Air Products and Chemicals buys land for manufacturing plant

BUYER: Air Products and Chemicals Inc., Allentown, Pa.

SELLER: HRK Holdings LLC, a debtor in possession in bankruptcy

PROPERTY: 12828 and 13300 N. U.S. 41, 13500 Scale Ave., 12915, 12911 and 1905 Element Ave., 13370, 13365, 13330, 13320, 13310 Dome Circle, 2905, 2505 and 2525 Inland Transport St., 2815 and 2600 Inland Terminal St. and 2715 and 2705 Container St., Palmetto

PRICE: $6.03 million

PREVIOUS PRICE: $4.38 million, August 2006

LAW FIRM ON DEED: James W. Martin PA, St. Petersburg

PLANS, DESCRIPTION: Air Products and Chemicals Inc. purchased 32 acres on U.S. 41 North adjacent to Port Manatee for $6.03 million.

The price equated to $188,422 per acre.

William Harley III, personal representative for the bankruptcy of the former owner, HRK Holdings LLC, signed off on the sale.

The Lehigh Valley, Pa.-based public company purchased the land to develop a new manufacturing facility for natural gas heat exchangers. Construction on the roughly 300,000-square-foot facility is expected to start soon and is projected to employ 250 people in the next four years. Operations are expected to start by 2014.

The company says the location will allow it to ship large equipment. It will also allow Air Products to manufacture even larger LNG heat exchangers that are being demanded by the market.

Air Products provides atmospheric, process and specialty gases, performance materials, equipment and technology. The company has more than 20,000 employees in more than 50 countries.