MIC Group Malaysia SDN BHD, Selangor , Malaysia

BACKGROUND :

Subcontractor of machines parts to the Oil Field Industry.

TYPE OF SALE :

-Online Auctions

EQUIPMENT :

CNC Turning Centers, CNC Horizontal and Vertical Machining Centers.

TRANSACTION :

Due to the poor business in the Oil & Gas Industry, he US owners decided to close their Malaysian manufacturing business. A US Machinery Dealer called Hilco to work on a joint bid for all of the Machinery & Equipment, we were successful and purchased the assets through Hilco Malaysia.

HIGHLIGHT :

Hilco organized a major AUCTION event, sold most of the machinery, however a number of US built machines did not sell, these were shipped back to the USA and upon arrival were sold to US buyers. Within 3 months, we removed all assets, cleaned the buildings and returned these to the Leaseholder.

CONCLUSION :

 Within 3 months, we removed all assets, cleaned the buildings and returned these to the Leaseholder.

MIC-Group