Business notebook

Orchids Paper Products Co., which specializes in making consumer tissue products, is investing at least $110 million to build a plant in the town of Barnwell that would to create 134 new jobs, the state Commerce Department announced Monday.

Orchids produces bulk tissue paper from both recycled and virgin fibers and converts it into a full product line of consumer tissue products.

The company, established in 1998, makes its products at plants in northeast Oklahoma and Mexicali, Mexico. Together, they produce about 94,000 tons per year. The Barnwell site is expected to produce approximately 35,000 to 40,000 tons per year, according to a news release.

The Coordinating Council for Economic Development approved a $1.9 million closing fund grant to help ith the costs of infrastructure improvements and site preparation as well as job development credits.

Moore, Frost to enter business hall of fame

Financier Darla Moore and preservationist Susan Pringle Frost have been selected as the 2015 inductees into the South Carolina Hall of Fame.

The hall is located at the Myrtle Beach Convention Center and its board announced the selections Monday. Each year the board selects one living and one deceased South Carolinian for inclusion in the hall.

Nation & World

Running out of options to keep his country afloat, Greek Prime Minister Alexis Tsipras ordered local governments to move their funds to the central bank.

With negotiations over bailout aid deadlocked, Tsipras needs the cash for salaries, pensions and a repayment to the International Monetary Fund. Greek bonds fell after the move, pushing three-year yields to the highest since the nation’s debt restructuring in 2012.

The decree to confiscate reserves now held in commercial banks and transfer them to the central bank could raise about $2.15 billion, according to two people familiar with the decision. It shows how time is running out for Tsipras, a point made by European officials who addressed the matter at IMF meetings in Washington in recent days.

IN BRIEF

▪  The South Carolina Ports Authority has failed for the fourth time to sell its old port of Port Royal in Beaufort County has fallen through. The Ports Authority board had approved a $15 million deal last year to sell the port to Furman Investment Advisory Services of Greenville.

▪  A Canadian group of private equity firms including TPG agreed Monday to buy Cirque du Soleil, a circus troupe from Montreal that grew into an international phenomenon. TPG has agreed to buy a majority stake, while Fosun of China and the provincial pension and investment fund, will take minority positions. The Cirque founder Guy Laliberté will retain a small holding.

From Staff and Wire Reports.

This story was originally published April 20, 2015 at 11:34 PM with the headline "Business notebook."