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Date: 08/05/2018     Park Village Auctioneers     Auction News

Glass Reinforced Pipe Manufacturing Concern on Offer

Glass Reinforced Pipe Manufacturing Concern on Offer
PVA is inviting offers to purchase assets stemming from this glass reinforced pipe manufacturing concern.

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

The sales 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 light-weight, 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 story office component and factories that collectively measure 25955 sqm’s in total.

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.
• 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 the 24th of May, 2018. Viewing to be arranged by appointment only by contacting Andrew Dix-Peek on either 084 485 3285, 011 334 2649 or by emailing andrew@parkv.co.za.

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