AMSC downsizing to $3.2M facility in Ayer
Grant Welker
AMSC is moving from this Devens office to a smaller facility in Ayer.
AMSC, the company downsizing from its massive Devens space, will land a few miles away in Ayer.
The energy grid planning and engineering company has run into major financial losses over the years and will move from a 355,000-square-foot space at 64 Jackson Road to a building about one-fourth of the size at 114 E. Main St. in Ayer, according to Kelleher & Sadowsky, the Worcester real estate firm that brokered the deal.
AMSC has said it plans to move by April. Its current building, on 35 acres in the Harvard part of the former military base, was last assessed at nearly $19 million.
The deal for the new building in Ayer was $3.15 million, Kelleher & Sadowsky said Friday. Kelleher and Sadowsky said property was sold to 114 East Main St., LLC, but the space is fully leased to AMSC. The nearly 16-acre site includes a 90,000-square-foot building of mostly industrial space with a two-story office.
The company, more formally known as American Superconductor Corp., laid off about 30 employees this spring, an 8-percent reduction.
Losses have piled up for the company, which works on wind power projects and recently landed a contract with the Navy for ship work.
Revenue in the most recent full year was $75 million, a three-fourths drop from a peak of $316 million in 2010. The losses peaked at $186 million in the red in 2011 after the company lost its largest customer, a Chinese wind turbine manufacturer. Last year's losses surpassed $27 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments