THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, July 27, 1996 TAG: 9607270350
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 40 lines
Newport News-based Dynamic Engineering Inc. and the Center for Innovative Technology officially opened the new Center for Rapid Prototyping Friday. With more than $2 million invested in equipment and software, the center will create more than 100 jobs and help businesses save money in research and development. Designers and engineers can create three-dimensional computer images of products and perform tests on the products to discover problems before they occur and before production begins. The new facility is in DEI's headquarters in the Oyster Point area of Newport News. (Staff) Essex Bancorp completes the sale of three branches
Essex Bancorp Inc. said it completed the sale of three Essex Savings Bank branches in North Carolina and transferred $73 million of deposits to Centura Bank Inc. The branches are in Raleigh, Greensboro and Wilmington. Earlier this month, Virginia Beach-based Essex announced a separate agreement to sell five Essex Savings branches in Hampton Roads and $70 million of deposits to CENIT Bank of Norfolk. That transaction is due to be completed this fall. (Staff) Retirees lose benefits after buyout by Food Lion
Former employees of a grocery chain bought out by Food Lion are protesting Food Lion's decision not to pay some of their retirement benefits. More than a dozen former employees of Food Fair, some in wheelchairs or holding canes, picketed outside a Food Lion store Thursday, asking customers to boycott all Food Lion stores. The retirees are members of a group calling itself the Forgotten Forty-Two. The 42 retirees lost health insurance, life insurance and a prescription-drug plan when Food Lion agreed to buy the 11-store Food Fair chain in February from J.G. Messick & Sons Inc. The group did not lose pension payments. (AP) by CNB