Home » Contents of Multisector Engineering Operation and Property on Auction

Contents of Multisector Engineering Operation and Property on Auction

by Tia

Park Village Auctions has announced a “massive auction in which the entire contents of a heavy engineering facility and property are to be sold individually.”

That’s the word from PVA’s Clive Lazarus who says that the assets stem from a renowned Ostem (Pty) Ltd currently in business rescue.

PVA’s business rescue division specialises in selling businesses experiencing difficulties. According to Clive, most businesses sold under this banner simply need a capital injection or restructuring to continue operating, representing a great opportunity for investors.

Clive: “In the case of Ostem being a contract manufacturer and provider of fabrication, machining, assembly and repair services to all industries in South Africa, the movable assets alone represent an excellent opportunity to acquire otherwise costly capital and operating equipment.”

The auction begins on Wednesday, the 24th of April, at 11 am with the sale of number 6 Bessemer Street, Duncanville (Vereeniging). This large, heavy industrial manufacturing complex comprises engineering and manufacturing workshops, warehouses, offices, staff ablutions, ample parking, carports, a security office and a cement dam. As the premises boasts four access gates, the property easily lends itself to subletting (or subdivision).

The plant and associated machinery will follow. The lot includes Schiess, Berthiez, Raframet, Geo Richards & Co, and Webster Bennett vertical lathes, a You Ji CNC vertical lathe, Lang, CHG, and Ikegail centre lathes, Cincinnati Milacron and Shenyang No1 CNC lathes, a Kiheung CNC milling machine, Union and Scharmann horizontal boring mills, gantry cranes, heavy duty profile rollers, a Grafenstaden floor borer, a Metso Crusher test rig, an Arc Welder with rotating manipulator, Okuma, Mas, Raboma Radial arm drills, and plate rolls.

Equipment to be sold includes shelving, work benches, tool cabinets, 1-ton Chain Hoist jib cranes, a Mitts and Merrill hydraulic keyseater, grinders, bandsaws, steel measuring tables, lathe and mill accessories, tools spanners, measuring equipment, machine tooling, a thread cutter, a ribbed clamping table, a friction cutter, a 3-ton overhead crane, welders, a dust extractor, a mechanical guillotine, and 6m and 12m containers.

A Mitsubishi 5-ton forklift will be sold as a single lot, followed by the final lots comprising assorted office furniture and equipment, electrical and computer equipment.

The property and the contents of the engineering facility are to be sold separately.

Viewing will be held onsite Monday and Tuesday, the 22nd and 23rd of April, from 9 am to 3 pm, while the auction will take place online and onsite simultaneously. To register to bid or find more information, please visit web reference 1495 at www.parkvillageauctions.co.za.

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