Issue: Jan 2010


Great American Group Contracted to Manage Auction of Former Assets of Newark Chrysler Plant



by Steve Barclay

Great American Group, Inc., a leading provider of asset disposition, valuation and appraisal services, announced they have been contracted by The University of Delaware to auction the assets of the former Chrysler automotive fabrication, assembly plant and distribution facilities in Newark, Delaware.

The auction will follow a period of orderly liquidation and take place on Thursday, February 25th starting at 10:00 a.m. EST at the University's Clayton Hall, located at 100 David Hollowell Drive off Route 896 in Newark. Items to be sold will be available for inspection Feb 22nd-24th between the hours of 9:00 a.m. - 4:00 p.m. at the site of the former auto plant, 550 S. College Ave., Newark.
L
ive simultaneous bidding will occur onsite and online. The sale will include press brakes, shears, vertical milling machines, lathes, saws, tool room equipment, drills, welding & cutting equipment, CNC axis robotics, compressors, heating & cooling equipment, vehicle lifts, warehouse equipment, pallet racking & distribution equipment and much more! For detailed descriptions of all items, visit www.greatamerican.com or call 1-800-45GREAT.

"Great American Group is proud and excited to have been selected to conduct this sale on behalf of the University of Delaware. This offering will generate an opportunity for the university to reinvest and expand their educational offerings in the time to come. Through the process we will be liquidating key assets to second tier suppliers and will be offering over 1,000 lots through a live auction and simultaneous internet bidding," said Mark Weitz, President of the Wholesale & Industrial Division.

About Great American Group, Inc.

Great American is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, London, Los Angeles, New York and San Francisco.

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