THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Tuesday, October 25, 1994 TAG: 9410250296
SECTION: BUSINESS PAGE: D02 EDITION: FINAL
LENGTH: Medium: 58 lines
JAMES RIVER CORP. ROLLS OUT NEW TOILET PAPER: James River Corp. is trying to put the squeeze on best-selling Charmin with a new toilet paper that's touted as the first brand to pass the test of not disintegrating when it gets wet. After three years and $1 million worth of research, the Richmond-based paper company has launched sales of Quilted Northern Wet or Dry with a $5.5 million advertising campaign. James River sells more than $2 billion worth of tissue and towels in the United States and Europe each year. (AP)
UNION CAMP BAGS BAG BUSINESS: Union Camp Corp. said it is closing a plant in Savannah, Ga., and negotiating to sell a Richmond plant as part of a decision to quit making and marketing retail paper bags. About 360 people work at the Savannah plant, 235 at the Richmond plant. (Staff)
GUY W. FORD TO DIRECT RESEARCH FOR SCOTT & STRINGFELLOW: Scott & Stringfellow Inc. announced that Guy W. Ford, a vice president of the firm, has been promoted to director of research and equity services. He replaces Jeffrey D. Levin, who recently left the firm to start his own company. Ford, 40, was previously based in the firm's Norfolk office and has been an analyst with Scott & Stringfellow for nearly 13 years. (Staff)
RICHFOOD IN NEW S&P INDEX: Richfood Holdings Inc. has been chosen for inclusion in the S&P SmallCap 600, a new index designed by Standard & Poor's Corp. to track the stock performance of small-capitalization companies. Richfood Holdings Inc., headquartered in Richmond, is the largest wholesale food distributor in the mid-Atlantic. (Staff) EARNINGS
UNION CAMP'S EARNINGS SURGE: Union Camp Corp. said net income rose fourfold as demand for its linerboard and container products increased. The paper, wood and chemical products company said net income rose to $21.7 million, or 31 cents a share, from $4.9 million, or 7 cents, a year ago. The latest results reflect a pretax charge of $11 million, or 10 cents a share after-tax, for the company's withdrawal from the retail paper bag business. Year-ago net income reflected a tax-related charge of $16 million, or 16 cents. Revenue rose 10 percent to $856.3 million in the most recent quarter. (Bloomberg) DIVIDEND
NORFOLK SOUTHERN DECLARES PAYOUT: Norfolk Southern Corporation declared a regular quarterly dividend of 48 cents per share on its common stock, payable on December 10 to stockholders of record on November 4. (Staff) by CNB