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UPDATE: Ormet Sale Finalized – Hannibal Development Partners is on site!

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Niagara Worldwide is on site managing the efforts of Hannibal Development Partners, as top management determines the sites next steps.

12 Miles of Rail, Barge Docks, Usable Buildings and an Aluminum Manufacturing Infrastructure that effects the world market is ready for use, reuse or repurpose.

Former Ormet Aluminum Refinery

UPDATE 7/31/2014 5:05 PM

Nine months ago it was Ohio’s largest industrial layoff of the year.

Now, it’s official.

Ormet is no more.

The sale of the idle plant to Niagara Worldwide was finalized Wednesday, according to its president.

Niagara is a Wisconsin property developer that buys, manages, markets and sells idle industrial property.

The company bought the Ormet plant at an auction earlier this summer for $25 million.

A former employee we spoke with did not want to appear on camera.

He was laid off in October after 15 years at Ormet.

“Pretty tough, it’s something that didn’t have to happen. Kasich, he could have done something,” says the former employee.

While Ormet is no more, Niagara’s president says it’s possible another aluminum smelter could move in to the plant.


UPDATE 6/30/2014 11:15 AM

Big news for the future of Ormet.

A new company steps in with a move that could potentially resurrect the idle property.

The president says he wants to bring jobs back to the region.

The big deal is creating optimism for former employees who want the site to reopen.

Friday during a private auction Niagara Worldwide won the rights to purchase Ormet and its assets for over $25 million.

The company is out of Wisconsin.

It’s a property developer that acquires, manages, markets and sells idle industrial properties.

Just in the past year, nearly 1,000 workers were laid off at the Hannibal location but now the site’s future is looking a little brighter.

“We find ourselves looking at a site in a downturned economy that needs some sort of facelift, modification, marketing, interaction with the community or the economic development council so that it can gain funding, gain momentum and restart or change over completely,” says Eric Spirtas, President of Niagra Worldwide.

“It builds the community up, jobs can come back here. A lot of them have left here, and got jobs at other places and maybe they’ll com back. I hope so,” says Paul Isaacs.

Niagara’s president says there’s a lot of work to be done but the company will concentrate their efforts toward finding the right plan for the Hannibal site.

Ormet was last year’s largest industrial layoff across all of Ohio.


UPDATE 5/19/2014 12:15 PM

HANNIBAL, Ohio (AP) – Ormet Corp. told the state it will lay off the remaining 42 employees at its aluminum smelter in eastern Ohio.

The employees remained after the plant in Hannibal ceased operations in October. They will lose their jobs at the end of the month, with a complete closing of the plant by the end of July.

The company announced it would close its plant along the Ohio River and lay off more than 1,000 workers after state utility regulators rejected portions of its proposed deal for reducing electricity costs.

Ormet said the decision by the Public Utilities Commission of Ohio made it impossible for the company to escape bankruptcy.

The plant was once the largest employer in the region.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


UPDATE 2/21/2014 5:10 PM

Lending a helping hand.

Workers from the closed Ormet plant get much needed groceries.

Friday was the first of a two-day food drive organized by the United Steelworkers.

There were also people on hand providing help with pension plans and health insurance.

The workers were laid off when the Hannibal aluminum manufacturer shut down in October.

Congressman Bill Johnson’s office had representatives there Friday as well.

he donated $2,000 to help provide tax preparation services to the workers there.


UPDATE 2/19/2014 5:12 PM

Relief is coming in the form of the union for local 5724 members who were Ormet workers laid off at Hannibal’s aluminum plant.

The united steelworkers host a food and relief drive Friday and Saturday from 9 to 4.

On top of handing out groceries, presentations about benefits and services will be available for workers and their families, with topics ranging from health insurance through Get Covered America, to tax services through United Way, and even private or anonymous mental health services.

The event will be held at local union 5724 on Union Drive in Clarington, Ohio.


UPDATE 1/8/2014 5:05 PM

They lost their jobs over a power dispute.

Wednesday Ormet workers traveled to Columbus to rally in front of AEP.

They’ve wanted Governor John Kasich to step in and help resolve the power rate dispute between the utilities commission, AEP and the company.

So far, no luck.

But the Ormet workers are not giving up.

