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Technology Stocks : Intermagnetics (IMG)

IMG 0.174

-4.2%

Nov 10 3:58 PM EST

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To: rustyjack who wrote (2730)	6/4/1998 1:21:00 AM
From: Gerald Thomas	Read Replies (1) of 3448

This was a month ago... $3.5 million renovation begins with small fire 236 Words 1699 Characters 05/01/98 Times Union (Albany, NY) THREE STAR B7 (Copyright 1998) Schenectady Workers dismantling a billboard from the top of the vacant former Maqua Printing Co. on Duane Avenue Thursday afternoon accidently touched off a roof fire that took city firefighters about an hour to extinguish. The fortress-type building is in the early stages of a $3.5 million redevelopment. It will serve as a new plant to be operated * by the Intermagnetics General Corp. of Latham. "We received numerous calls from passing vehicles on the downtown arterial reporting heavy black smoke coming from the building," Fire Capt. Robert Stanley said regarding the 2:30 p.m. alarm. He said there were no injuries. Stanley said workers from the Whiteco Sign Co. were using acetelyne torches to remove the sign when falling slag ignited the roof. Vladimir "Wally" Spigel, the project developer, said the fire damage was limited, but smoke had spread throughout the building. He said a roofing contractor had already planned to begin installation of an entire new roof for the four-story building in aweek to 10 days. "We were lucky because the fire started while workers were there and somewhat contained things before firefighters arrived," Spigel said. "If the building was unattended at the time the damage could have been heavy." He said workers during the past several weeks have removed 30 dumpsters of old piping and other fixtures in preparation for the building renovation. He said the renovation will be completed by October.

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