beginning of the pandemic is greater than the combined totals filed during the 2007-09 Great Recession and the economic recession in [...]
Md.-based HVAC company to acquire two Richmond firms
Columbia, Maryland-based HVAC equipment manufacturer’s representative Havtech announced Thursday it will acquire Richmond-based companies Air Conditioning Equipment Sales Inc. (ACES) and Mechanical Systems Testing & Balancing Inc. (MSTB). Terms of the transactions were not disclosed. Founded in 1971, ACES is an HVAC manufacturer’s representative for the Central Virginia, Tidewater and Roanoke markets, while MSTB performs[...]
Michael Milken joins Focused Ultrasound Foundation board
Michael Milken, who was pardoned by President Donald Trump in February over felony charges for securities fraud, has joined the Charlottesville-based Focused Ultrasound Foundation’s board, the organization announced Thursday. Milken (often referred to as the “junk bond king”) is credited with being part of the developm[...]
Va. hotel revenues continued to improve last week
Virginia hotel revenues continued to improve last week, according to data released Wednesday by STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Aug. 23 through Aug. 29, hotel revenues decreased by 38% and rooms sold declined by 27% compared to the same week […]
