Saturday, December 9, 2017

KBS Builders Plant in Waterford, Maine is for Sale

Paris, Maine-based KBS Builders has put its Waterford plant on the market for close to $1 million.

KBS Builders' Waterford, Maine factory

The Dunham Group in Portland is marketing the 61,850 square-foot manufacturing plant at 947 Waterford Road for KBS Builders for $995,000, according to the Dunham Group’s webpage.

A “For Sale” sign has been placed at the site.

Established in 2001, the modular home company was formed as KBS Building Systems, offering a diverse line of housing and commercial and industrial buildings. The main office and factory are in Paris.

In late 2007, KBS Building Systems purchased the former Waterford Homes property in Waterford from a Massachusetts firm. Waterford Homes had defaulted on mortgage and loan payments and closed in 2006.

The Waterford manufacturing plant was reopened early the following year with some 20 new workers, boosting KBS’ production by as much as a third.

It is unclear what effect this sale has on the operation of the KBS Builders or its employees. Efforts to get a comment from KBS officials were unsuccessful Thursday.

In recent years, the plant has traditionally closed in the winter and laid off from 20 to 60 employees, or moved them to the Paris plant. Officials have said in previous years that the lack of commercial building work in Maine and overhead costs in the Waterford facility were the major reasons they shut the plant down each winter.

In April 2014, Minnesota-based manufacturer Aetrium purchased KBS Building Systems from Robert Farnum in a deal reportedly worth $10.5 million. Aetrium is part of the semiconductor industry.

The buyer retained the approximately 200 employees and changed the name to KBS Builders Inc.

The property is currently assessed at $814,200, according to town records. That includes $50,600 for the land and $763,600 for the building. A tax payment was made last month for a total of $12,416.55 paid in property taxes for this year. The taxes are paid through Dec. 31, 2017, the town clerk’s office said.

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