Burlington Industries and REstructure Group/Fluor Daniel Thursday
announced a proposed multi-million dollar project to convert the former
Mooresville Mills textile plant into a multi-use center for NASCAR
racing teams and related businesses.
Strategically located within a 25-mile radius of some 50 current NASCAR
team locations, Mooresville Racing Center is expected to serve as the
working headquarters for many of these teams, as well as for official
NASCAR organizations and key suppliers, according to Zenaido Quintana of
Fluor Daniel.
"Since racing is now among the top spectator sports in the country, and
so many racing teams are located in this region, Mooresville has been
rightly dubbed, 'Race City USA,'" said Quintana. "With the continuing
influx of driving teams to the area, the center is expected to create
new marketing opportunities in the Mooresville area."
Harold Vaden, real estate manager for Burlington Industries, said, "The
Mooresville Mills facility has been part of the Mooresville community
for more than 100 years. We are very pleased that we have found a way to
give it new life and support Mooresville's growing role as a center for
one of North Carolina's favorite sports."
REstructure Group/Fluor Daniel offers clients a process to evaluate and
enhance the value of under-utilized, distressed or surplus commercial
and industrial properties. The alliance provides teams of architects,
engineers, and real estate professionals who can develop re-use options,
or ongoing asset management programs, that promote community
redevelopment.
Development of the Mooresville Mills property will be a joint venture of
REstructure Group/Fluor Daniel and Burlington Industries. Final
agreement on the proposed project is subject to completion of definitive
documentation. Construction is expected to begin this summer.
Burlington Industries is one of the world's largest and most diversified
manufacturers of soft goods for apparel and interior furnishings.
With 1999 revenues of $12.4 billion, Fluor Corp.(NYSE:FLR) provides
services on a global basis in the fields of engineering, procurement,
construction, maintenance and operations, consulting and coal production.
Fluor Corp. releases are available on Fluor's Corporate News on the Net
site at http://www.businesswire.com/cnn/flr.htm.
Flour Corp.Keith Karpe, 949/349-7661orLori Serrato, 949/349-7420