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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||
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In This Issue... Expansions, Relocations and Launches , Who's Hot , Who's Winning Business , Deals & Partnerships , Innovations , Partnerships & Collaborations , Research & Intellectual Property , Trends , Commentary , Other , Events Click here to forward to a friend or colleague who might like this newsletter. |
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| Back To Top | Expansions, Relocations & Launches
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MW to Invest $23 Million in Rocky Mount ROCKY MOUNT--MW Manufacturers Inc. will invest $23 million to expand its Rocky Mount headquarters and production facility in Franklin County. The company, which produces and distributes window and door products for the residential construction industry, will create 175 new jobs. MW has expanded on a rich tradition in handcrafted millwork to become a major manufacturer of classic wood, clad and all-vinyl windows. More. AVID to Expand in James City County JAMES CITY COUNTY--AVID Medical Inc. will invest $7.9 million to expand its facility in James City County, creating 303 new jobs. The company manufactures custom procedure-ready trays for the healthcare industry and will expand by doubling its existing 90,000-square-foot facility in the Stonehouse Commerce Park. More. Firefly Launched to Develop Low-Energy Lights ROANOKE-Dominion Metallurgical and the Carilion Biomedical Institute have formed a new company, Firefly Lighting Innovations, that will manufacture lighting products utilizing electroCeramescent technology for healthcare, consumer and industrial markets. The breakthrough technology makes possible lights that are durable, are virtually maintenance free and consume little energy. Due to the low energy usage, they can be powered with solar energy, allowing them to be rapidly deployable without the need to lay electrical cable. The first product will be the Firefly Light Tray, which creates a soft, non-obtrusive glow. More. ABB Expands Two Virginia Facilities BLAND--ABB, a provider of power and automation products, will $3 million and create 30 jobs in an expansion of its Bland County operation, which produces dry and vacuum cast transformers used by industrial manufacturing plants, hospitals, universities, the military, and utilities. Said Laura Kennedy, general manager at Bland: "The ABB Bland facility was selected because of our employees' dedication to continuous improvement and their recognition in the industry for high-quality products and service." More. NEC Opens Pre-Wire Shop in Herndon HERNDON--NEC America, Inc., an Irving, Tex.-based provider of communications products, has opened a pre-wire optical facility in Herndon, its second in the United States. The facility will provide customers the ability to ability to assemble and test new NEC products prior to deploying the optical solutions in their networks. More. In Brief... RICHMOND--Innovative Recruiting Solutions, LLC, has been launched to provide staffing assistance to small and mid-sized companies in the greater Richmond area. Mental Fitness: Morphing Goals In the fourth week of my mental fitness program, I'm embracing more ambitious goals for self improvement. ... Cutting Pfizer off the dole... clicking on orange rhinos... Scrutinizing the muenster cheese... by James A. Bacon I started the kSero Executive Program a month ago with the most modest of goals: Let's see if the mental fitness regimen would help improve my focus and concentration a little bit. I was looking for a bottom-line payback. I would judge the program a success if it improved my mental focus enough to boost my workplace productivity by, say, 10 percent. Now it's turned into so much more. I'm determined now to make fundamental changes in my lifestyle -- nutrition, exercise, sleep, daily routine -- that will help me lose weight, lower my blood pressure, kick my blood pressure medication and, ultimately, live a longer, healthier life -- and, oh, along the way, increase my physical and mental energy. That's the last thing I expected when I walked through the doors of kSero's Center for the Mind in Innsbrook back in May. But that's where the experience has brought me. More. Read Part I in the "Mental Fitness" series. Read Part II in the "Mental Fitness" series. Read Part III in the "Mental Fitness" series. |
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| Back To Top | Who's Hot...
