Idled Assets Group Formed to Aid in Crisis Management for Plant Closings
Combining public relations expertise and real estate expertise Idled Asset Group's husband and wife team aims to assist all stakeholders involved in plant closing decisions.
Boca Raton, FL (PRWEB) July 26, 2004 -- Edmond L. Prins Chairman and CEO along with wife Ellen Austin Prins Chief Operating Officer today announced the formation of Idled Assets Group, Inc. in Boca Raton, FL. The company is a continuation of a 25-year history of creating bottom line results for Fortune 1000 companies and communities from plant closings.
Together, they will work closely with the senior management of Fortune 1000 companies, communities, states and the federal government to create and execute the best financial solutions for their idled land, plant, equipment and labor. The Idled Assets Group (IAG), a woman-owned business, provides the day-to-day management of the often-difficult situations when corporations and government announce plans to close a plant or federal installation. Ellen Prins COO said," Ed and I are excited about the opportunity to generate economic return for all the stakeholders in a plant closing situation."
The Idled Assets Group structures and packages the assets to reflect the local market forces generating a quicker sale at a higher financial return for the owner while reducing the contingent liabilities and costs of holding that property. The added benefits are the return of the assets to economically contributing members of the community, thereby mitigating the short-term negative publicity generated by the closure. Said CEO Ed Prins, "the best way to think of us is as crisis managers and outplacement counselors for land, plant and equipment."
The company brings to bear expertise in planning, market research financial analysis and marketing. The group will also have strategic alliances with equipment dealers, pollution liability insurance carriers, demolition companies, investors and construction experts.
Prins began his career as an expert in corporate real estate restructuring at Lehman Brothers Kuhn Loeb in 1980 and continued his practice at Security Pacific Bank (now Bank of America) and Price Waterhouse. Austin-Prins was the national marketing director of Homart Development Company and also has real estate syndication experience.
Contact Information:
Edmond Prins
561-445-9476
eprins@idledassets.com
IDLED ASSETS GROUP, INC.
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