Hiring underway as Allegheny Wood Products sells assets

PETERSBURG, WV (WOWK) — Hardwood producer Allegheny Wood Products (AWP) in Petersburg is selling off some of its assets, which are expected to be used to restart production in West Virginia.

AWP announced that it would be closing back in February due to market conditions and other factors, which has affected around 850 employees. The business was then placed under Court Appointed Receivership on March 6, resulting in the current selling of company assets.

The assets are being sold in two sets. Two dry kilns from Hazelton and Petersburg are going out to Goodfellow in Canada for $6.25 million, and two sawmills from Kingwood and Riverton are going to Charles City in Virginia for $9.25 million.

The receiver, Chris Deweese, told 13 News that the buyers will use the sold assets to restart production in West Virginia, with hiring already underway.

However, auctions will be held for each set if there are any upset bids before the cut off point.

Upset bids for the dry kilns will be accepted until July 29 at 9 a.m. The following auction would be held at 4 p.m. the same day. As for the sawmills, bids will be accepted until August 5 at 1 p.m. The related auction would then be held on August 8 at 1 p.m.

Other AWP assets that are currently up for sale include:

• Beckley Sawmill and Dry Kiln Facilities
• Princeton Sawmill and Dry Kiln Facilities
• Jacksonburg Sawmill
• Cowen Sawmill
• Marble PA Dry Kiln Facilities
• Other vehicles, excess equipment, oil and gas mineral rights, excess property and land as well as stumpage.

Those interested in purchasing AWP assets should email Deweese at CDeweese@suttlecpas.com.

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