Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, August 31, 1994 TAG: 9408310045
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WLR Foods Inc., Broadway, Va.-based turkey processor and parent of Cassco Ice & Cold Storage in Roanoke, said Tuesday it has completed its purchase of the turkey processing and production assets of Cuddy Farms Inc., making WLR Foods the nation's second-largest turkey company.
WLR Foods paid $43 million in cash and issued 1,183,333 shares of its common stock, valued for the transaction at $24 each, to acquire a turkey processing complex, a further processing plant, the lease of a second further processing plant, a feed mill and growout operations and Cuddy's interest in a cold storage and distribution facility, all in North Carolina, with additional growout operations in South Carolina.
|- Staff report
Columbia/HCA
in Fla. venture
Columbia/HCA Healthcare Corp., Louisville, Ky., parent of Lewis-Gale Hospital in Salem, said Tuesday it has signed a letter of intent with Memorial Healthcare System Inc. to form a joint venture for Memorial Hospital Jacksonville in Jacksonville, Fla. Terms of the transaction were not disclosed.
In addition to the 353-bed acute-care Memorial Hospital, the joint venture would include Memorial Specialty Hospital of Jacksonville, which is a 107-bed long-term acute-care facility, an outpatient surgery center and other ancillary health facilities.
|- Staff report
Earnings reports
Georgia Bonded Fibers Inc., Buena Vista maker of fiberboard and foam products, and its subsidiaries in Italy and Mexico reported consolidated net income of $1.3 million, or 85 cents per share, for its fiscal year ended June 30, up from $193,000, or 12 cents per share, the prior year. Sales were $47.7 million compared with year-earlier $46.7 million. For its fourth quarter, the company reported net income of $471,000, or 30 cents per share, down from year-earlier $1.2 million, or 74 cents. Sales were $13.9 million compared with $14.2 million.
Rowe Furniture Corp., Arlington-based manufacturer with operations in Salem, said Tuesday it expects to report shipments, or revenues, of $26.5 million or more and earnings equal to 15 cents per share for its third quarter, ended Aug. 28. Actual results are to be reported the week of Sept. 12, the company said. The results will compare with shipments of $20.8 million and earnings equal to 9 cents per share a year earlier. Rowe said its manufacturing facilities are operating on extended production schedules and that the company has added 140 new accounts since April.
|- Staff report
by CNB