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Issue #584 | Breakbulk Quarterly

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Breakbulk Quarterly

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2014 Media Kit
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Port of Vancouver Commission approves sale to Farwest Steel

By: | at 08:00 PM | Channel(s): Ports & Terminals  

The Port of Vancouver USA announced the sale of 20 acres of industrial land to Farwest Steel Corporation, one of the leading distributors, processors and fabricators of specialty steel products in the Northwest.  The sale was approved unanimously by the port’s board of commissioner s at their regularly scheduled August 10 meeting. The $5,082,500 sale is expected to bring up to 225 industrial jobs to Clark County.

“Approval of this sale is all about bringing jobs to Clark County,” said Jerry Oliver, president of the port’s board of commissioners. “Selling property is not something the port does often or without careful consideration, but we feel this is in the best interests of both the port and the community.”

Public comment and designation of the property as surplus during their June 8 meeting preceded the commissioners’ decision to sell.  Also part of the process was the development of agreements between the port and Farwest that set strict criteria for the sale, including a minimum job requirement and a repurchase clause if the company decides to sell the land or ceases operations. These covenants will ensure the commission’s criteria for the sale is protected.

Farwest operates several facilities in Oregon, Washington, California, Idaho and Utah and plans to consolidate some of their distribution, processing and fabrication operations in Vancouver. Approximately 100 jobs will be relocated to the port, with plans to add an additional 125. Farwest will generate sought-after family wage jobs, paying an average annual wages of approximately $40,000, with benefits.

Farwest plans to construct a $25-$30 million facility that will contain its distribution, processing, fabricating and office support. The Port of Vancouver location will allow the company to grow their business and better serve their customers.

“We have been looking long and hard throughout the region for a location that best suits our ability to grow and efficiently deliver quality products to our customers, “ said Patrick Eagen, president and chief executive officer of Farwest Steel Corporation. “The port had industrial land ready to build, with the right river, road and rail connections – this is the best choice for us.”