Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, September 22, 1994 TAG: 9409270138
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
General Injectables & Vaccines, a Bland County company that markets itself as the nation's largest supplier of flu vaccine, on Wednesday settled a lawsuit accusing one of its suppliers of breaking a contract to deliver 750,000 vials of the vaccine.
The agreement is filed under seal, however, so it's still unclear whether the Bastian company was able to strike a deal assuring that it will have enough flu vaccine to meet customer demand.
General Injectables, known as GIV, said in the suit filed earlier this week that Pennsylvania-based Connaught Laboratories Inc. refused to honor its agreement with GIV, but planned to sell the product to other customers.
The company asked the court for a temporary restraining order requiring Connaught to deliver immediately 300,000 vials of its "Fluzone" vaccine to GIV.
A hearing on the restraining order was scheduled for Wednesday in Abingdon, but a federal court clerk said the matter never made it into court.
Instead, the attorneys negotiated in the judge's office for most of the day before finally settling the suit. Civil suit settlements are often sealed if both parties ask the judge to do so.
- Staff report
Utilities' property rises in value
The value of property owned by Virginia utilities and trucking companies increased by an average 3.6 percent from 1993 to 1994, the State Corporation Commission reported Friday.
The total value of all tangible property, including real estate and equipment, owned by the state's 269 public service corporations increased $732 million from $20.2 billion to more than $20.9 billion.
The state's 22 electric utilities have the largest share of the total with property assessed at $13.5 billion, up $407 million from last year. Virginia Power of Richmond, the state's largest utility, owns property assessed at $9.8 billion, up $280 million. Appalachian Power Co. of Roanoke has Virginia property assessed at $1.1 billion, a 3.5 percent increase from last year's $1.063.
The nine gas and pipeline companies in Virginia hold property valued at $924.8 million, a 7 percent increase from last year. Roanoke Gas Co.'s assessment increased 6 percent from $33.7 million in 1983 to $35.7 million this year.
Bell Atlantic-Virginia has property valued at $3.8 billion, up $190 million from 1993, the agency said.
- Staff report
Briefly ...
Hechinger Co., Landover, Md., home store chain, said Wednesday it plans to offer for sale 5 million shares of its class A common stock. Net proceeds would be used to finance the company's expansion program, remodeling of existing stores and general corporate purposes. The stock, trading in the Nasdaq market, closed Wednesday at $14.75 a share, down 25 cents from Tuesday.
The New River Valley Polled Hereford Association will hold its annual sale Oct. 15 at the New River Valley Fairgrounds north of Dublin. Association members are offering heifers, cow/calf pairs and bulls for sale. The auction, being held in conjunction with the Virginia Polled Hereford Association, begins at 1 p.m.
For more information, call Stanley Reynolds at 804-432-3262; Richard Rollyson, 703-639-5250; Leroy Holmes, 703-951-2511; or Cara Talbert, 703-639-1860.
The Southwest Virginia Angus Association will hold its 22nd annual "More for Your Money" sale at noon Saturday at the Grandview Farm three miles east of Wytheville. The sale will feature 55 cow/calf pairs from 16 producers. For more information, call 228-8496 or 639-5023.
by CNB