$1,800,000.00 sale by Alliance

Investment company buys West Irving Die Casting plant

By Keith Lawrence

 

        An investment company headed by William "Tres" Sterett III president of Owensboro~based Sterett Crane & Rigging,    signed the papers Friday to buy the old West Irving Die Casting property in MidAmerica Airpark for $1.8 million.

Si Deane, owner of Alliance Marketing LLC, said John Howard, one of his real estate agents, handled the sale. The buyer was W4 Investments LLC, of which Sterett is manager.

Sterett did not return calls seeking comments on his plans Monday or Tuesday

The sales price was half of the $35 million assessed value of the 112,756-square-foot plant and its 10 acres, according to the Daviess County Property Valuation Administratorís Web site.

The asking price had been $3.9 million.

Illinois based West Irving went our of business in December, alter losing a large contract from General Motors and $20 million to $25 million in work from a Toyota affiliate. It employed roughly 125 people at the time.

The plant at 2900 Airpark Drive opened in 1997 with 40.000-square-foot plant and added 26,000 square feet within two years. in 1905 it expanded the plant by 52,000 square feet a cost of $2 million.

Keith Lawrence,

klawrence~rmessenger-inqurer.com