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LIQUIDATION

 

 

In June 2001, Sysco hired a consortium of companies to sell off the assets of Sydney Steel Corporation.The consortium included:

Henry Butcher International www.henrybutcher.com
Michael Fox International www.michaelfox.com
Trans-Canada Liquidations www.managingyourassets.com

In August 2001, a two-day auction was held where many of the assets of the plant were sold -- surpassing expectations by raising just over $1 million. Assets for sale ranged from computers, to large technical equipment, to smaller hand tools and office supplies. There are items currently for sale, they may be seen in the Used Equipment Sales.

The larger steel-making assets of the plant were marketed separately and directly to potential buyers around the world through a private treaty sale. This included the electric arc furnace, bloom caster, slab caster, rolling mill and roll shop.

In February 2003, Sysco reached an agreement with Maxsteel Ltd. of the UK for the purchase and removal of the plant’s larger steelmaking assets.




 
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