Customer Problem / Need
The customer selected one of their facilities to be repurposed for a product line with higher growth than the current facility use.
The plant needed to be cleared of equipment, raw materials, and vehicles.
The facility was located in a remote location with under developed transportation infrastructure.
There were no local transportation, removal and rigging companies easily accessible.
Auction (3 phases) In order to maximize the sale value and foster engagement from local and global buyers, Chain AMS listed and sold assets in two currencies (Pesos & USD).
The process required heavy coordination with the customer's Finance, Controllership & Tax functions to support the sales process.
The sales grossed $2.8MM for the customer.
The process was completed in 4 months, and in advance of the required timeline.
The auction process was in line with customer expectations.
Background and Timeline
Remotely located plant in Comodoro Rivadavia, Argentina, ~1,100 miles south of Buenos Aires.
The manufacturing plant originally manufactured equipment servicing the oil and gas industry.
Total Plant Area: 125k sq ft.
Expense Budget: 171k
Set-up: April 2018 through June 2018
Marketing: May 2018
Assets: Surplus Machinery
Sale Date: 6/06/18
Assets: Raw Materials (Steel)
Sale Date: 6/07/18
Assets: Surplus Vehicles
Sale Date: 6/22/18
6/11/18 through 7/6/19