ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, May 2, 1996 TAG: 9605020034
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
Developer to buy golf course on lake
Ronald L. Willard, president of The Willard Cos. and a developer at Smith Mountain Lake, said Wednesday he has agreed to buy the Chestnut Creek golf course and country club on the Franklin County side of the lake from S. Brooke Corporation. The deal does not include developed lots, undeveloped lots or the marina at Chestnut Creek.
The purchase price for the 150 acres was not disclosed. Willard said he will announce the price when the deal closes about May31.
This will be Willard's third country club at the lake. He already owns The Waterfront and the Water's Edge.
Willard is acquiring all furnishings and equipment, including golf shop supplies, food in the kitchen and computers. The course has 18 holes and a driving range, and the club has a pool.
He said he may change the name of the club after the sale is complete. He also plans some improvements.
Willard said he will continue to welcome public use of the facility.
- Staff report
Briefly ...
Moovies Inc., a Greenville, S.C., video chain with operations in the Roanoke Valley, said Wednesday it has registered with the Securities and Exchange Commission the sale of 3.2 million shares of common stock. The stock, traded on the Nasdaq stock exchange, closed Wednesday at $12 a share, unchanged from Tuesday. Proceeds will be used to finance Moovies' acquisition and new store programs, repay indebtedness, and for general corporate purposes.
R. Frazier Inc. of Salem said it has opened an office in Austin, Texas. The international computer, electronics and telecommunication recycling company said it chose Austin, in part, because of the rapid growth of computer and electronics manufacturing there. The company's other offices are in Atlanta, the United Kingdom, France, China and Costa Rica.
Bontex Georgia Bonded Fibers Inc., which operates a plant in Buena Vista, has opened a sales office in Hong Kong to coordinate sales there of footwear, headwear, handbag, luggage, leather goods and allied industries. Georgia Bonded Fibers manufactures Bontex impregnated paperboard, which is made from recycled and primary wood fibers and treated to retard the growth of mold, fungi and bacteria.
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