By Jill Nagy<\/p>\n
Altek Energy Systems Inc. is seeking bids for construction of an office, warehouse, and manufacturing facility in Queensbury. The new building would accommodate the former Fort Edwards Fire Sprinkler Co. that Altek purchased four years ago.<\/p>\n
The sprinkler company was on the verge of going out of business when Altek purchased it, according to company president Mike O\u2019Connor.<\/p>\n
Altek has nursed it back to life and expects 2018 sales to be triple those of the year it was acquired. Currently, the sprinkler division accounts for about one-quarter of Altek\u2019s revenues, he said.<\/p>\n
The new building will be constructed on a 1.7-acre site in the Carey Industrial Park off Northway Exit 18.<\/p>\n
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O\u2019Connor anticipates using part of the building as warehouse, fabrication, and office space for the sprinkler installation operation. The balance will be rented to other tenants until Altek needs it.<\/p>\n
\u201cWe want to grow the company,\u201d he said. \u201cWe hope to get to $5-6 million in revenues in a few years.\u201d<\/p>\n
Altek was renting space for the sprinkler operation and decided to buy property and put up its own building, he said. The land was purchased in June for $84,000 from the Carey Real Estate Trust. The plans are now out for bid, after which Altek can get their budget and financing together.<\/p>\n
The parent company will remain in Waterford, where it has been located since 1980. They provide plumbing, heating and air conditioning services for commercial and industrial projects.<\/p>\n
O\u2019Connor estimated that they currently have 25 projects underway, including the Adelphi Hotel in Saratoga Springs, the Silver Bay YMCA facility on Lake George, several Hannaford and Price Chopper supermarkets, and a number of other hotels. Most of their work is within a 100-mile radius of their home base but they also work farther afield.<\/p>\n
The company has more than 60 employees, close to one-third of them working for the sprinkler operation,\u00a0 and annual revenue of $12 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Jill Nagy Altek Energy Systems Inc. is seeking bids for construction of an office, warehouse, and manufacturing facility in Queensbury. The new building would accommodate the former Fort Edwards Fire Sprinkler Co. that Altek purchased four years ago. The sprinkler company was on the verge of going out of business when Altek purchased it, […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"\r\n