CHICAGO Jupiter Aluminum Corp. has purchased and plans to restart a 48-inch coil coating line at the former RG Steel LLCs Wheeling Corrugating Co. facility in Beech Bottom, W.Va.
The Hammond, Ind.-based rolled products producer will use the coating line to supply both new and existing customers, Newark, N.J.-based National Machinery Exchange Inc. and Los Angeles-based Hackman Capital Partners LLC said in a joint release June 24.
The deal will also see the former Wheeling Corrugating facility become a multi-use manufacturing site with Jupiter Aluminum and other tenants leasing space, the two companies said.
Jupiter Aluminum was unable to provide further comment by press time. Financial terms of the transaction were not disclosed.
When we enter into these projects, we hope a situation like this will occur, Brian Epstein, vice president of National Machinery., said in a statement. Anytime a former manufacturing facility can restart is a good thing.
Roughly half of the 500,000-square-foot former Wheeling Corrugating site has been leased and a second coil coating line is available for sale to prospective tenants, Epstein added.
Hackman Capital, a buyer and seller of industrial real estate and equipment, bought the Beech Bottome property for redevelopment in conjunction with local partners for $4.4 million (amm.com, Jan. 9).
National Machinery handles secondhand metalworking equipment and machinery.