F&M National Corp., a holding company based in Winchester, Va., that has seven banking affiliates in Virginia and West Virginia and assets of $808 million, acquired the Peoples Bank of Central Virginia for an undisclosed amount.
On June 30, Lovingston-based Peoples Bank reported assets of $35.7 million.
As part of the agreement, shareholders of Peoples Bank will receive two shares of F&M National common stock for each share of Peoples Bank, for a minimum market value of $28 for each share of Peoples Bank stock at the time of exchange.
Peoples Bank will merge with the F&M Bank in Charlottesville later this year after approval by regulatory authorities.
Katcef Brothers Inc. of Annapolis, the distributor for Anheuser-Busch products in Anne Arundel, Howard and Baltimore counties, acquired Katsef Sales Inc., an Annapolis-based distributor of janitorial, paper and chemical supplies, for an undisclosed amount. Katsef Sales will be renamed Katcef Sales.
Ruppert Landscape Co. Inc. of Ashton, Md., acquired the equipment, field inventory and nurseries associated with the commercial landscape division of J.H. Burton and Sons Inc. of Olney for an undisclosed amount.
Hughes Network Systems Inc. of Germantown received contracts to provide a computerized satellite communications network to American Airlines Inc. of Dallas and its Sabre Travel Information Network Division and to deploy a similar satellite network for Univar Inc. of Seattle. Terms of the agreements were not disclosed.
Configuration Management and Product Assurance Corp. of Vienna was awarded a contract by MCI Communications Corp. of Washington to implement an automated software control and deployment system.
Oldham & Seltz of Washington received a contract to provide tenant construction documents and contract administration services for 846,000 square feet of office space at Postal Square in Washington.
KSK Communications Ltd. of Tysons Corner won a contract from the Reston-based U.S. office of GEC-Marconi Software Systems, a subsidiary of General Electric of Great Britain. KSK will develop a marketing communications program for a new product line that GEC-Marconi will introduce in North America.
History Associates Inc. of Rockville was awarded a contract by the Montgomery County Department of Libraries to manage its archives and current history program.
Ann E.W. Stone and Associates Inc. of Alexandria received a marketing contract from the Alan Flusser Shop of Washington.
Burson-Marsteller of Washington opened an office in Hungary in a joint venture with Hungarian Credit Bank and Skala Communications, which is owned by Skala Cooperative, the largest retailer in Hungary.
Safir Associates, an intelligence and investigative firm, opened in Fairfax.
The Three Sigma Group, a consulting firm for companies involved in space exploration and applications and telecommunications, opened in Vienna.
Archie B. Wainright formed Wainright Engineering Inc. in Bethesda.
American Corporate Services Inc., an events planning, management and production firm, opened in Washington.
RDP Inc. of Manassas introduced its Amusement Arcade Operations System, a hardware and software system for the coin-operated amusement industry.
Griendling Communications of Fairfax and Global Trade Services Ltd. of Brussels joined the Strategic Marketing Group Ltd. of Alexandria as principal firms.
Signet Banking Corp. of Richmond was named a certified bank lender for minority businesses in Virginia, Maryland and Washington by the Business Consortium Fund of the National Minority Supplier Development Council.
Foresight Science and Technology Inc. of Washington opened an office in Boca Raton, Fla.
Announcements of news and developments affecting Washington area companies should be sent to Regional Report, Business News Department, The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.