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Published:
Beacon Redevelopment Industrial Corporation Rejects an Unsolicited 5.5 Million Dollar Salvage Offer From a Salvage ContractorNORTH HUNTINGDON, Pa., July 24 /PRNewswire-FirstCall/ -- Beacon
Redevelopment Industrial Corporation (OTC: BCND) today announced it has
rejected a The company believes that the salvageable value of the property to be in
the range of "I have the fullest desire to demolish and redevelop the Westmoreland
site; however I will not compromise the value of the property or its
redevelopment value for a quick gain. The dismantling and salvage sale will be
done in the best interest of the shareholders and the company," said Beacon estimates that there is between 9 and 10 million recyclableChicago
bricks that have a wholesale value of About The Property: A group of investors built the factory in 1889, and the first glass from the factory was sold in 1890. Historical documents indicate that the factory was purchased because of the natural gas on the land. To this day, natural gas wells exist on the property. It also has rail access that can be utilized once a new complex is built. Beacon PA recognizes the historical impact of the former Westmoreland
Glass Company factory and is investigating the feasibility of creating a
commemorative brick to collectors with a notarized certificate of
authenticity. The Westmoreland Glass Company factory is a famous facility and
its glass is the subject of two separate collector organizations. The
Westmoreland Glass Society (www.westmorelandglassclubs.org) and the National
Westmoreland Glass Collectors Club (www.westmorelandglassclub.org) members
monitor and collect About Beacon Redevelopment Industrial Corporation Beacon specializes in acquiring undervalued deteriorating properties that offer the potential for above average return on investment, the properties must offer recyclable/salvageable materials along with the potential for redevelopment; 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 SOURCE Beacon Redevelopment Industrial Corporation Tags: Real Estate, pennsylvania _ _    Is your favorite bookmark site missing? Ask for it. |
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