Virginia Businesses in the News


Cutbacks and Closings

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

Dimon, a Danville-based tobacco processor, announced plans to close its Danville production plant in March 2005 with a loss of 510 jobs. The company will consolidate operations at its Farmville facility where it will add 100 to 150 jobs. Declining tobacco sales were cited in the move. (06/24/2004, The Associated Press)

Dan River, a Danville-based textile manufacturer, said it will cease third-shift sewing and comforter production with a loss of 312 jobs. The layoffs are the largest by the company since January 2000 when it transferred apparel fabric operations to Mexico. (06/23/2004, Danville Register & Bee)

The Commonwealth Transportation Board cut $1 billion from the Virginia Department of Transportation’s six-year road plan. The new plan calls for $6.3 billion to study, design and build 1,748 different projects. Last year’s budget was $7.4 billion. (06/18/2004, Richmond Times-Dispatch)

Dimon, a Danville-based tobacco producer, announced plans to close its Danville processing plant in March 2005. The closing will affect 60 full-time and approximately 450 seasonal workers. The closing comes as the company consolidates its U.S. processing operations in a restructuring forced by falling demand for domestically grown tobacco. (06/11/2004, Richmond Times-Dispatch)

Howmet Castings, a Hampton manufacturer of industrial parts, laid off 120 workers after cancellation of new power plant projects cut demand for the metal blades it produced for turbine engines. (06/09/2004, Daily Press)

Honeywell International, an industrial manufacturer based in Morris Township, N.J., announced plans to lay off as many as 100 workers at its Chesterfield County nylon plant. High cost of raw materials and weakened demand from carpet mills were cited for the decision. (06/02/2004, Richmond Times-Dispatch)