Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, September 28, 1994 TAG: 9409290024
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WYTHEVILLE - The R.H. Sheppard Co. Inc. of Hanover, Pa., has bought a 64,000-square-foot shell building in Wythe County's Fairview Industrial Park to start making power-steering gears for heavy-duty trucks early next year. It will hire 20 people and send them to Hanover for training in December and January.
The company's president, Peter H. Sheppard, said Tuesday that the company had been seeking a Virginia location for about five years, after it ran across an Appalachian Power Co. flyer about Wytheville. Its representatives contacted Apco industrial development consultant Frank Crockett, and negotiations began with the Wythe County Joint Industrial Development Authority.
The building cost about $700,000 to build and was sold to Sheppard for $600,000.
All of Sheppard's facilities are in Hanover, where it employs about 675 people. Sheppard said it will build and expand new product lines exclusively in Wytheville.
- Staff report
Carilion subsidiary stock draws buyers
The 416,500 shares of Sterile Concepts Inc. stock that exchanged hands Tuesday shows that the company is creating a good level of interest, said Tyler Pugh, senior vice president and branch manager at Wheat First Singer Butcher, a securities broker in Roanoke.
Wheat First of Richmond and Salomon Brothers Inc., a New York investment broker, underwrote the issuance of 5,437,000 shares in the Richmond company, which packages custom medical procedure trays.
Sterile Concepts has been a subsidiary of Carilion Health System of Roanoke since 1984.
Tuesday was the first day of public trading for the stock, which was offered at $17 a share and closed at the same price, although at one point it blipped up to $17.121/2. The stock is listed on the New York Stock Exchange with the ticker symbol SYS.
- Staff report
Earnings ...
Revco D.S. Inc., parent of Revco drug stores, reported first-quarter net income of $5.8 million, or 10 cents per share, double the $2.7 million, or 5 cents, of the 1993 quarter. Sales grew 33.3 percent, from $521 million to $694.4 million, and same-store sales grew 9.2 percent. The results include three weeks of results from 800 drug stores, 35 home health care stores and a mail order operation acquired from Hook-SupeRx Inc. on July 15.
\ Hillenbrand Industries Inc., owner of Medeco Security Locks Inc. in Salem, reported a third-quarter net loss of $21.5 million, or 30 cents per share, on net revenues of $377.8 million, compared with income of $30 million, or 41 cents, on revenues of $340.6 million in the 1993 quarter. The 1994 results include costs of settling a patent-infringement lawsuit involving a subsidiary.
by CNB