Deals on solar goods to abound at auctions
Last Updated: 14:40 September 12, 2012
Great American Group Inc., based in Woodland Hills, California, will conduct the first of two auctions on Tuesday, Sept. 18.
Loveland-based Abound filed for Chapter 7 bankruptcy on July 2, citing competition from China's highly subsidized solar makers.
"We have a superb offering of module manufacturing and related facilities equipment along with test chambers, microscopes, machine shop equipment, plant equipment and many other items," said Paul Brown, a Great American official.
"This will be a multimillion-dollar offering. So far, we've received significant global interest from potential bidders from the solar industry, along with the semiconductor industry and related sectors."
Brown also said there are a large number of completed solar panels, ready to ship on pallets, which may be available through private negotiation.
"The interest in the completed panels has been very high because it presents a unique opportunity for buyers to acquire them at a fraction of their new cost," he said.
Other manufacturing equipment at Abound Solar's main production facility in Longmont will be auctioned live on-site during a two-day webcast auction Monday and Tuesday, Oct. 2-3.
Auction proceeds will be used to settle the company's debts. The company valued its assets at $136.1 million and said its liabilities amounted to $82 million.
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