Companies

Orrstown Financial Services, the Shippensburg, Pa.-based parent company of Orrstown Bank, has announced that it has completed sale of distressed loans worth $45.6 million, reducing its troubled assets by 61 percent this year. The bank, which has offices in Cumberland, Franklin and Perry counties in Pennsylvania, and in Hagerstown on Eastern Boulevard, has been under the oversight of the Federal Reserve Bank of Philadelphia and the Pennsylvania Department of Banking since March this year.

Hagerstown-based ThompsonGas said Friday it has acquired three propane marketing companies in two southern states, making it the 16th-largest retail propane company in the United States. The ThompsonGas subsidiary, ThompsonGas-Smokies LLC, purchased Drivers Energy of Dawson, Ga., the Quality/Ideal Gas group in Griffin, Ga., and Tarheel Oil and Propane in North Wilkesboro, N.C., a company news release said. “We are continuing to greatly expand our presence in the Southeast and the whole East Coast of the United States,” President J. Randall Thompson said in the release.

Washington County businesses and private organizations consolidated their spending power to have one big holiday party Friday night at the Hager Hall Conference and Event Center in Hagerstown. Cindy Fowler, Hager Hall banquet manager, said the Holiday Bash for Businesses was created three years ago in order that small companies could pool their money to celebrate the holidays in a large venue. “You can come here and get the big party for the small price,” she said. Fowler said the bash has more than tripled in size from 30 participants the first year to about 100 this year.

Washington County and the city of Hagerstown are giving Duvinage nearly $68,000 to help the Hagerstown company through its acquisition of another staircase manufacturer. The Washington County Board of Commissioners approved the county's share on Tuesday. It's a loan, but will become a grant if the company meets certain conditions for hiring and retaining employees and for obtaining financing. Duvinage, which makes circular and spiral staircases, recently purchased Sharon Stairs, an Ohio stair manufacturer, and is shifting the production work to Hagerstown.

The thing that fascinates me most about American politics is that just when it seems as if we've seen it all, and the political landscape is in danger of becoming dull and monotonous, someone raises the bar. And indeed, shortly after the election, a handful of corporate executives stepped up to the plate to announce that, due to the Obama win, they would be forced - forced - to lay off workers or cut back hours. How great is that? We've all seen sore losers who want to take their ball and go home.

Duvinage, which makes circular and spiral staircases, has purchased an Ohio stair manufacturer and is shifting the production work to Hagerstown. Duvinage President Robert A. Maruszewski said Monday that the purchase of Sharon Stairs of Akron, Ohio, and the transfer of its equipment and work orders are complete. Because of the additional production, he said, Duvinage expects to add 50 more jobs in Hagerstown in the next five years - and possibly more, as the economy improves. Duvinage, which is on West Oak Ridge Drive, had 47 employees in 2007.

An Inwood, W.Va., beverage company that was recognized last month at the 28th Natural Products Expo East in Baltimore for creation of low-calorie tea is holding an open house Saturday from 11 a.m. to 1 a.m. Tours of the facility operated by Tropical Breeze Beverages at 4325 Gerrardstown Road will be available, as will the creators of the company's award winning Dr. B's Premium Microbrewed Tea, according to a news release. Producers of the expo announced on Sept. 24 that the family-owned company in southern Berkeley County was awarded Best New Food for its Coconut Tea. Founded by dentist Ken Banks in 2010, the company says on its website that it develops and manufactures ready-to-drink all-natural teas that have no sugar added and are naturally caffeine free.

Although it's a few months later than originally hoped, Antietam Fire Co. officials said Wednesday their move to Potomac Avenue in Hagerstown's North End could be completed in three to four weeks. Antietam Fire Co. President Ron Horn said some unexpected costs during the company's $400,000 renovation of the former Four Seasons RV building at 790-800 Potomac Ave. have delayed the process. “We've had to cut a lot of our construction costs out because it was just too costly to stay within budget,” Horn said.

A task force studying the suspended Fairplay Fire Co. voted Monday night that the fire company's leadership - including all administration and fire suppression officers - needs to be replaced. Task force member Allen James talked about the leadership change and the task force agreed that the change would come through an officers' election at the department. Task force member Steve Pifer said it's important that there be a “fair election” and James said it should be monitored by an outside agency.

The development company that sold land to Washington County's government for a new school Friday did so as part of its business aims but accepted a lower price “to get this done for the community,” the firm's attorney said. “It is indeed a shame when the president of the Board of County Commissioners considers it a 'brutal day' when the county votes to acquire a piece of property, deemed to be the most suitable and cost effective for a new state of the art elementary school, for $900,000 less than the asking price,” attorney Jason Divelbiss wrote in an email sent to The Herald-Mail on Thursday.