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Friday, 07/18/2008 9:49:08 AM

Friday, July 18, 2008 9:49:08 AM

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http://www.tradingmarkets.com/.site/news/Stock%20News/1767142/

Historic glass factory in Grapveille bought
Friday, July 18, 2008; Posted: 04:08 AM
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Jul 18, 2008 (Tribune-Review - McClatchy-Tribune Information Services via COMTEX) -- BCND | Quote | Chart | News | PowerRating -- The former Westmoreland Glass Co. complex, an arson-plagued eyesore in the Hempfield village of Grapeville, has been sold to a new holding company that intends to salvage the remaining steel and bricks to help pay for a potential redevelopment project, according to the company's president.

The sale of the historic milk glass factory, which closed in 1984, was announced last week on the Web site for North Huntingdon-based Beacon Redevelopment Industrial Corp., but the deed hasn't been filed yet with Westmoreland County. Beacon's subsidiary, Beacon Pennsylvania Holdings, was formed to manage the property.

Hempfield officials say they are optimistic a sale could lead to the long-desired demolition of the building, which has been a frequent target of arsonists and a hang-out for youths and vagrants.

Adam Marek, Beacon's president and chief operating officer, said Thursday the site could be converted into an industrial park, medical facility or alternative energy plant after the building's demolition.

"We're going to be working closely with (township officials)," he said. "I'm sure they'd like to see something productive for the area."

He estimates the structure has between 9 million and 10 million recyclable Chicago bricks with a wholesale value of 50 to 75 cents, and at least 40,000 tons of recyclable steel with a value of $250 to $300 per ton.

The salvaging process likely will last eight months to a year, Marek said.

"It's a huge factory, and it's definitely going to take time to bring it down," he said.

At one point in the late 1990s, Hempfield supervisors said they had budgeted some money to cover the building's demolition.

However, township Manager Rob Ritson said legal wrangling has prevented the township from doing much with the site, and Hempfield's annual set-asides for demolition projects could not cover the cost for the factory.

The Grapeville Volunteer Fire Department has responded to numerous fire calls at the building in the past two decades, including a February 2006 fire in which nearly 30 fire companies fought to control flames shooting an estimated 100 feet in the air.

"It's just time it disappears," Grapeville Chief Dan Nescot said.

Township Supervisor Doug Weimer said he's pleased to learn about an effort to remove a safety hazard and possibly allow the land to be redeveloped.

"With what I know now, it certainly looks like a positive project, and something that will make that area of the township more attractive," he said.

Westmoreland Warehouse & Industrial Building Inc. bought the 138,000-square-foot complex for $75,000 in 1986. Company officers could not be reached for comment yesterday.

Marek did not disclose the purchase price.

To see more of the Tribune-Review or to subscribe to the newspaper, go to http://www.pittsburghlive.com/x/tribunereview/. Copyright (c) 2008, Tribune-Review, Greensburg, Pa. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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