New Advisory Division Created to Maximize Asset Value During Industrial Plant Retirement
ST. LOUIS, July 24, 2019 /PRNewswire/ -- Industrial Asset Recovery Group, LLC (IARG), a corporate affiliate of Commercial Development Company, Inc. (CDC), today announced the creation of a new division to provide professional advisory services for industrial plant retirement. This division will leverage the extensive experience of IARG's and CDC's executive teams to advise industrial corporations on best practices for industrial plant retirement – specifically how to maximize asset value and reduce decommissioning costs.
The new division will utilize IARG's trademarked Total Plant Deactivation (TPD) program – a plant closure system designed to unlock maximum value during the plant closure process. This program was created by the executive management team of IARG and has been used by multiple firms during plant decommissioning for the past 30 years.
The principals of IARG have utilized the TPD system to complete over 1,200 plant closure projects and perform over 500 certified industrial appraisals, including CDC's 4.8 million sq/ft retired General Motors Janesville Assembly Plant, which IARG liquidated in 2018 – one of 11 former GM plants to recover value through the TPD program.
The new division will be led by Stuart Millner, Managing Director of IARG, who has over 35 years of experience in the field of plant closures.
"I am very pleased to announce this new venture for IARG. We created this division to help companies navigate the complexities of plant closure, which is typically a function outside their core expertise. We have found that costs associated with plant closure often exceed a company's expectations and budget – our goal is to bring cost transparency and new options to companies facing these challenges," said Stuart Millner, Managing Director of IARG.
For more information on this program, please visit www.industrial-recovery.com or contact Mr. Millner direct at 314-835-2812 or [email protected].
Industrial Asset Recovery Group LLC
Industrial Asset Recovery Group LLC is a corporate affiliate of Commercial Development Company, Inc. IARG was created to manage the liquidation process of surplus equipment, machinery, and other industrial assets generated by CDC's many ongoing brownfield redevelopment projects. For more information, visit: www.industrial-recovery.com
About Commercial Development Company, Inc.
Commercial Development Company, Inc. (CDC) and affiliates are a privately-held, diversified real estate acquisition and development firm whose principal competency lies within the acquisition, repositioning, and redevelopment of underutilized, distressed or environmentally-challenged properties. CDC's sustainable redevelopment projects have played a transformative role in bringing hundreds of North American sites out of blight and back to productive reuse. For more information, visit www.cdcco.com.
Press Contact:
Stuart Millner
[email protected]
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SOURCE Industrial Asset Recovery Group LLC
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