Closed Bristol plant draws $3.7 million bid Final Edition

BRISTOL, Tenn. -- Raytheon Co.'s former missile plant in Bristol, once a mainstay of the area's economy, went on the auction block Wednesday as a relic of the Cold War. The 660,000-square-foot plant drew a bid of $3.7 million from a group of investors who say they have a prospect for a dis...

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Bibliographic Details
Published inThe Knoxville news-sentinel
Main Author Leslie Lloyd Brown, Associated Press
Format Newspaper Article
LanguageEnglish
Published Knoxville, Tenn Gannett Media Corp 27.08.1998
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Summary:BRISTOL, Tenn. -- Raytheon Co.'s former missile plant in Bristol, once a mainstay of the area's economy, went on the auction block Wednesday as a relic of the Cold War. The 660,000-square-foot plant drew a bid of $3.7 million from a group of investors who say they have a prospect for a distribution or manufacturing operation. By the time the plant closed it was no surprise, as Raytheon had been scaling back its operation for several years. As a result the closing was not as big an economic jolt as it could have been, according to Steb Hipple of the Bureau of Business and Economic Research at East Tennessee State University.