This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

mail it to:
For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

or e-mail it to ForTheRecord@va-business.com,
or fax it to (804) 649-6311

Mergers and Acquisitions
AgWater Technologies of Harrisonburg, a provider of water treatment components and systems for the poultry and dairy industries, acquired the assets of Systeng Automation Systems of Tucker, Ga., a supplier of hatchery automation equipment to the chicken and turkey industry worldwide. (Business Wire)

American Management Systems of Fairfax, a global business and information technology consulting firm, plans to purchase R.M. Vredenburg & Co., a Reston-based provider of professional and technical services to the Department of Defense and U.S. intelligence communities, for about $42 million. (PR Newswire)

Appix, a McLean-based subsidiary of Advanced Technology Systems Inc. and provider of custom technology solutions, acquired Align360 of Richmond, a provider of IT and management consulting services to the insurance and financial services industries. (Business Wire)
Hilb, Rogal and Hamilton Co., an insurance and risk management intermediary headquartered in Richmond, acquired the remaining 49 percent interest in New World E&S, a provider of surety insurance services. (Press release)

Innovative Technology Application Inc. of Springfield, a federal contractor specializing in knowledge management and counterterrorism consulting products and services, acquired IT Specialists Inc., an information technology consulting firm to the federal government, also of Springfield. (Press release)

O’Connor Group, an ad agency based in Roanoke, plans to merge with ad agency Serendipity Communications Inc. of Christiansburg to broaden the scope, scale and range of services for all clients to accommodate business growth and strengthen public relations and media capabilities. (Press release)

Pentagon Federal Credit Union of Alexandria plans to acquire Fort Hood Military Federal Credit Union of Killeen, Texas, effective Sept. 1, providing a worldwide service structure for the military serving at Fort Hood. (Press release)

Smithfield Foods Inc., a hog farmer and pork producer headquartered in Smithfield, plans to buy the pork division of Missouri-based Farmland Industries Inc., a bankrupt Midwestern farmer’s cooperative, for $363.5 million. (The Virginian-Pilot); The company also acquired Global Culinary Solutions Inc., a pork and beef producer of Illinois, and formed the Smithfield Innovation Group to develop new products for the retail, club store and food service channels. (PR Newswire)

Southern Community Bank & Trust of Midlothian purchased all the outstanding stock of Community First Mortgage Corp., a Richmond-based mortgage company. (Richmond Times-Dispatch)

Southern Financial Bancorp Inc., a Warrenton-based financial services provider, plans to acquire Essex Bancorp Inc. of Richmond in the first quarter of 2004, in order to offer clients more products, services and convenience. (PR Newswire)

United Dominion Realty Trust Inc., a real estate investment trust headquartered in Richmond, acquired Inlet Bay at Gateway Apartments, a 464-apartment home community in St. Petersburg, Fla., for $30.7 million in cash. (Press release)

Deals
AnnuityNet Inc. of Herndon, a software technology company, and Wachovia Insurance Agency Inc. of Charlotte, N.C., plan to combine their annuity services and technology into a single company initially named AnnuityNet/VARDS that will offer online annuity order entry and servicing. (Press release)

Fleshner & Kim, a Chantilly-based provider of intellectual property and corporate services to high-tech clients, was chosen by IQ Biometrix Inc. of Fremont, Calif., a worldwide provider of facial composite technology for law enforcement agencies, to advise the company’s new intellectual property division. (Business Wire)

Hampton University was made a full member of the National Institute of Aerospace to run the NASA research program through its world-renowned atmospheric sciences program and close ties to Langley. (Roanoke Times)

The Hodges Partnership of Richmond, a public relations firm, announced three new Richmond-based clients: SnagAJob.com Inc., an online resource for hourly work; Virginia Credit Union, a nonprofit financial cooperative; and Doctors’ Patient Education Network, which provides physicians with products to help patients understand health situations. (Press release)

LandAmerica Financial Group Inc., a provider of real estate transaction services headquartered in Richmond, announced a joint venture, LandIsrael A.C.K. Insurance Agency, with Ayalon Holdings of Tel Aviv, and Shield International of Los Angeles. (Press release)

Nextel Communications Inc., a Reston-based provider of fully integrated wireless communications services, was chosen by Univision Communications Inc., a Los Angeles-based Spanish-language media company, to be the official sponsor and exclusive wireless carrier of the Gold Cup, North America’s largest soccer tournament. (Business Wire)