They say they want a resolution.

Outside in the cold Wednesday they marched, trying to raise awareness and get AEP back to the table.

Ormet declared bankruptcy in Febuary of 2013.

In October of 2013 they shut down after no agreement was made on the electric rates.

It resulted in the loss of 1,000 jobs in southeastern Ohio, affecting entire families.

Picketers say if AEP doesn’t do something those families will be forced to leave the Valley and even the state of Ohio.

Workers say they just want AEP to charge Ormet the same price they charge the other aluminum producers.

Workers say this is the most depressing thing they have ever had to do.

They say they are disappointed in Governor Kasich and how he is handling the situation.

As the day went on the crowd grew and people that didn’t even work at Ormet joined in to help the cause.

Melissa McHenry, Director of External Communications for AEP, released the following statement:

“We are sorry to see any Ohio business fail, and we sympathize with the Ormet employees who lost their jobs, but the reality is that Ormet already had substantially discounted electricity rates, and the Public Utility Commission of Ohio determined that it was not appropriate to further subsidize those rates. It is unfortunate, but Ormet simply could not sustainably compete in a depressed aluminum market, and electricity rates are not the reason.”


UPDATE 12/27/2013 4:20 PM

Keeping up the pressure.

The United Steelworkers Union isn’t letting up on its efforts to reopen the dormant Ormet aluminum plant.

It’s now been three months since that Monroe County, Ohio plant shut down after it failed to get an agreement with state utility regulators on an electric power rate plan.

But the United Steelworkers says it will keep pressure on the Kasich administration and the state public utilities commission.

Ormet, which declared bankruptcy earlier this year, shut down in October after the state public utilities commission failed to approve a new power rate structure with American Electric Power.

The union, in a teleconference Friday morning, once again called on Governor John Kasich to step into the situation.

“The PUCO (members) are appointed by the governor; I understand they act independently of what his desires might be,” says David McCall, with the United Steelworkers Union. “But the governor of the state of Ohio can bring the parties to the table, and demand they sit down and discuss what the real facts are.”

McCall noted Kasich’s predecessors, from both political parties, were able to help keep the struggling plant open.

The Steelworkers Union recently has conducted an on-line petition drive.

But this weekend, it plans to take its efforts door-to-door.

The governor’s office has told us it cannot force a solution with the PUCO.

Published reports say some of Ormet’s assets have recently been put up for public auction.


UPDATE 11/19/2013 9:40 AM

The issues surrounding the closing of Ormet aren’t going away.

Last week the United Steelworkers challenged Governor Kasich to get Ohio regulators and a major utility to negotiate a new power rate to reopen the plant.

The governor’s office said it can’t tell the utilities commission what to do.

Monday Senator Lou Gentile criticized that answer.

“A lot of concern, especially about our communities. I’m very disappointed that the governor has not become more engaged, he has yet to make a public comment concerning Ormet himself, he has only utilized his spokesman on his behalf and I believe that the people in the Mid-Ohio Valley deserve better, quite frankly,” says Sen. Gentile.

Senator Gentile was in Marietta Monday endorsing Jennifer Garrison’s campaign for Congress.

Senator Gentile says Garrison has the best interest of this community and the entire district in mind.


UPDATE 11/13/2013 5:50 PM

Tuesday dozens of steelworkers held a rally, trying to re-start the Ormet plant with Governor Kasich’s help.

Wednesday the governor’s office shared a response the union wasn’t hoping for.

The United Steelworkers want the governor to get Ohio regulators and a major utility to negotiate a utility rate to reopen the Ormet plant in Monroe County.

But the governor’s office says what they’re being asked to do is not their responsibility, and it’s also illegal.

“The reality is we’ve been involved, but the only thing we’ve seen concrete that they’ve asked us to do is not permissible under Ohio law and that is push around the Public Utilities Commission,’ says Press Secretary Rob Nichols. “In Ohio, the PUCO is an independent entity so what they’ve asked us to do is not looked upon kindly by Ohio law.”

The governor’s office adds that they are open to any suggestions and ideas that can reverse falling aluminum prices.

A thousand workers were laid off last month at Ormet after the Public Utilities Commission rejected part of a deal to reduce the cost of power.


