Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, February 2, 1995 TAG: 9502020033
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
United Central Industrial Supply Co., a subsidiary of the United Co. of Bristol, has completed its acquisition of the R&H Service and Supply Co., a wholly owned subsidiary of the Arch Mineral Corp., United announced this week.
United Central, which is based in Big Rock in Buchanan County, said it will continue to operate three R&H supplies stores in Kentucky and Illinois and has offered jobs to 50 of R&H's 77 employees.
- Staff report
Hotel management company sold
A Newport News company that manages Holiday Inns in Roanoke and Bristol has been acquired by Lane Hospitality Inc. of Northbrook, Ill.
With the acquisition of Victor Management Co. of Newport News, Lane has doubled its size for the second time in two years. It now manages or owns 63 properties, generating more than $212 million in total annual revenue.
Victor Management manages 37 properties in 13 states, the District of Columbia and St. Maarten in the Netherland Antilles. The terms of Lane's acquisition of Victor were not disclosed.
Victor manages the Airport Holiday Inn on Thirlane Road in Roanoke and a Bristol Holiday Inn.
- Staff report
3 companies get job-creating loans
TAZEWELL - The Cumberland Plateau Planning District will make loans totaling $291,000 to three manufacturing firms to help create 270 jobs in Tazewell and Buchanan counties.
A $91,000 loan to Cardinal Metals of Tazewell County will mean 14 new jobs. A $100,000 loan to Pemco Inc. of Bluefield in Tazewell County will lead to 52 new jobs over the next two years. Both loans were for plant expansion and new equipment.
A $100,000 loan to Sparkle Sportswear of Buchanan County for new equipment eventually will add 200 employees at the company's Council site. It was made in conjunction with a $150,000 state loan.
The planning district loans come from a revolving loan fund created in 1987 by a $500,000 U.S. Economic Development Administration grant, later recapitalized with an additional grant of $250,000. The $750,000 has grown to more than $1.4 million through interest earnings.
Since then, the planning district has made loans totaling more than $1.3 million to 11 industries, helping to create more than 1,000 manufacturing jobs. The district covers the counties of Buchanan, Russell, Tazewell and Dickenson.
- Staff report
Briefly ...
The Kroger Co . has signed a $5.5 million contract with Volvo-GM Heavy Truck Corp. in Dublin for purchase of 85 road tractors for use at the supermarket chain's distribution centers in the Southeast and Midwest. The truck tractors will be delivered by March.
John H. Parrott & Associates has been selected to provide construction management services for remodeling of a main office in downtown Roanoke for Valley Bank and for construction of the bank's branch office near the intersection of Virginia 419 and Starkey Road in Roanoke County. Also, the company will provide services for construction of a 25,000-square-foot manufacturing plant in Montgomery County for South Star Corp.
Expert Edge Inc., a Roanoke-based consulting engineering firm and engineering software developer, has established a ``Home Page'' on the Internet's World Wide Web. The page, reached at http://www.infi.net/~xedge, offers an online guide to Internet resources for civil engineers, information about the company and demonstration copies of the company's engineering software.
Boone & Co.'s commercial real estate unit has negotiated the following leases for retailers: Lovely Nails at Towers Shopping Center for the store's owners, Ronnie and Vicki Vo; American Nails at K mart Plaza for Dong Dai and Suzanne Tran; Arthur Murray Dance Studio at Old Country Plaza for Mohammed Taher, with Copty and Co.; Lucia at Towers Shopping Center for Michael Greenburg; Martin Travel at Ridgewood Farms Shopping Center for Mel Ludivici; and Nationwide Insurance at Ridgewood Farms for Eric Reese.
by CNB