TODAY'S HEADLINES |   MAY 31, 2012

FN awarded $18.7M contract to   make Army machine gun

The M240L is a new weapon   that has been developed to lighten the load troops carry on the battlefield.   The Defense Department contract calls for FN Manufacturing to make a maximum   of 27,000 M240L machine guns. The work will be performed in Richland County.

Graham warns possible cuts could   impact S.C. bases

Sen. Lindsey Graham spent   the past two days traveling around the state to rally support for South   Carolina's military bases. Graham spoke about the potential impact of $1.2   trillion in budget cuts, half of which are aimed at the Defense Department.

  SCE&G seeks rate hike to   cover nuclear financing costs

The Cayce-based utility   is seeking an overall 2.5% increase in electric rates under a state law that   allows it to adjust rates to cover the financing costs of building new   reactor units at the V.C. Summer Nuclear Station. The increase is expected to   be approved in October.

President Obama reauthorizes   Ex-Im Bank

The Export-Import Bank Reauthorization   Act of 2012 extends the bank's authority through 2014 and increases its   portfolio cap to $140 billion. The bank is a major lender to companies buying   S.C. products, such as Boeing commercial jets and GE gas turbines.

  Home construction picks up slowly  

Construction permit   activity shows the real estate market improving from 2010 but remaining well   behind pre-recession figures, according to data from the U.S. Census. Home   construction is mixed across the state’s largest metropolitan areas.

SEW-Eurodrive expanding in South   Carolina

SEW-Eurodrive Inc., a   manufacturer of industrial gear motors and electronics, today announced that   it will invest $20 million to expand its Lyman plant and hire 40 people. The   company is adding a new line to produce industrial gears used in heavy   lifting.

Foreclosures make up 16% of S.C.   home sales in Q1

Nationally, foreclosure   properties made up 26% of all residential sales in the first quarter of 2012.   In South Carolina, 2,112 homes in foreclosure were sold at an average sales   price of $121,022, according to the latest sales figures released by   RealtyTrac.

Add your company to our upcoming   lists

The Columbia Regional Business   Report will be featuring the following lists in upcoming print   issues. Add your company to our database.

• IT Network Design &   Management Cos.
• Commercial Real Estate Cos.
• Residential Real Estate Cos.