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Colbert leaves as CEO of Boeing’s defense, space sector
Theodore “Ted” Colbert III is no longer president and CEO of Boeing Defense, Space & Security, the Arlington County aircraft and aerospace manufacturer reported in a Securities and Exchange Commission filing Friday evening, Sept. 20. The announcement comes weeks after NASA decided it was unsafe to send two U.S. a[...]
Topsoe buys land for $400M plant in Chesterfield County
Topsoe, a Danish electrolyzer manufacturer, paid $4.95 million for about 57 acres in Meadowville Technology Park in Chesterfield County this summer, where the company plans to build a $400 million manufacturing plant. In April, Topsoe announced the investment, which is expected to create 150 jobs. The company will manufacture [...]
Pittsylvania tapped as home for $1.5M+ training center
TECHnista, an education consulting company that develops curriculum for K-12 programs in defense and advanced manufacturing industries, will invest about $1.56 million to establish a National Training and Technology Center in Pittsylvania County, Gov. Glenn Youngkin announced Friday. The project, which is expected to create 15 jobs, will assist in the implementation of a five-year […]
$10M Biochar plant opens in Waverly
Restoration Bioproducts’ executives and employees gathered with state and local officials Wednesday to celebrate the opening of the company’s Sussex County biochar production facility. Through a thermal decomposition process known as pyrolysis, the facility heats waste wood to high temperatures in an environment without oxyg[...]
Kongsberg to build $101M missile plant in James City County
Kongsberg Defence & Aerospace, a subsidiary of Norway’s Kongsberg Group, plans to establish its first U.S. defense assembly plant in James City County, investing more than $100 million and creating an estimated 180 jobs, Gov. Glenn Youngkin announced Tuesday. The company expects to invest $71 million in a 150,000-s[...]
Chain Bridge Bancorp plans to go public
Chain Bridge Bancorp, the McLean holding company for Chain Bridge Bank, National Association, is planning to go public. On Friday, the company filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of Class A common stock. The number of shares and price range for the IPO[...]
Judge approves LL Flooring’s sale of Sandston plant, assets
A Delaware Bankruptcy Court judge on Monday approved the sale of 219 LL Flooring stores to an entity connected to F9 Group, which is owned by Lumber Liquidators founder and former CEO Thomas Sullivan. The court also OK’d the $104.75 million sale of the bankrupt flooring company’s eastern Henrico County distribution c[...]
CACI strikes $1.27B deal to buy RF electronics provider
CACI International has entered into a $1.275 billion definitive agreement to acquire Azure Summit Technology, the Reston-based Fortune 1000 government contractor announced Monday. Based in Fairfax and founded in 2007, Azure Summit develops high-performance radio frequency (RF) hardware and software for the U.S. Department of Def[...]
OpTech expanding Loudoun satellite plant
Optimum Technologies, a Sterling space flight hardware designer and manufacturer, plans to expand its Loudoun County satellite manufacturing plant, a project expected to create 40 jobs, Gov. Glenn Youngkin announced Monday. Known as OpTech, the company will invest $999,000 in the expansion, according to the governor’s offi[...]
Virginia Realtors CEO retires
Virginia Realtors CEO Terrie L. Suit is retiring after 11 years heading the state’s largest trade association, according to a Sept. 14 announcement. Glen Allen-based Virginia Realtors, which represents 36,000 Realtors, has appointed Martin K. Johnson as interim CEO. He has held varying roles with the association, including sen[...]
NoVa, Hampton Roads home sales decline in August
Home sales in Northern Virginia and Hampton Roads dropped year-over-year and month-over-month in August, although inventory and selling prices in both regions increased from the same time last year. Northern Virginia August home sales in Northern Virginia dropped 8.1% from August 2023, according to data released Sept. 12 by the [...]
Boar’s Head to indefinitely shutter Va. facility tied to fatal listeria outbreak
Deli meat company Boar’s Head Provisions Co. is indefinitely shutting down its meat production facility in Jarratt, the source of a listeria outbreak that killed at least nine people and hospitalized 57 others. The plant has not been operating since late July. The Centers for Disease Control and Prevention opened an investigat[...]
