Last updated on April 19, 2014 at 9:20 EDT

NEAH Energy Evaluating the Purchase of up to 500,000 square feet of Idled Manufacturing and Assembly Plants in Southeastern North Carolina

September 11, 2012

NEW YORK, Sept. 11, 2012 /PRNewswire/ — Newco Energy Acquisition Holdings LLC (“NEAH Energy”), an energy-related asset and services acquisition firm, is evaluating the purchase of up to 500,000 square feet of idled manufacturing and assembly plants in Southeastern North Carolina.

The Southeastern region of North Carolina is suffering from deep economic recession and lack of manufacturing and assembly jobs. Light industry, garment, furniture and other major industries have gone offshore, or relocated to other tax advantaged States.

NEAH believes Southeastern North Carolina can become a viable domestic and international commerce and trade hub again, much like in past years with its strategic Mid-Atlantic location, substantial rail links, and access to deep water ports.

NEAH is seeking to establish a flagship energy manufacturing and assembly base, which would house several potential energy portfolio companies, and other North Carolina based energy and industrial companies through a private and public funding consortium.

NEAH decision to consider acquiring and rehabilitating existing idled industrial sites in Southeastern North Carolina relies heavily upon Bi-Partisan political support, establishment of free trade zones and other tax incentives and capital expenditure funding from the State of North Carolina, rural development agencies, and the North Carolina tobacco trust fund, all of which are designed to create meaningful jobs and promote sustainable economic development in rural counties and brownfield industrial sites.

NEAH notes that there are significant unallocated funds in the tobacco trust fund and other state agencies which are designed specifically to promote jobs creation, sustainable economic development and to rehabilitate idled brownfield industrial and agricultural sites in North Carolina. Jobs Creation and economic growth must transcend politics in an election year in North Carolina.

NEAH believes multiple brownfield industrial sites can be revitalized, upgraded and become a light manufacturing and assembly work area for the energy sector. Sustainable job creation is the top priority in North Carolina.

About NEAH Energy:

NEAH Energy is an acquisition company formed to acquire energy and energy-related assets and companies. NEAH focuses its interest in deep value, asset-backed investments in distressed, non-core, and niche-based energy assets, with an emphasis on solid cash flows, capital preservation and prudent risk management.


Source: PR Newswire