On the auc­tion block

Equip­ment from DSME to be sold at auc­tion

The News (New Glasgow) - - PICTOU COUNTY -

Equip­ment from the for­mer Tren­ton Works rail­car plant — which most re­cently op­er­ated as wind tur­bine man­u­fac­turer DSME — will be auc­tioned off Nov. 14 and 15.

David Boyd, of Price Water­house Cooper, which is han­dling the sale, said all of the ma­chin­ery and equip­ment lo­cated at the Tren­ton site will be in­cluded in the auc­tion. Both an on-site and live in­ter­net bid el­e­ment will be in­cluded in the auc­tion.

Boyd ex­pects there will be bids from both na­tional and in­ter­na­tional pur­chasers.

He said all as­sets will be sold and there will not be a se­cond auc­tion. All money from the sale will go to the Prov­ince of Nova Sco­tia.

“The Prov­ince of Nova Sco­tia, through its Eco­nomic De­vel­op­ment De­part­ment, is the sole se­cured cred­i­tor,” Boyd ex­plained.

He could not com­ment on the value of the equip­ment, cit­ing con­fi­den­tial­ity.

He said when the com­pany pre­pares the re­ceiver’s fi­nal re­port, the sales value from the auc­tion will be out­lined.

In Au­gust, the prov­ince an­nounced that it had not been able to find a sin­gle buyer for the fa­cil­ity and that the prop­erty would be trans­ferred to Nova Sco­tia Lands, ef­fec­tive Sept. 7, for fu­ture de­vel­op­ment.

FILE PHOTO

Equip­ment from the for­mer DSME Tren­ton plant will be auc­tioned off with money go­ing back to the Prov­ince of Nova Sco­tia.

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