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K2M Raises $21.5 Million to Develop Spine Technologies LEESBURG--K2M, Inc., a developer of next-generation spine technologies, has closed on a $21.5 million investment round of mezzanine capital. The funds will fuel continued sales and development of spine products, from minimally invasive surgery to dynamic stabilization technology. Founded in 2004, K2M has built a portfolio of more than 70 issued and pending patents. Said CEO Eric Major: "This investment will play a vital role in our ability to scale our business to meet the growing worldwide demand for our products." More. IPIX Raises $5 Million in Private Placement RESTON--IPIX Corporation, a supplier of 360-degree visual intelligence applications, has agreed to an investment that will raise $5 million in capital to fund the company's operations. The company will issue notes convertible into 5.2 million shares of stock, plus warrants. The company had reported a loss of $3.61 million for the 1Q of 2006. More. |
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| Back To Top | Who's Winning Business...
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LCC to Upgrade Saudi Wireless Infrastructure MCLEAN--LCC International Inc., a provider of wireless voice and data turn-key services, has won a 24-month contract extension from Saudi Telecom to transform the Saudi company's wireless infrastructure into a world-class 3G network. The first installment amounts to $17.3 million. Saudi Telecom is one of the largest and fastest-growing mobile operators in the Middle East. More. In Brief... FAIRFAX--ICF International announced has been awarded a contract potentially worth $32 million over seven years from the Environmental Protection Agency to manage the Region 9 Environmental Services Assistance Team program. More. ARLINGTON--CACI International has been selected as one of six prime contractors to share in a contract worth $200 million over five years to support the National Geospatial-Intelligence Agency, whose mission is to provide geospatial intelligence in support of national security objectives. More. RESTON--SI International, Inc., an IT services company, has won a contract potentially worth $14 million over 2½ years to help the North American Aerospace Defense Command and Air Force Space Command define, field, test and sustain next-generation Command and Control capabilities. More. DULLES-The Transportation Management Systems division of Orbital Sciences Corporation has been awarded a $9.2 million contract by the Hillsborough Area Regional Transit Authority in Tampa, Fla., to provide its computer-aided dispatch and automatic vehicle location system. More. MCLEAN--Ventera Corporation has been selected as part of the winning team to help the United States Institute for Peace manage contact information on their constituents, including members of Congress and their staffs, people in academia and at federal agencies, USIP alumni, fellows, peace scholars, and others. More. RESTON--Cernium Corporation has deployed its Perceptrak intelligent video system in San Diego to monitor security camera networks covering portions of the city's critical infrastructure. More. |
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| Back To Top | Deal Makers
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Smithfield to Acquire Sara Lee European Meats Business SMITHFIELD--Smithfield Foods, Inc., has agreed to acquire the European meats business of Sara Lee Corporation for $575 million, plus the assumption of pension-related liabilities. Intending to finance the deal through a 50 percent-owned joint venture with Oaktree Capital Management, LLC, Smithfield will contribute its France-based Jean Caby operations to the venture. Jean Caby had sales of $372 million in fiscal 2006. More. Cree Finds INTRINSIC of Value DULLES--INTRINSIC Semiconductor Corporation, a developer of low-defect density SiC substrates, has agreed to an acquisition by Cree, Inc., of Durham, N.C., a manufacturer of semiconductor materials and electronic devices made from silicon carbide (SiC). Cree will pay $46 million: $43.5 million in cash and the rest in stock options. Said Cree CEO Chuck Swoboda: "We believe the combination of Cree's technology and manufacturing expertise with INTRINSIC's ZMP technology will accelerate the commercialization of low defect 100mm and 150mm substrates. These substrates … [should] enable us to more rapidly commercialize higher power devices for motor control applications and hybrid vehicles." More. Fortress America Revises Terms of Acquisition ARLINGTON--Fortress America Acquisition Corporation has revised the terms under which it proposes to acquire privately owned VTC LLC, doing business as Total Site Solutions and Vortech, LLC. TSS supplies secure data centers and other mission-critical facilities that will survive terrorist attacks, natural disasters, and blackouts; Vortech provides secure data and voice networks. Said Fortress American CEO Harvey Weiss: "The revised terms of the transaction increase the stock ownership of management, which is a positive signal to the market and leaves a greater amount