Our Plant Liquidation Process

 

At Galaxie Corporation, one of our key services is plant liquidation. This process involves the permanent closure of a manufacturing facility or industrial plant. While the specific steps can vary based on circumstances and legal requirements, the general process typically includes the following:

Planning and Decision-Making: After evaluating factors such as financial viability, market conditions, and strategic objectives, management will decide to close the plant. 

Asset Evaluation and Inventory: Assets of the plant are assessed, including machinery, equipment, inventory, and property, to determine their value and potential for sale. This involves physical inspections, appraisals, and inventory checks.

Asset Disposition and Sale: A decision is made on how the plant’s assets will be sold, whether through auctions, private sales, or other methods. Assets may be sold individually or as part of a package deal. This step involves marketing the assets, negotiating with potential buyers, and finalizing sales agreements.

Plant Decommissioning: This involves dismantling or relocating equipment, disposing of remaining inventory, and completing any outstanding operational tasks. Most plants in this position seek outside assistance. Plant liquidation is a complex and time-consuming process that requires careful planning, legal compliance, and consideration for the well-being of employees and the environment. Seeking legal and professional advice is essential to ensure compliance with relevant laws and regulations throughout the process.

Why choose Galaxie:

Galaxie Corporation’s extensive knowledge of tube mills, pipe mills, and steel processing machinery (including slitting lines, cut to length lines, rollformers, rolling mills, and levelers) gives us an advantage when evaluating and pricing a plant and equipment for liquidation. Galaxie’s team has specialized in buying and selling of coil processing machinery around the world for nearly 40 years. We use that vast knowledge to bring our clients the most accurate and up to date descriptions and pricing for their assets, which in turn produces top quality leads and sales.

Click here to see our current Plant Liquidations.

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