SWIFT ENGINEERING WIND TUNNEL SYSTEM TO BE AUCTIONED ON JANUARY 17 & 18

By January 3, 2012Press Releases

SWIFT ENGINEERING
WIND TUNNEL SYSTEM

TO BE AUCTIONED ON JANUARY 17 & 18

Heritage Global Partners to conduct Online Enterprise Bulk Sale Auction of Wind Tunnel System used for aerodynamics testing of motorsport and aerospace vehicles

San Diego, CA – January 4, 2012 .Heritage Global Partners will conduct an online enterprise bulk sale auction of a single lot of a wind tunnel system, currently owned and operated by the award-winning manufacturing and engineering company, Swift Engineering, Inc.  The online auction will be held on Tuesday, January 17 from 10 am PST through Wednesday, January 18 at 2 pm PST at www.hgpauction.com.

This single lot auction will include the main components of Swift Engineering’s wind tunnel system, designed to provide an accurate and repeatable instrument for aerodynamics testing of ground effect vehicles. The auction will also include non-exclusive, limited rights to the associated Swift wind tunnel intellectual property and design data for the purpose of reconstructing (in part or in full) the wind tunnel design in a new location.

“This auction is a one-of-a-kind opportunity for those in the racecar and aerospace industries,” said Kirk Dove, Managing Partner, Heritage Global Partners.

During its 16-year operation, the wind tunnel was used to develop Swift’s Champ, Formula Atlantic and Toyota Celica Funny cars, as well as Swift’s line of Unmanned Aerial Vehicles (UAVs). In addition, many Formula 1, CART, NASCAR and motorcycle racing teams and aerospace and automotive manufacturers, such as Boeing, BMW, Ford, Toyota, as well as Williams and Jaguar Formula One teams have tested vehicles in the tunnel.

San Clemente, California-based Swift Engineering is a vertically integrated, multi-disciplined manufacturing and engineering company specializing in the design, development and manufacturing of lightweight composite structures, components and vehicles.

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, which assists large and small companies with buying and selling of assets.  Heritage Global Partners offers asset brokerage, asset inspection, asset valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.

For more information and auction details, visit www.hgpauction.com.

Contact:

Stephanie Freedman, [email protected], 248.325.8508

Craig Thompson, [email protected], 858.847.0658