Marcor Adds Asset Recovery Service

Marcor Remediation Inc., Hunt Valley, Md., has introduced its Capital Assets Management LLC subsidiary to market surplus equipment and materials from distressed properties.

The growing brownfields redevelopment market is one of the targets of the new venture. “There have been literally hundreds of millions of dollars spent in litigation to determine who is responsible for cleanup costs at sites where contamination is both real and/or perceived,” says Capital Assets Management vice president Glenn McCracken. “Transactions [have been] delayed and even canceled, hampering economic development.

According to a Marcor news release, Capital Assets Management will provide “risk-free” asset recovery services, “eliminating the uncertainty and associated price gap between real and imagined cleanup costs and enabling parties to agree on a fair and reasonable price for the asset.”

McCracken says Capital Assets Management’s ability to guarantee a market value for assets sets it apart from some competitors. “We ourselves aggressively market the assets to potential buyers, perform all environmental remediation and regulatory interface, and implement best practices for risk management of potential future liability associated with property transfer,” he remarks.