Investment opportunities up for grabs
Business rescue sale offers options to buy or lease largest GRP maker south of the Sahara
● Park Village Auctions (PVA) is inviting offers to purchase assets stemming from the liquidation of the only glass fibre reinforced pipe (GRP) manufacturer in sub-Saharan Africa.
The sales fall under the auspices of PVA’s new business rescue division, which specialises in selling businesses that 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 DixPeek.
The company produces lightweight, corrosionresistant glass fibre reinforced 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, at 9 Tielman Roos Street, Germiston South, comprises three detached improved freestanding buildings with a singlestorey office component and factories that collectively measure 25 955m².
The sale includes options to purchase or lease the fixed property and the company as a going concern. Offers to purchase which are submitted under the following heading 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. 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 at 8 Prolecon Road, Prolecon, by no later than 4.30pm on May 24.
Viewing to be arranged by appointment only by contacting Andrew Dix-Peek on either 084 485 3285 or 011 334 2649 or by e-mailing andrew@parkv.co.za.
For all auction-related information, contact Park Village Auctions on 011 789 4375 or go to www.parkvillageauctions.co.za.