ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, October 19, 1996 TAG: 9610210096
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE: MAG POFF
Precision Steel Manufacturing Corp. will more than triple its production capability through purchase of a building on Seibel Drive in Statesman Industrial Park.
Michael L. Amos, owner of Precision Steel, said he might hire up to 40 or 50 people when the new plant opens. He said he is in the process of remodeling the property now.
Precision Steel will continue to operate at its existing location at Cloverdale, at least for the present, Amos said.
The company manufactures fabricated and machine parts for area industries, including Norfolk Southern Corp. and Ingersoll-Rand Co., and for new companies coming into the area, such as York International.
Tom Turner and Ed Hall of Hall Associates Inc., who handled the $685,000 transaction, said the 60,000-square foot building was formerly occupied by Grumman Allied Industries Inc., which closed its Roanoke fire engine manufacturing facility in 1994. The seller of the property was United Dominion Realty Trust Inc. of Richmond.
Dominion said it sold the building in connection with its plan to divest its commercial properties. The trust focuses on owning apartment complexes in the Middle Atlantic and Southeast states including properties in the Roanoke area.
LENGTH: Short : 33 linesby CNB