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. Visit www.beaconredevelopment.com for all the latest information and updates.
BCND News:
July 10 - Beacon Redevelopment Industrial Corporation Announces First Acquisition and Forms Subsidiary
Beacon Redevelopment Industrial Corporation (OTC: BCND) announced its first acquisition, while forming a wholly owned subsidiary Beacon Pennsylvania Holdings, Inc.
Beacon Pennsylvania Holdings, Inc. a wholly owned subsidiary of Beacon Redevelopment Industrial Corporation has been formed to manage the company's Pennsylvania Investments and Properties.
"Beacon PA" has agreed to acquire the former Westmoreland Glass Company Factory in Grapeville, PA.
Beacon estimates that there is between 9 and 10 million recyclable Chicago bricks that have a wholesale value of 0.50 to 0.75 cents a piece, in addition Beacon also estimates that there is at least 40,000 tons of recyclable steel with a value (at today's scrap steel prices of $250.00 to $300.00 per ton).
The company will also move to redevelop the property as an industrial park with rail access, for small to mid-sized company's.
"We are very pleased to have been able to acquire this historic property, the potential return on our investment exceeds all of our prior estimates, including salvageable materials to redevelopment and other revenue producing aspects of the property," said Adam Marek, president & COO.
Mr. Marek also stated, "This is but one of many such projects that the company has under negotiations/contract and we are looking forward to a very bright and prosperous future."
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 Historical documents indicate that the factory was purchased because of the natural gas on the land.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 Westmoreland Glass. Therefore, we believe that we should offer such a program to collectors.
$0.0002 (07/13/08)
