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.

Challenges

The facility was located in a remote location with under developed transportation infrastructure.

There were no local transportation, removal and rigging companies easily accessible.

Solution

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.

Outcome

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

Timeline

Set-up: April 2018 through June 2018

Marketing: May 2018

Sale #1

Assets: Surplus Machinery

Sale Date: 6/06/18

Sale #2

Assets: Raw Materials (Steel)

Sale Date: 6/07/18

Sale #3

Assets: Surplus Vehicles

Sale Date: 6/22/18

Removal

6/11/18 through 7/6/19