Assets and property of pipe manufacturer to be sold off
Park Village Auctions (PVA) is inviting offers to purchase assets from the liquidation of the only glass-fibre reinforced pipe maker in sub-Saharan Africa.
The sales fall under the auspices of PVA’s new businessrescue division, which specialises in selling businesses that are experiencing difficulties.
Most of the businesses that PVA sells under this banner are simply in need of a capital injection, or restructuring, in order to continue operating and therefore represent a great opportunity for investors, says PVA’s Andrew Dix-Peek.
The pipe maker produces lightweight, corrosion-resistant glass-fibre reinforced pipes and fittings, used in potable, raw, sea, industrial, waste, sewer and bulk-water applications.
Moveable assets to be sold include a continuous winder, a glass-fibre reinforced pipe laboratory, a hydrotester, a coupling mill, a fitting shop, a generator, office equipment and a collection of stock and raw materials.
The property on offer, 9 Tielman Roos Street, has three detached improved freestanding buildings with a single-storey office component and factories that collectively measure 25,955m² in total.
The sale includes options to purchase or lease the fixed property, and the company as a going concern.
Offers to purchase submitted under the following headings will be considered:
Invitation to submit offers for the purchase of the glass reinforced pipe manufacturing company as a going concern together with the fixed property.
Invitation to submit offers for the purchase of the glass reinforced pipe manufacturing company as a going concern. An option to rent the premises from the landlord exists.
Invitation to submit offers for the purchase of the assets of the glass reinforced pipe manufacturing company.
It must be noted that the joint liquidators reserve the right not to accept the highest or any other offer.
Offers are to be submitted to PVA’s Prolecon Office, 8 Prolecon Road, Prolecon, by no later than 4.30pm on Thursday, May 24 2018.
Viewing to be arranged by appointment only.
THE SALE INCLUDES OPTIONS TO PURCHASE OR LEASE THE FIXED PROPERTY, AND THE COMPANY AS A GOING CONCERN