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USA - GE Seeks Buyer for Lufkin Foundry
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A Lufkin, Texas, city official said he was hopeful General Electric can find a buyer for its Lufkin Industries foundry. Thad Chambers, director of economic development, told board members of the Lufkin Economic Development Corp. that GE was attempting to sell the metalcasting facility that was closed earlier this year.
“We continued to meet with GE representatives throughout the entire process,” Chambers said. “They have said they expect to maintain a substantial presence in Angelina County. They haven’t defined that yet. They’re still working on the process of how that will look.”
Chambers said GE is no longer considering “Project Phoenix,” announced late last year by company officials as a $60-million, four-phase plan to renovate the metalcasting facility. The company planned to demolish 30,000 sq. ft. of its 515,000-square-foot facility and add about 72,000 sq. ft. of new building while refurbishing remaining facilities.
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