Friday, December 13, 2013

Judge Approves Port of Grays Harbor Land Purchase

Superior Court Judge Gordon Godfrey on Dec. 9 approved the sale of the manufacturing assets of former Satsop Business Park tenant NewWood Corp. to the Port of Grays Harbor for $1.3 million.

The NewWood facility at the business park sits on a 19.67-acre site with more than 290,000 square feet of warehouse space containing millions of dollars in manufacturing equipment. The sale includes manufacturing equipment located in a port-owned building, as well as intellectual property used in the process of turning scrap plastics into building material.

New Wood Corp. has been in receivership since November 2012. The sale required that all equipment be free of liens and that personal property taxes owed to Grays Harbor County be paid from the proceeds of the sale.

The Port of Grays Harbor Commission took action in November to authorize the purchase with the intent to work with companies to find a viable operator for the facility.

“We are committed to getting the facility up and running and by purchasing these assets we are in a better position to control our own destiny,” Grays Harbor Executive Director Gary Nelson said.

The Port of Grays Harbor is Washington’s only deep-water port located directly on the Pacific Ocean. The recent addition of the Satsop Business Park increased the port’s properties to more than 1,000 acres of industrial properties and an additional 1,300 acres of sustainably managed forestland.