UPDATE 11/12/2013 4:25 PM

Trying to re-start an idled plant.

Steelworkers want Ohio Governor John Kasich to get involved.

The United Steelworkers want Governor Kasich to get Ohio regulators and a major utility to negotiate a utility rate to reopen the Monroe County plant.

A thousand workers were laid off last month at Ormet after the Public Utilities Commission rejected part of a deal to reduce the cost of power.

“There’s got to be a way they can sit down together and find a solution to this power problem,” says Donnie Blatt, with United Steelworkers. “These folks aren’t asking for a handout, they’re asking for a fair shot to retain their jobs.”

The union is promoting its cause through a website and social media.

Ormet filed for bankruptcy protection last February.


UPDATE 11/12/2013 12:30 PM

Ormet workers are not going down without a fight.

A labor union seeking the reopening of the aluminum smelter is launching a campaign aimed at Governor John Kasich.

It is called Save Ohio Jobs.

Through videos and a new website, the union will gather signatures to ask Gov. Kasich to use his position to help.

Ormet filed for bankruptcy protection in February.

It decided to close its plant along the Ohio River near Wheeling last month after state utility regulators rejected portions of its proposed deal for reducing electricity costs

Tuesday a rally is being held in Clarington, Ohio.

We do have a reporter there and we will have more on that story Tuesday on WTAP News at 5, 6 and 11 and right here at thenewscenter.tv


UPDATE 10/28/2013 11:45 AM

COLUMBUS, Ohio (AP) – What was once the largest private employer in its region is now Ohio’s largest industrial layoff of the year.

As we told you earlier this month, Ormet announced it would be closing its doors, putting more than 1,000 employees out of work.

Now, Governor Kasich is facing criticism over the smelting company’s closure.

Officials with Ormet are blaming the governor for not helping the company with their negotiations with state utility regulators.

The Public Utilities Commission of Ohio denied the company’s request for an energy transition plan to operate while building a natural gas based power facility.

Kasich’s supporters say Ormet was doomed by the economics of huge power requirements and historically low metal prices.

The company began a partial shutdown in August after being turned down for a temporary reduction for its power bill.

Ormet filed for bankruptcy in February.

Officials say a restart of its plant would depend on its ability to get a long term economical power supply .

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


UPDATE 10/11/2013 04:50 PM

Some Ohio lawmakers want pressure on the governor to keep Ormet open.

Others say: just get some kind of resolution.

Echoing the latter statement is Republican State Representative Andy Thompson.

Thompson says that, while the governor appoints members of the state public utilities commission, there’s only so much influence he has over the commission’s decisions.

“The difficult thing for Ormet is the economic climate right now. The market for aluminum is not good,” Thompson says. “They want to see light at the end of the tunnel, and they want to see this turned around. That’s something that’s going to be involved if they sit down at the table, if they’re able to sit down to the table.”

Ormet says the failure of PUCO to approve in its entirety an interim agreement on utility rates was behind its decision to close its Monroe County aluminum plant.

Lawmakers and the united steelworkers union have called on Gov. Kasich to intervene in the case.


UDPATE 10/10/2013 5:05 PM

Thousands of people have lost their jobs after the closing of Ormet in Monroe County.

It’s a big issue right now and Senator Lou Gentile is trying to help.

Senator Gentile says his heart goes out to the workers and their families.

He says this is just devastating to the economy in southeastern Ohio and all of Ohio.

He says the Kasich administration did not hold up their end of the deal to secure the reasonable rate to operate.

His office is working with the people that lost their jobs and their families to help them with the next steps to stay afloat.

Ormet announced last week it was closing the Hannibal, Ohio plant after failing to get approval from the state Public Utilities Commission for a transition plan

That, the company said, would have allowed it to keep the plant operating while transitioning to natural gas power.


UPDATE 10/9/2013 12:20 PM

COLUMBUS, Ohio (AP) – The United Steelworkers say Gov. John Kasich can help save 600 jobs in southeast Ohio by intervening in an electricity conflict between aluminum maker Ormet Corp. and state utility regulators.

Ormet has proceeded with “full curtailment” of its Hannibal, Ohio, operations after the Public Utilities Commission of Ohio partially rejected its energy transition plan last week. The company’s request to continue operating while building an onsite natural-gas power plant was declined.