Riverside Logistics of Richmond, a provider of warehousing and logistics management and consulting, was selected to provide outbound freight brokerage services for America Sejung Corp., a Korea-based importer of pianos. (Press release)

Susan Carol Associates Public Relations Inc. of Stafford formed an alliance with public relations, public affairs and marketing strategy firm, Hierarchy Consulting of London to help SCAPR better serve its growing roster of international clients, especially in the financial services industry. (Press release)

Xybernaut Corp., a provider of wearable/mobile computing hardware, software and services based in Fairfax, was appointed by the Institute for Security Studies to assume executive directorship for administration and program management of the National Technology Alliance for homeland security initiatives. (Business Wire)

New Plants and Companies
First Tennessee National Corp., a banking company headquartered in Memphis, plans to open six bank branches in Northern Virginia that will do business as First Horizon Bank, First Tennessee’s Dallas-based national financial services affiliate. (The Washington Post)

People
Paul J. Collins, CEO and partner, Waters Advertising Agency of Newport News. (Press release)

Paul D. Fletcher, senior vice president and CFO, Trex Co., a Winchester manufacturer of decking and railing. He previously served as vice president of finance. (Business Wire)

Everette W. Fortner, director of career development at the Darden School, the University of Virginia’s Graduate School of Business Administration. (Business Wire)

Jeffrey Gelfand, CFO, Wachovia Securities, a financial advisory organization, headquartered in Richmond.

Hugh E. Montgomery Jr., director, the Virginia Institute for Defense and Homeland Security in Herndon, a university and industry research consortium delivering solutions supporting national defense and homeland security objectives. (Press release)

Gerald L. “Jerry” Passaro, CEO, Harbor Bank, a retail and commercial banking products provider based in Newport News. He is also president and COO. (Press release)

Jay R. Sculley, president of Fairfax-based Aviation, Navigation and Satellite Programs Inc., an integrator of technologies that enhance aviation safety, security and efficiency. (Press release)

James Verney, president and CEO of Austins Steaks and Saloon of Roanoke, the parent company of Western Sizzlin Corp. (Roanoke Times)

Contracts

Cutbacks and Closings
Abacus Communications, a call center headquartered in Virginia Beach, laid off approximately 400 workers after losing a major contract. (The Virginian-Pilot)

Aerus Electrolux of Dallas, a floor care products provider, plans to close its Bristol plant, eliminating 175 jobs as it consolidates its operations at its headquarters. (Bristol Herald Courier)

Atlantic Mutual, a provider of insurance products and services based in New York, plans to cut 10 percent of its work force in Roanoke as company officials streamline operations by integrating more technology and relying on fewer layers of management. (Roanoke Times)

Diamond T Transportation Systems Inc., a logistics company headquartered in Norfolk, plans to cease operations due to poor financial performance. (The Virginian-Pilot)

Dominion Resources Inc. of Richmond, an energy company, plans to lay off workers at its Dominion Telecom subsidiary, a provider of wholesale telecommunications services to other carriers, which has suffered a slump in the past three years. (Richmond Times-Dispatch)

Hooker Furniture, a Martinsville-based furniture manufacturer, cut 36 jobs at its plywood plant, as a result of sluggish consumer demand and competition from imported furniture. (Roanoke Times)

Star Scientific Inc. of Chester, a technology-oriented tobacco company with a toxin reduction mission, and North Atlantic Trading Co., a holding company based in New York, agreed to the termination of the Asset Purchase Agreement entered into on Feb. 18, due to uncertainties in the tobacco industry. (Business Wire)

UnitedHealth Group, a health care company based in Minnesota, plans to lay off approximately 200 workers at its Roanoke call center as the company restructures to improve services available to 35 million American Association of Retired Persons members. (Roanoke Times)

XO Communications Inc., of Reston, a local and long-distance telephone and Internet services provider, plans to shut down some offices and lay off 500 workers in its finance, marketing and human resources divisions by the end of the year as it moves to consolidate its operations. (The Washington Post)

Divestitures
The Brinks Co. of Richmond, a leader in business and security services, plans to sell its natural gas business to an affiliate of Connecticut-based First Reserve Corp., a private equity firm, and its timber business to an investment fund managed by The Forestland Group of N.C., a timberland investment management organization, for $119 million. (Business Wire)

