RICHMOND, Va. - NationsBank Corp. said it had sold its Richmond print shop.
The bank announced in September that it would convert the shop into an independent, minority-owned business.
The buyer was Bill Cooper, a former hotel executive, who will begin operating the shop Jan. 1 under the name Choice Communications Inc.
Terms of the sale were not disclosed, but Choice will get an initial $2 million a year in NationsBank business.
NationsBank is also transferring $470,000 in equipment and other assets to Choice Communications. All 17 NationsBank employees at the print shop will join the new company's payroll.
