ADF Group Inc. (DRX) said it reached an agreement with the Port Authority of New York & New Jersey to end a dispute over the antenna that is to top 1 World Trade Center, allowing delivery and erection of the structure to proceed.
The Port Authority sued the Terrebonne, Quebec-based company’s ADF Steel Corp. unit in New York state Supreme Court on Oct. 13 for holding “hostage” the antenna that is to top the skyscraper, which is under construction at the site of the twin towers destroyed during the Sept. 11 terror attacks.
ADF and the Port Authority said in separate statements today that the two sides have reached an agreement to resolve their dispute that includes a resolution of the lawsuit. Terms of the pact are confidential, Port Authority spokesman Steve Coleman said in an e-mail.
The erection of structural steel at the skyscraper is done and the only remaining steel needed is for the 400-foot antenna, the Port Authority said in the complaint. The antenna, designed in collaboration with artist Kenneth Snelson, is part of the tower’s “crown” and will allow the building to reach a symbolic height of 1,776 feet, according to a website for the project.
The skyscraper will be the Western Hemisphere’s tallest building and serve as a “symbol of recovery” after the original towers collapsed in the Sept. 11 terrorist attacks, according to the complaint.
The Port Authority in its lawsuit said that ADF was refusing to ship materials for the $10 million antenna unless it received $6 million owed under a separate contract dispute, and had asked the court to order requiring the company to deliver the steel.
Delivery of the steel for the antenna could come as soon as next month and the skyscraper is scheduled for completion before the end of March 2014, Coleman said in an e-mail.
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