The Week in Business
Ericsson tabs Wretsell for RTP
Triangle Business Journal
Hakan Wretsell will replace Anders Torstensson as Ericsson's executive vice president and general manager of Research Triangle Park-based mobile-phone operations May 1.
Torstensson is becoming president of European operations at one of the largest distributors of Ericsson mobile phones, Indianapolis-based Brightpoint. Wretsell is vice president of sales and marketing for the company's mobile phones and terminal operations in Latin America and is based in Miami. Ericsson has not announced if he will relocate to the Triangle.
Ericsson employs more than 1,100 in RTP.
Highwoods Properties has acquired the nine-story BTI Corporate Center on Six Forks Road in Raleigh.
Highwoods didn't disclose the acquisition price separately, but noted that it paid $36 million in cash for the building and the 148,000-square-foot University Research Center in Charlotte.
The BTI building has 163,000 square feet of leasable space. In conjunction with the purchase, Highwoods said it will build a 400-space parking deck at the BTI building this summer.
So far this year, Highwoods' acquisition and development activity totals $567 million.
Shop At Home Inc. of Nashville, Tenn., completed its acquisition of WRAY-TV of Wilson. The station is independent and broadcasts in the Raleigh area on Channel 40.
The purchase of WRAY was part of Shop At Home's acquisition of the assets of Global Broadcasting Systems Inc. for $75.9 million. Shop At Home acquired three TV stations: WRAY, KCNS of San Francisco and WOAC of Cleveland.
Shop At Home said in a news release that it plans to invest an additional $4 million to increase the power and quality of WRAY's and KCNS' signals.
Shop At Home is a diversified media holdings company with a focus on electronic, interactive home and Internet shopping.
Shareholders of Durham's Guaranty State Bank approved Triangle Bancorp's purchase of the company. Triangle announced its intent to purchase the bank in October. The stock-swap transaction values Guaranty at $39 million.
Interstate/Johnson Lane Inc., a Charlotte-based securities brokerage, opened a municipal finance office at the Forum One building in Raleigh, headed by Mark Hodge.
Hodge had been senior financial analyst at the N.C. Local Government Commission.
From 1993 to 1997, Interstate managed or co-managed 79 N.C. municipal bond offerings, more than any other underwriter.
Pepsi-Cola Bottling Company hosted a ground-breaking ceremony April 3 for its new $7 million, 142,000-square-foot sales and distribution center located in southeast Raleigh. Officials anticipate 80 new jobs in the Triangle upon completion.
The new plant will be located on 44 acres near the intersection of Interstate 40 and Jones Sausage Road. Pepsi intends to continue to run its bottling operation out of the current Wake Forest Road facility after the new facility opens next year.
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