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Entire Welsh steel fabrication plant to be sold by auction after closure

Written by: Malcolm Good on Friday 04/11/2016

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The entire plant and equipment of a Newport, Wales, steelworks is to be sold in an important online auction in November and December 2016, following the closure of the 10 acre site.

AIC Steel Limited went into administration on 4 October 2016 with the loss of over 100 jobs. AIC Steel Limited was a specialist fabricator within the construction industry of framework and bridges and sports stadia including Ashton Gate stadium in Bristol.

It is anticipated that the online auction which opens mid November, with a view day arranged for the 29 November, will attract buyers from the local vicinity and from around the globe.

Malcolm Good, director of machinery and business assets at auctioneer and valuation specialist Eddisons, said:  “This is an important auction that includes upwards of 400 lots ranging from heavy industrial steel fabrication machinery, gantry cranes, welding rectifiers, materials handling equipment, forklifts and commercial vehicles. The machinery is of a very specialist nature and we are hoping to attract buyers from all over the world together with buyers from the UK.

“It was the aim of the administrators to sell the business as a going concern but unfortunately that has not proved possible and the decision to arrange an online auction of the company’s assets was taken at the end of October.”

The lots include machinery by Ficep, Gemini and HG Farley and Cranes by KONE, Barton, Morris and Demag, JCB lifting trucks, Ford vans and trucks and Atlas Copco compressors. Eddisons is currently preparing the auction, cataloguing the lots and arranging advertising throughout the world ready for the auction to go live. Bidding will close on 6 December, from 2pm UK time.

Full details of the auction and a detailed breakdown of the assets can be viewed at www.eddisons.com/machinery-business-assets/assets-for-sale/ 

Written by: Malcolm Good on Friday 04/11/2016

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About the author

Malcolm joined Eddisons in 2012 as a Director in the Nottingham office as part of the acquisition of a small specialist machinery and business assets valuation company. With 36 years’ valuation experience specialising in all aspects of the insolvency sector, Malcolm is also one of the founder members of The National Association of Valuers & Auctioneers, becoming a fellow in October 1987 holding the title FNAVA.

Malcolm has been a keen supporter of Nottingham Forest and season ticket holder for the last 40-odd years and most of his spare time is devoted as a doting grandfather.

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