A statement on Ormet’s website says the decision makes it impossible for the company to escape bankruptcy. Commissioners allowed Ormet to defer electricity bills through December. It filed bankruptcy in February.

The steelworkers’ union asked Kasich to urge Ormet, PUCO and American Electric Power to negotiate a compromise.

Kasich’s spokesman says the state wants Ormet to succeed and previously has given it a more than $300 million subsidy.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


UPDATE 10/7/2013 4:49 PM

Steel workers take another huge hit.

Another long time plant decides to shutdown.

Ormet, just up the road in Hannibal, Ohio, made the announcement at the end of last week.

This is not exactly a closing that sent shockwaves through a community.

Ormet announced back in February it is in bankruptcy, and the company gave its required notice of a partial shutdown this past summer.

What, according to company officials, sealed the plant’s fate was the decision by the Ohio Public Utilities Commission to approve only part of a request for electric power rate subsidies.

Although the Hannibal, Ohio plant’s employment is below what it once was, one area development official says it’s still a sad day for the area.

“When they lose their jobs, it has a ripple impact. Fewer people are buying cars, buying houses, buying all the things that go with living life here,” says Charlotte Keim, President of the Marietta Area Chamber of Commerce. “It hurts other businesses who may be suppliers to that company.”

In a company statement released last week, Ormet says the rate it pays to purchase electricity from American Electric Power has increased more than 50 percent in the past four years.

Leaders of the United Steelworkers local representing Ormet workers were reportedly in meetings Monday with company officials.

We have not been able to reach them for comment.


A big blow to the economy along the Ohio River.

Ormet says it’s closing its doors, putting 600-employees out of work.

The Hannibal based aluminum smelter made the announcement in a news release on its website.

Back on Wednesday, the Public Utilities Commission of Ohio denied the company’s request for an energy transition plan to operate while building a natural gas based power facility.

Because of that, the company is shutting down operations immediately.

In August Ormet began a partial shutdown, after being turned down for a temporary reduction for its power bill.

And, back in February Ormet filed for bankruptcy.

The company says that a restart of its plant would depend on its ability to get a long term economical power supply.

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3 vacant mills in western Massachusetts are sold

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Wednesday, August 6, 2014

Screenshot 2014-08-09 11.14.18

Associated Press

LEE, Mass. — A Wisconsin-based development company has bought three vacant paper mills in western Massachusetts and is talking with local officials and others about how to use the properties.

Niagara Worldwide of Niagara, Wisconsin, bought the Columbia and Greylock mills in Lee and the Niagara Mill in Lenox Dale. The sale prices weren’t disclosed.

Niagara President Eric Spirtas told The Berkshire Eagle (http://bit.ly/1kmp41j ) that his company is working with local officials, other developers and prospective tenants on possible redevelopment of the mills, which were closed more than six year ago by previous owner Schweitzer-Mauduit International. Spirtas also says the company will be seeking the public’s input.

The Columbia and Niagara mills date back to the 1800s, while the Greylock Mill was built in the mid-1960s. All three are in residential neighborhoods.

___

Information from: The Berkshire (Mass.) Eagle, http://www.berkshireeagle.com 

Prepared by:
NIAGARA Worldwide LLC
Eric J Spirtas
President

USA Address:
WISCONSIN
 – 1101 Mill Street, Niagara Wisconsin 54151
OHIO – 43840 Ohio #7, Hannibal Ohio, 43931
MISSOURI – 6727 Langley Ave., St. Louis Missouri 63123
+1.314.780.3742 Direct – +1.866.735.9925 Fax
eric.spirtas@niagaraworldwide.com
www.niagaraworldwide.com

NIAGARA DEVELOPMENT COMMITS TO A 2012 FACE LIFT

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January 16, 2012 – NIAGARA WISCONSIN (For Immediate Release)

*****

*****

NIAGARA DEVELOPMENT COMMITS TO A 2012 FACE LIFT 

 

Niagara Development is quickly approaching its February 11th one year anniversary as owner of the former NewPage Paper Mill in Niagara Wisconsin and operator of the 1,300 acre property conversion that straddles the Menominee River in both Dickinson and Marinette Counties.

