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HGP to Manage Global Online Auction of Artco Group Heavy Plate Manufacturing Assets Beginning November 29

By November 29, 2016November 22nd, 2024No Comments

Artco Group Heavy Plate Manufacturing and Fabrication Assets

November 29, 2016 (7:00 am PT) – November 30, 2016 (10:00 a.m. PT)

Site #1 (Houston, TX)
https://www.hgpauction.com/auctions/86652/artco-group-houston-texas/

Site #2 (Hannibal, OH)
https://www.hgpauction.com/auctions/86661/artco-group-hannibal-ohio/

November 03, 2016 10:04 AM Eastern Daylight Time

HOUSTON & HANNIBAL, Ohio – (BUSINESS WIRE) – Heritage Global Partners (“HGP”), a worldwide leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“HGI”), today announced it will manage an upcoming global online auction featuring assets of Artco Group, a leading provider of custom heavy plate fabrication and processing solution services across North America, South America and Europe. The sale will begin November 29, 2016, on the condition that a well-capitalized going concern buyer or buyers is not identified by Heritage Equity Partners (“HEP”), HGI’s premier M&A advisory and investment banking services division, prior to the anticipated auction date.

The online auction will include high-quality assets from two of the Artco Group’s heavy plate and fabricated component manufacturing facilities, including:

  • Pacific Model Hydraulic Press Brakes
  • Cincinnati Model Hydraulic Press Brakes
  • Bertsch Model Thick Capacity Hydraulic Plate Bending Roll
  • Kumla & Mekaniska Model Thick Capacity Hydraulic Plate Bending Roll
  • Arson Model Sub-Arc Welding Manipulator
  • Chenlong Model T Plate Saw
  • Pangborn Model Swing Rotary Blast
  • Taylor Model 2-Head CNC Flame Cutting System
  • Sub Arc Welding Cells
  • Large quantities of steel
  • General facility support

A public preview will be held on November 28 at both locations beginning at 9:00 am PT. Auction registration and a complete sale catalog are available at www.hgpauction.com. For questions or preview information contact Craig Thompson, HGP VP of Sales.

“This upcoming auction presents bidders with a tremendous opportunity to acquire state-of-the-art heavy plate manufacturing and fabrication equipment, ideal for flame and saw cutting, bending grinding, heat treating and shot blasting, as well as large quantities of high-quality raw steel material,” stated Craig Thompson.

HEP continues to solicit bids to acquire Artco Group’s Houston and Hannibal locations. Additional information is available at www.equitypartnershg.com. For inquiries please contact Fred Cross, HEP Managing Director.

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