Expansions
General Dynamics Armament and Technical Products, a Burlington, Vt.-based business unit of General Dynamics that specializes in armament systems, plans to invest $6.5 million to expand in Smyth County and relocate its Resin Transfer Molding operation to its existing Marion facility, creating 120 jobs. (Press release)
XO Communications Inc., a telephone and Internet services provider based in Reston, plans to hire 300 people to work in sales throughout its organization. (The Washington Post)

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Real Estate
Armada Hoffler of Chesapeake, a commercial real estate and construction company, opened new offices in The Town Center of Virginia Beach. (Press release)

Corporate Office Properties Trust, a real estate investment trust in Columbia, Md., signed The Aerospace Corp., a California-based private, nonprofit firm providing research, development and advisory services for the U.S. Government, to a long-term lease for 88,094 square feet at the Westfields Corporate Center in Chantilly. (Business Wire)

Divaris Real Estate Inc., a Virginia Beach international real estate brokerage and property management firm, signed a lease with systems integrator and training technology company Professional Software Engineering Inc., also of Virginia Beach, for 21,489 square feet in the Pinehurst Centre in Virginia Beach. (Press release)

Procaccianti Group of Cranston, R.I., a hospitality management company, plans to purchase the 23-story, 405-room Norfolk Waterside Marriott Hotel for $8 million. (The Virginian-Pilot)

The State Fair of Virginia purchased the 347-acre Meadow Farm in Caroline County and plans to move the event there as soon as 2006. (Richmond Times-Dispatch)

Taubman Centers Inc., The Bloomfield Hills, Mich.-based owner and manager of MacArthur Center in Norfolk, increased its stake in the mall from 70 percent to 95 percent through a $45.4 million deal with Norfolk Place, a partnership controlled by the mall’s original developer. (The Virginian-Pilot)

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Financing
Hilb, Rogal and Hamilton Co. of Richmond, an insurance intermediary, plans to purchase up to $50 million of its common stock for 2003, an increase from the prior $20 million authorization. (Press release)

Ikimbo Inc., a provider of real time communications based in Herndon, closed a round of financing totaling $2 million led by Cross Atlantic Capital Partners, a venture capital firm headquartered in Radnor, Pa. (Business Wire)

Insmed Inc., a Richmond-based biopharmaceutical company, completed a private placement of common stock to a group of institutional investors, raising nearly $12 million in gross proceeds. (Business Wire)

Metrocall Holdings Inc. of Alexandria, a narrowband wireless paging carrier, voluntarily retired in full the remaining $11.5 million outstanding aggregate principal amount of its 12 percent senior subordinated PIK Notes. (Business Wire)

Noland Co., a Newport News wholesale distributor of equipment and supplies to the construction and manufacturing industry, was approved to transfer its share listing from the NASDAQ National Market to the NASDAQ SmallCap Market. (PR Newswire)

Orbital Sciences Corp. of Dulles, a space systems maker, entered into a purchase agreement for a private offering of $135 million senior notes, with proceeds to be used with cash on hand to repurchase or redeem all of its outstanding $135 million, 12 percent second priority notes due 2006. (Press release)

Pequot Ventures, a direct venture investment firm of Westport, Conn., plans to buy approximately $25 million of stock and notes, the proceeds of which are to provide Analex Corp., a provider of intelligence, systems engineering and biodefense services headquartered in Alexandria, with funds to support future acquisitions. (PR Newswire)

United Defense Industries Inc. of Arlington, a maker of munitions and combat vehicles used by the U.S. Department of Defense and allies worldwide, plans to offer 10.8 million shares of its common stock for sale to the public. (Business Wire)

The Virginia Department of Business Assistance approved $1.6 million in financing to Intertape Polymer Group of Canada, a specialized polyolefin plastic and paper packaging products maker, to assist in the construction of a 200,000-square-foot distribution center at its Pittsylvania County facility, adding 50 jobs. (Press release)

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Noteworthy
The Arlington County Board told Virginia baseball authorities to remove the county from consideration as the new home of Major League Baseball’s Montreal Expos because the potential benefits of having a baseball team in the county were not sufficient. (The Washington Post)

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