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The Briefcase

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Harris Teeter agrees to sell Triad dairy plant

Harris Teeter said Tuesday it has agreed to sell its Hunter Farms dairy-processing plant in High Point to Maryland & Virginia Milk Producers Cooperative Association Inc.

The sale is expected to close Aug. 30. Terms of the sale were not disclosed. Harris Teeter said it will continue to carry Hunter Farms’ products.

The plant, which has about 160 full-time employees, also supplies dairy products to other major retail and restaurant chains across the Southeast. The employees are expected to transfer to the cooperative.

The cooperative, founded in 1920, represents more than 900 dairy-farm families in 13 states that bottle Maola brand milk and dairy products. It also owns processing facilities in Newport News, Va., Strasburg, Va., Laurel, Md., and Landover, Md.

“The purchase of the Hunter Farms dairy-processing plant is a long-term investment and growth opportunity for our cooperative in the High Point community,” said Jay Bryant, the cooperative’s chief executive.

-- Richard Craver, Journal

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Insteel Industries board declares 3-cent dividend

The board of directors for Insteel Industries Inc. declared Tuesday a quarterly cash dividend of 3 cents per share on its common stock.

The dividend is payable Sept. 24 to shareholders registered as of Sept. 10.

-- Richard Craver, Journal

Richard Craver</&h6>

Surrey Bancorp board declares 10.5-cent dividend

The board of directors for Surrey Bancorp declared Wednesday a quarterly cash dividend of 10.5 cents per share on its common stock.

The dividend is payable Oct. 8 to shareholders registered as of Sept. 17.

Harger Inc., a supplier of electrical protection equipment, said Wednesday it will expand its operations in Robeson County, creating 20 jobs and spending $3.2 million on capital investments.

-- Richard Craver, Journal

Richard Craver</&h6>

Greensboro property sells for $758,000

The property of a Jiffy Lube oil-change store in Greensboro has been sold for $758,000 to a Colorado group, according to a Guilford County Register of Deeds filing Wednesday.

The buyer of the property at 2938 Randleman Road is Hammel Properties LLC of Fort Collins, Colo. The seller is Grace Bay LLC of Chapel Hill.

The board of directors for Surrey Bancorp declared Wednesday a quarterly cash dividend of 10.5 cents per share on its common stock.

The dividend is payable Oct. 8 to shareholders registered as of Sept. 17.

-- Richard Craver, Journal

Richard Craver</&h6>

Electric equipment supplier plans Robeson expansion

Harger Inc., a supplier of electrical protection equipment, said Wednesday it will expand its operations in Robeson County, creating 20 jobs and spending $3.2 million on capital investments.

Harger, headquartered in Grayslake, Ill., provides solutions for lightning protection and the grounding of electrical equipment.

The expansion in Fairmont will support new product lines in both grounding and lightning protection.

The average annual wage for the new jobs is $39,408. By comparison, the Robeson average annual wage is $35,003.Richard Craver</&h6>

-- Richard Craver, Journal

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