Regional Report Triad November 2013
Manufacturing takes off at PTI
It’s no secret Piedmont Triad International Airport has seen its passenger traffic slow. Despite “fly local” cheerleading from business leaders, many travelers routinely bypass the airport
on the western edge of Guilford County to drive more than an hour to Raleigh-Durham or Charlotte Douglas international airports for more flights, choices of airlines and sometimes lower fares. PTI’s boarding figures show a 5% year-to-date decrease, to 487,652, through the first seven months of 2013. But while passenger traffic isn’t climbing, manufacturing there is taking off.
GREENSBORO — Lorillard acquired SKYCIG for about $49 million and could pay more in 2016 if the United Kingdom-based electronic-cigarette-maker reaches certain financial goals. The nation’s third-largest cigarette-maker acquired Charlotte-based blu ecigs for $135 million last year (cover story, March).
HIGH POINT — Jeffrey S. Miller will retire as president of High Point Regional Health System once a successor is selected. Miller has led the hospital for 25 years and helped shepherd it through its recent merger with Chapel Hill-based UNC Health Care System. His tenure included the creation of Carolina Regional Heart Center
and Hayworth Cancer Center.
HIGH POINT — Sterling Consolidated acquired Superior Seals and Service for an undisclosed amount. The purchase will give the Neptune, N.J.-based industrial manufacturer a strategic distribution point on the East Coast. Superior makes gaskets and mechanical seals.
WHITSETT — Ascension Insurance purchased Transure Services, a transportation- and trucking-insurance broker, for an undisclosed amount. The acquisition will triple the revenue of the Walnut Creek, Calif.-based company, which has been expanding eastward in recent years.
WINSTON-SALEM — BB&T has expanded in the Midwest by adding a corporate-banking team in Chicago that will focus on food, agribusiness and beverage companies. The bank has already created similar teams in Cincinnati, San Francisco and Dallas.