THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, April 8, 1995 TAG: 9504080313
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Digest
LENGTH: Short : 23 lines
Canon Virginia Inc., which moved to Newport News a decade ago and currently has about 1,200 workers, plans to invest $5 million in a new factory in the city, which will employ about 70 people. Officials said the new plant will manufacture electronic components for Canon's copiers and printers. The company is negotiating with the city to lease a vacant 61,000-square-foot shell building in a Newport News industrial park. The plan calls for Canon to sign a 10-year lease with two five-year options for the building and its 10.7 acres. The company also has an option to buy the building, which has been vacant since it was completed in 1992. (AP) by CNB