NORTH HUNTINGDON, Pa., Sept. 2 /PRNewswire-FirstCall/ -- Beacon Redevelopment Industrial Corporation today announced that they have received an overwhelming amount of bids for the salvage of its Westmoreland Glass Factory.
The company has reviewed all of the bids, and is over whelmed with the interest in this project. To this point the current bids have significantly exceeded any unsolicited private offers including the previously announced offer of $5,500,000 dollars.
"I have received requests from some major firms asking for a bid extension, and at first I said no. Then I thought about it. You know what, if they pay the company more money, it's in the best interest of the company and its shareholders. Then I agreed to a ten day bid extension," said Adam Marek President & CEO.
Mr. Marek also stated, "I would like to conclude this bidding process, however if more revenues can be extracted, that is what I will do. It is in the best interest of the company and its shareholders."
About Beacon Redevelopment Industrial Corporation:
Beacon specializes in acquiring undervalued properties that offer the potential for above average return on investment along with multiple assets and development ability at distressed prices, the properties must offer recyclable/salvageable materials along with the potential for redevelopment and or desirable development potential; the company also seeks along with the above for mentioned, properties that have the possibility for governmental grants, tax rebates or deferments as part of their criteria for acquisition. Please visit the company's website at www.beaconredevelopment.com for all the latest information and updates.
This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Beacon Redevelopment Industrial Corporation
CONTACT: Adam Marek of Beacon Redevelopment Industrial Corporation,
+1-724-871-7458, AdamMarek@BeaconRedevelopment.com
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I find this all very hard to believe after reading that "demolition forum" site.
demolitionforum.com
about this Westmoreland Glasss factory demo project:
"#2 (permalink) 08-06-2008, 02:03 PM
wrecknall
Member Join Date: Jun 2008
Location: N.W. Arkansas
Posts: 10
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must be nice to want .50 to .75 cents with out handling them. and it looks like they want prepared price for their steel. if any1 wants i'll sell them steel for 300$-ton come get it.
#3 (permalink) 08-07-2008, 10:19 AM
Wolf
Senior Member Join Date: Apr 2006
Posts: 338
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Yeah, do you think these numbers make sense, or is this company Beacon Redevelopment Industrial Corporation way out of line and just dreaming?
They claim to have rejected a bid for $5.5 million for the materials from the site, and are looking for $15-$18 million.
The company has an interesting concept of buying the property, demo'ing the building and then redeveloping the site. Seems like they could make alot of money doing it. What do you think of their estimates though? Any chance they are going to get that kind of $15 million offer for the salvage?
#4 (permalink) 08-08-2008, 08:33 AM
wrecknall
Member Join Date: Jun 2008
Location: N.W. Arkansas
Posts: 10
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I know some brick can be worth 2$ or more (coffeville pavers) lot of work thoo and maybe get 80% of the bricks intact,cleaned,and palleted. steel cost at around $100+ a ton to process to premium $ and transport.let alone to drop it to the ground. maybe they should try and self perform the work and try to make 15% of their estimate (2.25 mil).
#5 (permalink) 08-14-2008, 08:07 AM
wrecknall
Member Join Date: Jun 2008
Location: N.W. Arkansas
Posts: 10
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from talking with some folks that job has been around for a few years.
#6 (permalink) 08-18-2008, 10:42 AM
Wolf
Senior Member Join Date: Apr 2006
Posts: 338
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and nobody wants it. do you think they seriously rejected a bid of $5.5 million? seems hard to imagine.
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30 BIDS??????????? WOW
I don't know where that number was published - any ideas Fidel? Thanks!
Posted by: machcobra Date: Wednesday, September 03, 2008 10:49:29 AM
In reply to: m_stone_14 who wrote msg# 13077 Post # of 13096
We also know the amount of bids coming in were overwhelming, he had close to 30 a couple weeks ago, Someone is interested. Would you not want your best money possible? I sure would. Time will tell! For me nothing has changed and in fact we know the best bid is better than the 5.5 mil, how high?
Also the natural gas and timber value is what I want to see!
Good luck and glad you made bank, nothing wrong with taking profit! |
