BACKGROUND :
Torpedo Machining was a subcontract machining shop of medium to larger heavy duty pieces for the aerospace and windturbine business. Their largest machine was capable of turning 7 meter diameter workpieces.
TYPE OF SALE :
– Private Treaty Sales- Online Auction
EQUIPMENT :
Medium and large CNC Machine Tools;CNC Vert. Turning Lathes, CNC Horiz, Boring Mills, CNC Vert. Bedtype Milling Machines andCNC Lathes.
TRANSACTION :
Upon the acquisition of Torpedo Machining, the new owner decided to cease the subcontract work and focus on the other activities of the company; Hilco purchased all Machinery & Equipment with upfront payment.
HIGHLIGHT :
In the auction we sold all smaller machines, but the major machines were sold by private negotiations to buyers from the Netherlands, Spain, Italy, UK and the Middle East.
CONCLUSION :
It took us longer than expected to sell the major machines, but we finished removing all equipment well before the agreed deadline. The vacant bays can be used for other activities.
