Press Releases

WESTON Purchases Brownfields Property in Sturbridge, MA

WEST CHESTER, PA – December 15, 2004 – Weston Solutions, Inc. (WESTON^®) announced today that it has purchased Sturbridge Industrial Business Park from Corning NetOptix, Inc., a subsidiary of Corning, Inc. (NYSE: GLW). The 56-acre property located in Sturbridge, MA, was home to Corning’s NetOptix subsidiary until 2002. Under the terms of the transaction, WESTON will remediate the property’s existing contamination, assume all long-term environmental liability, and participate in the property redevelopment.

“Corning was not interested in making additional investments to redevelop the property because it extended beyond their core business offering,” stated Patrick G. McCann, WESTON President and Chief Executive Officer. “Because of the environmental liabilities associated with the property, they had to retain capital reserves on their books to account for the ongoing concern. WESTON’s innovative approach allows Corning to better utilize the capital that was needed for property maintenance, environmental liability and associated insurance while, at the same time, assuring the revitalization of the property.”

The WESTON Real Estate Solutions team specializes in environmental liability transfers offering win-win solutions for property owners and WESTON. According to Pete Ceribelli, a WESTON Senior Vice President, “The park is currently home to several other employers and is the town’s only zoned location for general industrial use. We are planning on making an investment in the park that will allow it to be redeveloped as an attractive mixed-use project that will meet the needs of today’s growing businesses. The WESTON real estate solutions team will work in close partnership with the surrounding community to return the area to its best and most productive use.”

The Sturbridge Industrial Business Park is located within an hour of Boston and Hartford and 2 hours from the Connecticut shoreline. With easy access, a highly-skilled local labor workforce, and a limited supply of other industrial sites in the area, the WESTON team is investing for the future.

Corning Incorporated (www.corning.com) is a diversified technology company that combines its materials expertise with strong process and manufacturing capabilities to develop, engineer, and commercialize significant innovative products for the telecommunications, flat panel display, environmental, semiconductor, and life sciences industries.

Weston Solutions, Inc. is a leading employee-owned environmental and redevelopment firm, delivering comprehensive solutions to complex problems for industry and government worldwide. The company’s services encompass environmental remediation, redevelopment, and management and compliance. Its emphasis on restoring resource efficiency to its clients’ operations – including land, air, water, facilities, and staff – ensures that clients derive maximum value from their resources.