Wednesday, May 22, 2024

Regional Report Triad July11


WINSTON-SALEM — Lee Wyatt, 58, resigned as chief financial officer of Hanesbrands, saying he wants to pursue opportunities with turnaround or spin-off companies. The apparel maker appointed Dale Boyles, its controller and chief accounting officer, as interim CFO. In an unrelated matter, the company purchased Australian clothing distributor TNF Group for $9 million. It says the deal will expand sales of its Champion brand in Asia.

ELKINYadkin Valley Financial raised $6.4 million through a private placement of stock. All members of its board participated in the offering. CEO Joseph Towell says the bank would consider other opportunities to raise capital “as market conditions improve.”

YADKINVILLEUnifi began operations at its 50,000-square-foot recycling center here. At full production, it expects to process about 42 million pounds of plastic bottles and fiber and fabric waste a year into chips for use in its Repreve polyester yarn. The Greensboro-based textile maker hired about 25 to operate the center, increasing its local workforce to about 970.

MOCKSVILLEBank of the Carolinas is operating under a consent order with state and federal regulators, which increases their oversight of its operations. The bank agreed to reduce or charge off problem loans, maintain capital levels and revise its credit policies.

GREENSBORO — The Volvo Group — parent of Volvo Trucks and Mack Trucks, both locally based — is building a 39,000-square-foot addition to its 100,000-square-foot technical center here. The $8 million project will include adding equipment, eight truck bays and a larger design studio and is scheduled to be completed in March. The company employs 2,000 here, including 600 at the technical center, and didn’t say whether the expansion would add jobs.

ELON — The Best Colleges website ranks Elon University first among “The 50 Most Amazing College Campuses.” UNC Chapel Hill was 27th, Duke was 35th, and Wake Forest was 49th.

 GrowGreen Power plans to build a $250 million greenhouse and power plant in the Triad that will employ at least 300 when it begins operations in summer 2012. The Raleigh-based company had not selected a site by early June but said it hoped to begin construction early in the fall. It will grow tomatoes in a 50-acre hydroponic greenhouse powered by solar panels and burned wood waste and pulp.

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