Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, October 10, 1995                   TAG: 9510100055
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

SMITHFIELD - Smithfield Foods Inc., parent of Valleydale Foods Inc. of Salem, has agreed to buy all of the common stock of John Morrell & Co. from Chiquita Brands International Inc. for $58 million. The purchase is subject to regulatory approval and completion of a definitive agreement, but is expected to close by Dec. 31.

Morrell has fresh-pork and processed-meat plants in five Midwestern and Western cities. It slaughters about 30,000 hogs a day and reported sales of $1.4 billion in its 1994 fiscal year.

Smithfield sells pork and processed meats, primarily in the Mid-Atlantic and Southeastern United States. It reported sales of $1.5 billion in the year ended April 30.

- Staff report

2 companies win ISO certification

Two companies with Western Virginia operations have been certified by the International Organization for Standardization, which sets criteria for quality management, of particular use in global markets.

Corrugated Container Corp., a Roanoke County maker of boxes and retail merchandise displays, said it is the only corrugated-sheet plant in Virginia with the ISO 9000 designation.

Noland Corp., a Newport News distributor of equipment to the construction industry and manufacturers, said its industrial supply branches in Martinsville and Seaford, Del., have received ISO 9002 registration for industrial distribution. The designation requires measuring product handling, purchasing, employee training and document control.

- Staff report

Crestar installs new ATM feature

Crestar Bank said it has added a feature to automated teller machines at seven of its 16 Roanoke Valley branches that enables customers to get updated account statements. The new service is available at the Crossroads, Roanoke-Salem, Hollins, Lewis-Gale, Towers, Vinton and Spartan Square offices.

Customers with ATM cards can select an option from the machines' menu that provides a printed summary of all account activity since the last bank statement through the end of the previous business day.

- Staff report

Briefly ...

Domestic coal production totaled 20.6 million tons in the week ended Sept. 30, down from 20.7 million tons the previous week, the U.S. Department of Energy reported Monday. The U.S. coal industry produced 20.7 million tons in the same week last year. Coal production so far this year is 771 million tons, less than 1 percent ahead of last year.

N&W Federal Credit Union today opens a branch office in West Salem Plaza at 852 W. Main St., Salem, in an office formerly occupied by Signet Bank. Kellie Anne East will manage the branch.