Far West Technologies files for bankruptcy

A company that last year announced plans for a manufacturing plant employing as many as 1,500 people at Lovelock has filed for protection under Chapter 7 of the bankruptcy code.

Far West Technologies filed May 30 for bankruptcy protection at the U.S. Bankruptcy Court in Reno.

The company's petition lists assets of $219,136 and gross income for the 12 months prior to filing of $93,468. Liabilities are listed at $274,600.

Far West's biggest creditor is Reno-based Buildings and Dwellings Inc., with a claim of $236,000. Buildings and Dwellings has filed a lawsuit against Far West. Another creditor, GX industries of Carson City, claims $26,000.

Last year, the company announced with fanfare its plan to build a plant in Pershing County 90 miles east of Reno to manufacture composite panels for floor, roof and wall construction.

It said the plant would employ 500 at the start this in a town of 6,400 adults and children and ultimately might hire as many as 1,500 people.

The Pershing County government arranged to give the company 50 acres in a Lovelock industrial park, land that was valued at $800,000.

But by late last year, the county commission claimed the company failed to meet financing criteria and withdrew its offer of free land.

Bob Patterson, the president of Far West Technologies, complained last year that the county government interfered with his company's plans. County officials said they doubted whether Patterson was serious.

Far West returned the industrial land to Pershing County, and the county has no further interest in Far West Technologies, says County Commissioner Roger Mancebo, "We got out clean," Mancebo said.

Far West Technologies is represented in its bankruptcy filing by J. Craig Demetras of Demetras O'Neill & Otto.

Patterson declined to comment for publication on his company's filing.


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