Ideal business opportunity

LIQUIDATION AUCTION: GLASS FIBRE REINFORCED PIPE MANUFACTURER TO GO UNDER THE HAMMER

Park Village Auctions (PVA) is inviting offers to purchase assets stemming from the liquidation of the only glass fibre reinforced (GRP) pipe manufacturer in Sub-Saharan Africa.

The sale falls under the auspices of PVA’s new business rescue division which specialises in selling businesses which are experiencing difficulties.

Most businesses which 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 company produces lightweight, corrosion-resistant glass fibre reinforced (GRP) pipes and fittings which are widely used in potable, raw, sea, industrial, waste, sewer and bulk water applications.

Moveable assets to be sold comprise an E2 Continuous Winder, a GRP Lab, a hydrotester, a coupling mill, a fitting shop, a generator, office equipment, as well as a collection of stock and raw materials.

The property on offer, situated at number 9 Tielman Roos Street, comprises 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.

The joint liquidators reserve the right not to accept offers.

The sale includes options to purchase or lease the property.