Solar Power Industries Manufacturing Assets to Be Sold by Heritage Global Partners via Bulk and Piecemeal Auctions September 18-20, 2012

By September 5, 2012Press Releases
Solar Power Industries Manufacturing Assets to Be Sold by Heritage Global Partners via Bulk and Piecemeal Auctions September 18-20, 2012
(Dow Jones and Company, Inc.) Sep 05 02:57 PM EDT

BELLE VERNON, Pa. & SAN DIEGO–(BUSINESS WIRE)–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 its upcoming bulk and piecemeal global auctions of Cell- Line and Solar Panel Assembly Line assets of Solar Power Industries (“SPI”). The sale will run from September 18, 2012 at 7 am PT to 10 am PT on September 20. A preview of the manufacturing facility at 440 Jonathan Willey Road, Belle Vernon, PA 15012 will take place September 18 and potential bulk buyers for the entire facility may also schedule on-site previews by appointment by contacting Craig Thompson (see contact info below).

A virtual data room (“VDR”) is available for bulk lot purchasers, including those seeking to retain the manufacturing facility lease. Photos of the equipment, including a complete solar panel laminator assembly line, are available at http://www.hgpauction.com/?auctionid=241.

The sale will take place in three Lots, beginning 9/18 at 7 am PT:


   -- Lot #1 - Bulk Lot of all SPI assets as well as assumption of the lease to
      continue operating the facilities.

   -- Lot #2 - Bulk Lot of all catalogued SPI assets with intention of removal
      but no assumption of lease.

   -- Lot #3 - If no bulk offer is accepted 9/18, HGP will begin the Global
      Online Piecemeal Auction 9/19.

“We expect our upcoming auction of SPI’s solar manufacturing assets later this month to draw in a significant number of worldwide buyers,” stated Craig Thompson of Heritage Global Partners. “HGP continues to be acknowledged as a leader in pairing sales of surplus solar equipment and related assets with qualified global purchasers.”

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.

To obtain more information, please visit www.hgpauction.com or contact Craig Thompson at cthompson@hgpauction.com.

CONTACT: Heritage Global Partners

Craig Thompson, 858-847-0658

cthompson@hgpauction.com

or

JCIR

Robert Rinderman or Jennifer Neuman, 212-835-8500

CRBN@jcir.com

SOURCE: Heritage Global Partners Copyright Business Wire 2012



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