THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, August 22, 1996 TAG: 9608220519
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 50 lines
Virginia and Scotland form partnership
Virginia and the Scottish government plan to open a joint office to help high-tech companies export, sell and market their products. Called the Virginia-Scotland Partnership, the liaison office will serve Virginia and Scottish high-tech companies that are seeking matchmaking possibilities, particularly in the areas of software, information technology, contract electronics, optoelectronics and biotechnology. About 60 companies are expected to participate the first year. The partnership is located at the Virginia Center for Innovative Technology near the Washington Dulles International Airport. (Staff)
Moon/Dreadnought get contracts for destroyers
The Navy awarded two contracts for work on two destroyers to two local ship-repair companies. Dreadnought Marine Inc. won a $2.9 million contract for maintenance and repairs on the destroyer Caron. The Norfolk ship-repair firm expects a small increase in its 240-person work force to handle the 60-day job, which starts in late September. Moon Engineering Co. Inc. won a $1.9 million contract for maintenance and repairs on the guided-missile destroyer Stout. The Stout arrives in the small Portsmouth shipyard Sept. 16 and will stay until early December. Moon employs about 220. (Staff)
Fred's won't purchase Rose's Stores Inc.
Fred's Inc., a Memphis, Tenn.-based chain of discount stores, said it has decided not to go through with a deal to purchase Rose's Stores Inc. Bruce D. Smith, Fred's chief financial officer, said both companies' boards decided the acquisition would not serve their interests. Rose's, a Henderson, N.C.-based chain with six outlets in South Hampton Roads, emerged from bankruptcy protection last year. Fred's offered to buy Rose's in April for $19 million in stock. (Staff and Bloomberg Business News)
Return of ValuJet unlikely this month
ValuJet appears unlikely to return to the skies this month. The Federal Aviation Administration said it was unsure when the agency would reach a decision on the airline's fitness. In other airline news:
USAir applied for four routes to London's Heathrow Airport from Boston, Philadelphia, Pittsburgh and Charlotte.
The government has proposed to let Pan Am fly again. The department issued an order concluding that the airline is ``fit, willing and able'' to resume flying.
Trans World Airlines hired a top executive, Edward Soule, from the St. Louis brokerage firm of Edward Jones to be the airline's chief financial officer. (AP and Bloomberg) by CNB