Auction Set For Excess Assets Of Wood Manufacturer

Tiger Group to sell assets from Virginia manufacturing plant closed by American Forest Products

Aug 03, 2015, 09:35 ET from Tiger Capital Group

CHILHOWIE, Va., Aug. 3, 2015 /PRNewswire/ -- Tiger Capital Group's Remarketing Services Division is conducting an online auction of the assets of a 146,000-sq.-ft. wood moulding manufacturing plant in Chilhowie, Va., owned by Sure-Wood Forest Products, an American Forest Products (AFP) company. Tiger is also in talks with potential turnkey buyers for the entire operation, which has been closed by AFP.

"The wood moulding plant auction represents a unique buying opportunity for a wide range of building materials manufacturers and suppliers, including suppliers of wood trim products to home centers and lumber yards," said John Coelho, Senior Vice President of Tiger Remarketing Services.

The assets at the plant include woodworking equipment, a machine shop, forklifts, plant support and office equipment.

Online bidding will commence August 11 at www.SoldTiger.com. Bids will start closing in rapid succession, live auction style, at 10:30 a.m. (ET) on August 18.

Previews of the various assets being offered are available August 17, from 10:00 a.m. to 4:00 p.m. (ET), at 370 Deer Valley Road, Chilhowie, from 10:00 a.m. to 4:00 p.m. (ET).

Key individual assets featured in the online auction include a Raimann Profirip KR450M rip saw system, a TM Optisystem cross cut system with Woodeye Laser Grader, Weining moulders, table and band saws, and other woodworking equipment. 

The regrind and maintenance shop features two Rondamat 934 profile grinders, double-end and other grinders; shop, arbor and other presses; power and hand tools, and other equipment. Also available are a Mereen-Johnson 312-DC 12" gang and other rip saws; a Progressive 7 Station and other double-end tenoners, and other equipment.

A variety of plant support and rolling stock includes nine Hyster, Toyota, Yale and TCM forklifts; and LeRoi, Quincy, and Sullair packaged and screw type air compressors. Office assets at the plant include desks, chairs, conference table, file cabinets, lunchroom furnishings, computers, phone system and more.

For a full catalog of the items offered and details on how to schedule a site visit and bid, go to: www.SoldTiger.com.

About Tiger Capital Group

Tiger Capital Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger maintains offices in New York, Los Angeles, Boston, Sydney and San Francisco. To learn more, please visit www.TigerGroup.com

SOURCE Tiger Capital Group



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