Orbital sells first-class facilities

Perth, Western Australia-based Orbital Corp. Ltd. is selling its extensive office, testing and warehouse facilities in the Balcatta industrial area. Orbital develops and commercializes alternative fuel systems. Listing agent commercial property firm Burgess Rawson, said as an incentive to would-be buyers, Orbital was prepared to stay on and enter into a long-term leaseback arrangement, which would give the new owners an instant income flow of about A$745,000 (US$695,690) a year. Orbital wants to use the value of the Balcatta property to expand in Australian and overseas alternative fuel markets. We feel its better for us to invest that capital in cash-generating alternative fuel opportunities and complementary business acquisitions than have it sitting in property, said Keith Halliwell, Orbitals chief financial officer. (September 7, 2010)