After exhaustive research and on site review from industry experts and business redevelopment teams from around the region, it has become clear that many of the “purpose built” structures on the site were not an advantage to new comers, but as stated by most suitors, a deterrent to utilization and restoration.  “NIAGARA has engaged real estate and construction professionals alike to walk the vacant buildings that were used for the manufacturing of ‘Paper’, ‘Pulp’ and ‘Power’ in order to outline options that fit the areas reuse plan.  Every response focused on the difficulty of conversion to standard industrial use,” says President of NIAGARA Development, Eric J Spirtas.  “Every professional sees the immediate value in the; Shipping, Coating and Warehouse buildings, but highlights a ‘disconnect’ when considering the reuse of the remaining large multi-story industrial buildings.”

Recently a National firm contacted NIAGARA Development, offering to buy all of the structures and associated equipment at the facility to “Demolish and Scrape” the entire site, creating a cleared brownfield parcel.  This proposal did not fit NIAGARA Development’s desire or intent.  Instead NIAGARA Development took this opportunity to strategically plan the retention of the most marketable buildings, while accepting parts of the original proposition, which will result in the removal of the un-usable buildings.  This work will start immediately and will open up the remainder of the site for re-purposing of any type.  “Removing the unsuitable buildings will provide NIAGARA with a unique opportunity to market available space to any type of company and then specifically design buildings and usage patterns that fit the needs of today’s buyer,” says Spirtas.

The company removing the unusable structures will also spend a significant amount of money getting the railroad back in full operation giving NIAGARA Development a distinct advantage in marketing the property to new businesses.  “Bringing in upgraded rail will be a benefit to the mill property’s long-term redevelopment plans providing greater value to the remaining buildings,” says Niagara Mayor, George Bousley.  “Rail will be rebuilt from Kimberly Road to the mill site.”

“The Niagara facility offers some exceptional opportunities in Northeast Wisconsin for manufacturing and warehousing/distribution,” according to Tom Scheuerman, CPA, and managing broker of Grubb & Ellis|Pfefferle in Appleton, WI.  “From our vantage point, the repositioning and reuse of a former manufacturing facility like in Niagara offers great advantages for both companies looking for affordable space with excellent attributes and local communities with outstanding ready work forces.  In order to attract new business into an area, we have seen that facilities like Niagara are critical to that process because they are on-line and ready for occupancy.  This facility offers some exceptional manufacturing space, low-cost power, waste water treatment, expansion capability, rail service and hundreds of acres of land that can be very attractive to new businesses.”

Spirtas continues to show his commitment to the local area by setting up his corporate headquarters known as NIAGARA Worldwide at the Mill.  He will be using the former Clubhouse building as his main offices.  Extensive renovations are underway in that structure right now for occupancy in the next few weeks.  NIAGARA Worldwide specializes in services ranging from; Acquisitions, Consulting, Contracting, Development, Mining, Liquidation, and Trading.  Niagara Worldwide is NIAGARA Development’s first tenant setting up its operation in the notable Clubhouse building.

“The NewPage Niagara Mill redevelopment team named the Upper Menominee River Area Alliance (UMRAA), including New North, Inc., continues to focus on repurposing the mill site,” said Jerry Murphy, Executive Director of New North, Inc., the economic development organization of the 18-county region of Northeast Wisconsin, known as the New North region.   “The Redevelopment team looks forward to continuing to work with NIAGARA Worldwide to market the existing mill site for future use.”

“The current ownership of Niagara is optimizing the site and removing old buildings that are functionally obsolete and a deterrent to future use and development.  This will enhance the site and allow for expansion capability around the structures that are usable for manufacturing and warehousing.  This approach of preparing sites and redevelopment of the facilities offers the greatest opportunity to attract new business.  We have seen this formula work successfully in other communities,” says Scheuerman.

*****


For more information about; NIAGARA Development or NIAGARA Worldwide, contact Eric J Spirtas – 314.780.3742 or by email at eric.spirtas@niagaraworldwide.com or through the company web site – www.niagaraworldwide.com.

