2 former GM plants in Ohio, 1 in Michigan sold to development firms

Deal made by trust created by U.S. Bankruptcy Court

7/6/2011

MORAINE, Ohio — Two former General Motors Corp. plant sites in Ohio and one in Michigan have been sold to development firms.

A trust created by a U.S. Bankruptcy Court to clean, redevelop and sell 89 former GM sites in 14 states said Wednesday that it has sold a former assembly plant site in Moraine in southwest Ohio to Downey,Calif.-based Industrial Realty Group (IRG). The Revitalizing Auto Communities Environmental Response Trust also says a former transmission plant site in Parma in northeast Ohio was sold to Ohio-based 54 Chevy LLC. A former stamping plant site in Wyoming, Mich., was sold to West Bloomfield, Mich.-based Lormax Stern.

The trust did not release the amounts of the transactions.

Trust officials say proceeds from the sales help cover ongoing expenses related to unsold former GM properties.