X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A company that builds solar panels will spend $52 million to renovate an Auburn Hills building to create a new manufacturing plant. Bekaert-ECD Solar Systems has already won approval from the city for a 45 percent tax break to open a new plant. It has also applied for single business tax credits through the Michigan Economic Growth Authority.

The 167,000 s.f. building is currently owned by Johnson Controls Inc. Liberty Property Trust plans to buy the building in September and lease it to Bekaert-ECD.Officials at Liberty said they could not discuss the pending transaction.

Subhendu Guha, president of Bekaert-ECD and United Solar, said Auburn Hills was advantageous because of the tax breaks.”We had certain requirements in terms of space, and the city was responsive to our space and financial needs,” says Guha. “We expect that everything will be final by the end of September.”

“If everything goes as planned, we will move into the building, and start three months of renovations.” The plant is expected to be up and running in two years.

Bekaert-ECD is a joint venture between Belgium-based N.V. Bekaert S.A. and United Solar Systems Corp., which is a subsidiary of Energy Conversion Devices of Troy, MI. Both companies manufacture alternative energy products, including solar cells.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.