For Immediate Release News Announcement
HERITAGE GLOBAL PARTNERS TO AUCTION LTQ ENGINEERING’S
STATE-OF-THE-ART ENGINE MRO FACILITY
AND EQUIPMENT VIA ONLINE AUCTION OCTOBER 2-3
San Diego, CA – September 05, 2012 – Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a wholly owned subsidiary of Counsel RB Capital (OTCQB: CRBN), today announced that it will be conducting an upcoming auction of the state-of-the-art Maintenance and Repair Overhaul (MRO) facility, engine test cell equipment, and all other assets of LTQ Engineering, a former Australian aircraft engine overhaul provider and joint venture of Lufthansa Technik and Qantas Airways Limited. The sales will be made in various bulk and piecemeal configurations.
The auctions will be conducted online at http://www.hgpauction.com/?auctionid=261 on October 2, 2012, beginning at 10 am PT and ending on October 3, 2012 at 5 pm PT. Previews are available by appointment only by contacting Heritage Global VP David Weiss (see contact info below).
The sale includes all the assets of this Engine MRO Facility, which completed Overhauls on CFM56 and CF6-80 engine types. Key assets include complete sets of CFM56-3 /-7 & CF6-80C2/E1 Engine tooling, a 2010 DANOBAT VGT 1500 High Speed Grinder, a 2006 LK Evolution CMM, and a state-of-the-art Test Cell with ASE2000 wholly integrated control. In addition, the sale also contains LTQ’s fully equipped machine shop that includes High Speed Grinders, Metalworking Machinery, Vertical and Horizontal Schenk Balancers, Boroscopes, Tooling kits, Electroplating line, and much more.
“LTQ’s modern MRO facility contains over 270,000 Sq. ft. with late model Engine repair and testing equipment, making it a compelling value that will no doubt appeal to online bidders worldwide through HGP’s Aviation and Metal working database, in conjunction with our partner Grays Online,” stated Vice President David Weiss of Heritage Global Partners.
Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the country’s leading asset advisory and auction services firms, assisting large and small companies with buying and selling assets. A Counsel RB Capital company (OTCQB: CRBN), HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.
David Weiss, [email protected], 561/210-5921
Robert Rinderman or Jennifer Neuman, JCIR, [email protected]com, 212/835-8500