Challenge

A global automotive manufacturer was restructuring its powertrain division and, as a result, elected to close a crankshaft production facility in Spain. The company had a short timeframe to empty the facility by selling and removing all assets.

Solution

After a competitive bidding process, the company selected Liquidity Services to efficiently clear the facility and maximize recovery for its surplus. The Liquidity Services team tapped its valuation and automotive manufacturing expertise to swiftly appraise all assets on site. Then, we implemented a customized sales strategy, selling each asset through the appropriate channel to ensure maximum recovery.

To generate interest in the assets, we launched strategic marketing campaigns, leveraging proven methods such as email marketing, social media, and search-engine optimization. All auction lots included detailed descriptions and photos, giving prospects the information they needed to bid or buy.

Throughout the project, Liquidity Services worked closely with the client’s senior management in Sweden and site manager in Spain to ensure a smooth, efficient facility clearance.

Results

In just three months, Liquidity Services sold and removed all assets, completely clearing the facility. Leveraging our large, global buyer base – buyers from 53 countries showed interest – Liquidity Services maximized recovery value for the client. By managing the closure from beginning to end as efficiently and effectively as possible, we enabled the client to focus on core business.

By managing the closure from beginning to end as efficiently and effectively as possible, we enabled the client to focus on core business.