of cash that the company can use to expand the business." More. Harbourton to Purchase Fairfax Mortgage Firm MCLEAN--Harbourton Capital Group, Inc., a holding company for financial companies serving the mortgage-home building sectors, has agreed to acquire Molton Allen & Williams Mortgage Company, LLC, of Fairfax. Said CEO J. Kenneth McLendon: "There are great synergies between the two entities with little overlap in products, sales infrastructure and technology." More. Pacel to Purchase World Wide Personnel WINCHESTER-Pacel Corporation, of Charlotte, N.C., has announced its intention to purchase World Wide Personnel Services of Virginia, Inc., of Winchester. World Wide offers a full range of human resource functions to its clients, including payroll processing, benefits administration, human resource consulting and risk and safety assistance. Said Pacel CEO Gary Musselman: "We are convinced this is the next major growth area in Virginia." More. Spectrum Divests Canadian Unit FALLS CHURCH--Spectrum Sciences & Software Holdings Corp., a government services company, has agreed to sell its Canadian industrial and offshore subsidiary, M&M Engineering, LTD, to a partnership formed by M&M management. The transaction will provide about $6 million of immediate cash to Spectrum. Said CEO Darryl K. Horne: "M&M's business, its location in Newfoundland, and its distinct corporate culture, have been key to M&M's success, but they have also made it a challenge to integrate M&M into Spectrum Holdings." More. |
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| Back To Top | Innovations
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Video Sharing in a Pickle ARLINGTON-Incando Corporation has launched Pickle, a next-generation video- and photo-sharing service that addresses the problem of media sharing through e-mail and simplifies it for the person who sends it and the person who receives it. Using PickleMails, special compressed e-mails, people can share photos and videos with family and friends without clogging receivers' inboxes. Said CEO John Funge: "The vast majority of people share their photos and videos via e-mail because e-mail is easy and convenient. Still, e-mail lacks the technology required for a truly satisfying experience." More. AOL, Fusion Create Action Sports Network DULLES--AOL has formed Lat34.com in a joint venture with Fusion Entertainment, of Hollywood, Calif., creating the first comprehensive interactive network dedicated to action supports including skate, BMX, FMX, surfing, snowboarding and more. This surging category claims upwards of 100 million U.S. fans. The new network will emphasize both programmed and user-generated content, including action sports video on-demand, event coverage, action sports athletes up close and in-depth coverage of all aspects of the action sports culture. Lat34.com is named for the company's location in Los Angeles (34 degrees N/118 degrees W), considered the unofficial home of action sports in the U.S. More. Cyveillance Upgrades Anti-Phishing Capabilities ARLINGTON--Cyveillance, a provider of online risk monitoring and management solutions, has strengthened its Cyveillance Anti-Phishing solution by incorporating behavioral analysis capabilities. Cyveillance can evaluate if a website poses a threat to visitors based on whether it is configured to support pop-up windows, URL obfuscation, encrypted content, client-side re-directs, or phishing-related text hidden in images. More. That's an Emboli Detector, Not a Stromboli Detector ROANOKE--Luna Innovations Incorporated has introduced a medical device that measures emboli in the blood stream. Emboli in the form of air bubbles or solid matter (i.e. lipid, blood clot) can enter the blood circuit during invasive medical procedures such as a cardio pulmonary bypass surgery. The system employs missile-tracking algorithms originally developed for the defense industry. More. Network Solutions Introduces Do-It-Yourself Website Package HERNDON--Network Solutions, a provider of Web-based solutions, has unveiled a "Do-It-Yourself" package to allow customers to build a professional website site without special design skills. The enhanced ImageCafe Web Site Creator will help small and midsized businesses build, design, improve and maintain a professional online presence. More. PRA Integrates Electronic, Paper Data Management RESTON--PRA International, a clinical research organization, has introduced Flex DMS, an advanced data management system for clinical studies that combines electronic data capture (EDC) and paper data entry in the same system. Said Vice President Greg Johnson: "While EDC is rapidly gaining acceptance among the medical investigator community, there is still a need to manage paper reporting in as an efficient manner as possible, which led us to Flex DMS." More. In Brief... HERNDON--Finetre Corporation has introduced the Finetre AnnuityTrak Report, a new series of indices that measures total sales of annuity products within the full-service brokerage sector. More. WILLIAMSBURG--GuideStar, the national database of nonprofit organizations, has launched LibraryServices@GuideStar to connect library patrons with nonprofit information. (no link) More. |
