Second party interested in Albin Marine

PORTSMOUTH — Albin Marine's property on West Shore Road is still for sale.

A purchase option for the Albin property, filed at the Portsmouth tax assessor's office, gave Woodmeister Master Builders (in-care-of Conlan Rhode Island Acquisitions, LLC) the ability to finalize the sale by March 19. But the sale had not been completed days after the deadline.

Fred Peters, Albin's owner, said the yacht-manufacturing facility in Portsmouth closed last fall because of declining sales. It was Albin's only manufacturing plant in the United States. Mr. Peters said the company is in dissolution, which is defined in corporation law as "the end of the legal existence of a corporation." Mr. Peters said the company has not filed for bankruptcy, and there are no records to indicate that has happened.

When contacted at Albin's headquarters in Connecticut a few days before the purchase option deadline, Mr. Peters said that the sale to Woodmeister has been postponed.

Mr. Peters indicated that another party may be interested in re-opening the Portsmouth plant.

"Some new people have approached me," Mr. Peters said, declining to say who.

Woodmeister Master Builders constructs luxury houses and has built some at the Carnegie Abbey club. Woodmeister has an office on Carnegie Harbor Drive.

About a year ago, Conlan Rhode Island Acquisitions purchased five acres of land on Baker Road that abuts the Albin property from Mr. Peters.

The 36-acre Albin land is valued at $4,195,700.

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