Entire Welsh steel plant up for sale after closure

Mon, 07 Nov 2016 | ADMINISTRATION

All of the plant and equipment from a 10-acre steelworks in Wales will be sold at auction over the coming months following the appointment of administrators.

AIC Steel Limited, in Newport, a specialist fabricator of framework, bridges and sports stadia, went into administration last month with the loss of 100 jobs.

More than 400 lots including JCB lifting trucks, Ford vans, Ficep and Gemini machinery and KONE cranes will go on sale in the online auction, which opens in mid-November and closes on 6 December, 2pm UK time. A view day has been arranged for 29 November.

People managing the sale said they expect the auction to attract interest from buyers around the world, adding the plant and machinery was of a “very specialist nature”, with assets ranging from heavy industrial steel fabrication machinery, gantry cranes, welding rectifiers, materials handling equipment, forklifts and commercial vehicles all up for sale.

The administrators had hoped to sell the business as a going concern but were unable to. The decision to arrange an online auction of AIC Steel's assets was taken at the end of last month.

More details of the auction and sale can be found here.


Share this article



Latest Businesses for Sale

Festival Operator Business
Essex, South East, UK

An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.

Asking Price: £100,000
Turnover: £5,000,000

LEASEHOLD


Commercial Lighting Contractor Business (Fast Sale)
Oxfordshire, South East, UK

A sale will be executed at the earliest opportunity. All expressions of interest must be registered by no later than 22 July 2020. An excellent opportunity exists to purchase the business and assets of a well-established commercial lighting contracto...

Asking Price: £50,000
Turnover: £5,000,000

LEASEHOLD


Telecoms & IT Services Provider
London, UK

An opportunity to acquire a UK-based telecoms and IT multi-layered services provider delivering leading edge services to contracted telecoms partners. Successful model operating for over 17 years, in 3 different countries. Significant professional fr...

Asking Price: Offers Invited
Turnover: £2,700,000


View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources