New ETF Book by Larry Connors - Click here to read more
Beacon received formal notice from its bid winning contractor, Renaissance Renovations & Development LLC that they have chosen Ameri-Source Services LLC of Bethel Park, Pennsylvania, to be its primary demolition subcontractor. RRD, a general contracting management firm, was awarded the demolition contract by BCDN for its Westmoreland Glass Factory project.
RRD has advised BCND that they have selected and entered into a formal letter of understanding with Ameri-Source Services, LLC to carryout the overall demolition and recovery of salvageable materials as per the Company's stipulated requirements.
Beacon, who has the ultimate approval rights, accepted the proposal after verifying Ameri-Source's experience and expertise to fulfill such an assignment. Beacon also took into consideration the appointment of Edward Scherrer as the project supervisor for the demolition. Mr. Scherrer has worked with Ameri-Source over the last three years regarding demolition and the salvaging of materials. Mr. Scherrer, previously employed by the Pike Company and Sevenson Environmental, maintains over twenty years experience in construction, demolition, and salvage. He has also worked on demolition projects such as the Bethlehem Steel Plant, Globe Metallurgical, Niagara Transformer (Superfund project), SGL Graphite Plant, and Carbide Graphite Plant.
The terms of the agreement between RRD and Ameri Source are private and do not alter RRDs obligation to Beacon. Per contract, Beacon will receive an additional $5,350,000.00 for the salvage rights to the factory, which is in addition to the $1,000,000.00 deposit.
Over the last two weeks, Beacon management has diligently worked to remove and clean up weeds, brush, and overgrown trees on the property. Various dumped junk such as automobiles were taken off the property and properly disposed of. Electric installation to the property is on track and should be complete before the end of August.
The Company will provide a progress report to the Hempfield Township Supervisors, and it plans to notify the local residents of Grapeville with its future intentions while addressing any concerns they may have.
Finally, many shareholders have inquired regarding the previously announced buyout. No material changes have occurred to this point that can be reported as the negotiations are ongoing with the anticipation of a mutually agreeable deal. The Company will announce all material information when appropriate.
This release does not constitute an offer of securities for sale. This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve certain risks and uncertainties that could cause actual results to differ. All statements in this press release are based on information available to the company as of the date hereof.
SOURCE: Public Relations
Beacon Redevelopment Industrial Corporation
302-724-6919
info@beaconredevelopment.com
SOURCE Beacon Redevelopment Industrial Corporation
http://www.beaconredevelopment.com
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.