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| Back To Top | Partnerships & Collaborations
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AOL, DIC to Collaborate on Saturday Morning Kids Show DULLES-AOL and DIC Entertainment, of Burbank, Calif., have partnered to co-produce a Saturday morning branded programming block, "KOL's Saturday Morning Secret Slumber Party on CBS," to premiere September 16, 2006. KOL, AOL's online kids destination, and DIC will also develop online and on-air co-production initiatives in conjunction with the block. More. Meridium, Dexterra Partner in Mobile Enterprise Solutions ROANOKE--Meridium, Inc., a provider of asset-performance management software and consulting solutions, is partnering with Dexterra, of Bothell, Wash., to deliver mobile enterprise solutions to manufacturing plants seeking to improve communication, reduce paperwork and increase efficiency and accuracy. Said Meridium Product Manager Joe Nichols: "Many Meridium customers have indicated the desire to have an integrated mobile platform which will allow them to develop their own solutions based upon existing Meridium configurations." More. |
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| Back To Top | R&D / Intellectual Property
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Wythe to Market Diabetes Therapy WYTHEVILLE-Wythe Therapeutics, Inc., has licensed rights to manufacture, market and distribute Cycloset, an oral formulation developed for the treatment of Tye-2 Diabetes, from VeroScience LLC of Tiverton, R.I. Said Wythe CEO Charles P. Sutphin: "We are extremely excited to work with Vero to bring this unique and important therapy to market. If approved, Cycloset will be a 'First in Class' compound. Type 2 Diabetes currently affects over 20 million Americans, and the number of affected individuals is growing over 5 percent annually." More. |
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| Back To Top | People
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Schoonover Succeeds McCullough at Circuit City RICHMOND-Philip J. Schoonover has been elected chairman of the Circuit City board of directors, succeeding W. Alan McCollough. Schoonover, 46, joined the company in 2004 as executive vice president and chief merchandising officer, and was named president in February 2005. More. |
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| Back To Top | Trends
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Chmura Economics & Analytics |
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Employment growth. The pace of employment growth has slowed in Virginia over recent months but still exceeds the national rate. For the year ending with May 2006, employment increased by 1.5 percent in Virginia compared to a 1.4 percent gain nationally. Over the last twelve months, Charlottesville (+3.9 percent), Northern Virginia (+3.2 percent), and Blacksburg (+2.8 percent) recorded the fastest employment growth among the state metro areas. The only year-over-year employment loss occurred in Danville, which contracted by 3.8 percent. The monthly periodicity of employment data makes it the most timely and encompassing measure of regional economic growth. For details and forecasts of economic conditions across Virginia, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here or call 804-649-1107. |
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| Back To Top | Commentary
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Ip, Ip Hooray! Virginia is conducting a 180-degree turn in its approach toward intellectual property originating at state universities. Lighter central control could stimulate more commercialization of R&D. More. |
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Gottschalk Got Game Virginia's new secretary of commerce and trade is eager to help Tim Kaine put his own imprint on Virginia's economic development policy. Likely starting points: energy and workforce development. Tim Kaine campaigned for governor last year on a platform of continuity with the Warner administration. So it's no surprise, especially given Virginia's strong record of job creation and income growth during the Warner years, that the Kaine administration's economic development policies are looking a lot like those of its predecessor. "We feel like Governor [Mark R.] Warner and Secretary [Michael] Schewel did a great job of bringing us to where we are now. They set the bar pretty high," said Patrick Gottschalk, Schewel's replacement as Secretary of Commerce and Trade, in a recent interview at his downtown office. More. |
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| Back To Top | Events
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VA Newswire is a free, email-based weekly newsletter that covers news and events from around the state. If you have any news, events, job openings, or office space availability that you would like to include in next week's newswire, email jabacon@baconsrebellion.com . Click here for a free subscription . Click here to unsubscribe . |
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