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PRESTON COUNTY, WVA-West Virginia Power and Transmission Co., a subsidiary of Hagerstown, MD-based Allegheny Energy Inc., has sold 5,600 acres of property to lumber product producer Allegheny Wood Products Inc. for $9.75 million. Allegheny Wood and Allegheny Energy are not related. The land, which is not used for utility purposes, fronts the Cheat River and Big Sandy Creek.

“There was a lot of interest in the property,” Allegheny Energy’s Allen Staggers tells GlobeSt.com. “We sent out 50 bid packages to interested parties.” The land disposition transaction is indicative of the company’s program of selling off property that is inconsistent with its current strategy. Staggers adds that the land was originally acquired by Allegheny Energy in the 1920s. Allegheny Wood’s bid was the highest, but a shared interest in the environment is another reason why the sale was a good deal. “We are confident that Allegheny Wood Products shares our commitment to sound land management practices, while protecting the environment and recognizing the public’s interest in continued access for recreational opportunities,” Allegheny Energy interim president and CEO Jay S. Pifer notes.

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