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Hercules Announces Land Redevelopment Process

Published on 2007-02-28. Author : SpecialChem

WILMINGTON, DE -- Hercules Incorporated (NYSE: HPC), a leading specialty chemical manufacturer and a presence in the Sayreville, New Jersey (site of our Parlin plant) community for more than seventy-five years, announced that it has selected candidates to submit proposals for a brownfield redevelopment project on the surplus property adjacent to the plant site operated by its Aqualon Division.

The Aqualon plant, which will continue normal business operations, produces Natrosol, a cellulose based thickener used in pharmaceuticals, personal care products and coatings and construction products. Eighty-four employees work at the Parlin plant.

In 2006 Hercules sold approximately 30 acres adjacent to Cheesequake Road to the Middlesex Regional Educational Services Commission for the construction of a school for autistic and disabled children. As envisioned, the 70,000 square foot, state-of-the-art school will also contain a therapy swimming pool for the Sayreville special needs population and a second lap pool for use by interested local swim teams.

The surplus property consists of approximately 400 acres, including the land once occupied by Green Tree Chemical Technologies (an independent company that formerly leased land owned by Hercules) and additional property where Hercules had manufacturing operations.

Hercules intends to find the appropriate buyer via a competitive process among the selected candidates. The winning team will be chosen based on the strength of their proposal, and on their vision for the property; a vision that must also be responsive to community input.

The chosen firm will have a proven track record as a master builder of high quality projects that include ample public open space and a balance of land uses that can create substantial, positive fiscal benefits for the Borough.

Source: Hercules Incorporated


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