New ETF Book by Larry Connors - Click here to read more
Beacon Pennsylvania, regardless of the self-serving political actions of the Hempfield Township officials and its representatives, intends to move forward with its plans to demolish and recycle the building without any further interference. However, the company is reconsidering any other plans to develop the property after the demolition due to the constant interference and malicious public comments by Hempfield Township and its agents who are, at the same time, issuing adjudicatory rulings at the hearings related to the project.
Approximately seven months ago, Beacon Pennsylvania acquired the Westmoreland Glass Factory in Grapeville, Pennsylvania, with the intent to demolish and recycle the building and its ruins in an environmentally friendly manner. The property has been in its present state for nearly twenty years with little action taken by Hempfield Township. Unlike other remediation companies, Beacon chose to expend money and numerous man hours to plan for an environmentally controlled salvaging of the brick and other materials on the site. The project is a labor intensive activity that requires adequate planning of which the company has determined it is capable of. If razed properly, rather than a rapid environmentally harmful demolition, the company stands to receive substantial revenue from the recycled Chicago-style bricks and metal at the facility.
In April of this year, Beacon Pennsylvania intended to move forward full force. The company contracted an environmental company to perform the appropriate testing to evaluate the property's environmental condition. Upon the completion of said report, the Hempfield Township Solicitor would not allow communications from the environmental consultant into the Company's presentation of its plans at the public hearing that occurred on May 11, 2009. This was an expense absorbed by the company that was beneficial to the public and all others concerned, but ignored and prohibited by Solicitor Mlakar.
The company believes that Solicitor Mlakar and Hempfield Township officials may have ulterior motives with their aggressive negative pursuit of our company. As such, our enterprise intends to preserve the company's rights for court and will explore possible litigation.
While Hempfield Township has made unwarranted and inappropriate adversarial public comments towards Beacon Pennsylvania and its attempts to remediate the Westmoreland Glass Factory, the company nevertheless believes that it shares the same goal as the Township, which is to demolish the factory. On the other hand, the company can only move forward in a manner that is profitable for its shareholders. Therefore, Beacon Pennsylvania hopes that Hempfield Township will choose to work with the company rather than continuing its unproductive and inappropriate public attacks against the company in the media.
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.
Contact: Investor Relations, Beacon Redevelopment Industrial Corp.
info@beaconredevelopment.com
(302) 724-6919 Telephone
(302) 450-7233 Facsimile
SOURCE Beacon Pennsylvania Holdings, Inc.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.