General Industry News

Weston Buys 56-Acre Brownfields Plot

Weston Solutions Inc., of West Chester, Pa., has purchased the Sturbridge [Mass.] Industrial Business Park from Corning Netoptix Inc. for the purpose of cleaning and redeveloping the 56-acre property. "Corning was not interested in making additional investments to redevelop the property because it extended beyond their core business offering," said Patrick McCann, Weston president and CEO. "Because of the environmental liabilities associated with the property, they had to retain capital reserves on their books to account for the ongoing concern. Weston's innovative approach allows Corning to better utilize the capital that was needed for property maintenance, environmental liability and associated insurance, while at the same time assuring the revitalization of the property."

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