*****


ADDITIONAL “CLUB HOUSE” HISTORY AND INFORMATION:

The first Club House was built in the year 1907 with the formal opening early in 1908.  The original building included a soda fountain, a small ice cream parlor, poolroom, shower and locker rooms, bowling alleys, and the gymnasium, which served alternately as gymnasium and theater.  A second floor housed the library, a dining room and kitchen, and rooms rented by the Masonic Lodge.  The Club House was rebuilt in 1926, with only the gymnasium of the original building remaining.  The bowling alleys were moved to the west side of the building, the ice cream parlor was enlarged as was the soda fountain, and the large lobby was constructed and furnished.  In addition, the second floor at that time had a modern kitchen, dining room: a Women’s Club Room, and lodge Rooms.

The Papermill Workers’Unionmaintains an office there.  The Skating Club used the Club facilities for planning their Annual Ice Review.  The second floor housed the Village Offices, and there was a Village Board Room.  The Post Office was located in the northeast corner of the first floor, and the Girls Scouts maintain a room on the second floor for their meetings.  The Niagara Community Club remained a truly “community” affair, for few activities of theNiagaravillage came into being without the Club playing some part.

1512 Washington – Manitowoc Wisconsin 54220 – NIAGARA Worldwide will work with EJ Spirtas Manitowoc LLC and Manitowoc Development Patners LLC to Re-New this City Block

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What do we do with this “Historic City Block”?

First Thought… Redevelop…?

Second Thought… Wreck…?

Anyone?  Anyone?

Manitowoc /1512WashingtonSt.jpg

CLICK HERE (“OR”) ON THE PICTURE TO ACCESS THE LOOPNET LISTING

Attachments

 
Historic Mirro Building
Developed By: EJ Spirtas Manitowoc, LLC
5 Building Complex
7 Story High Rise – 500,000 Sq Ft
6 Story High Rise – 400,000 Sq Ft
3 Story – 250,000 Sq Ft
5 Story Connector – 150,000 Sq Ft
3 Story Connector – 125,000 Sq Ft
6 Acre Property

Historic Downtown Development Opportunity

Take your business to 1512 Washington Street, Manitowoc, Wisconsin.

Building Description

The historic Mirro plant has more than 1,000,000 square feet of space on a 7.49 acre redevelopment site that is located on the edge of Historic Downtown Manitowoc.

Within walking distance of downtown amenities such as the Capitol Civic Centre, the Wisconsin Maritime Museum, Rahr West Art Museum, Manitowoc Riverwalk, Manitowoc Marina, Manitowoc Yacht Club, Mariners Trail, Lake Michigan, Library, Farmers Market, SS Badger Lake Michigan Car Ferry and dozens of shops and restaurants, this is a development opportunity that is immediately available.

Building Information  Utilities
Address: 1512 Washington Manitowoc, WI
Electricity supplier:  MPU
Total sq ft available:  1,408,520
Gas supplier:  WPS
Number of stories: 7
Municipal water:  Yes
Ceiling heights: 8’5″ to 12’7″ 
Water source:  Lake Michigan 
Site size (ac):  7.49
Peak capacity at water plant:  11 mgd 
Topography: Flat
Peak capacity at sewerage plant:  15.5 mgd 
Setting: Downtown    
Zoning: Industrial Telecommunications  
Former Use:  Mirro Fiber
Optics:  Yes
Digital switching:  Yes
Transportation Nearest major highway:  US Hwy 151/10 Incentives  
Distance to nearest highway: Adjacent Development Zone Tax Credits   
Number of lanes: 2 Industrial Revenue Bonds  
Nearest interstate:  I-43 Revolving Loan Fund   
Distance to nearest interstate:  4 miles  TIF  
Number of lanes:  4 Technology Zone Tax Credits   
Nearest commercial airport:  Austin Straubel
Distance to nearest airport:  40 miles     
Rail service:  No    
Nearest port facility:  1 mile


Terms
Leasing Rate:  Negotiable
Lease Type:  Negotiable
Sale Price:  Negotiable
 
Building Contact 
Name: Eric J. Spirtas 
Phone: (314) 432-7733
 
Community Contact 
Name: Dave Less 
Title: City Planner 
Organization: City of Manitowoc 
Address: 900 Quay St 
City: Manitowoc 
State: WI
ZIP: 54220
Phone: (920) 686-6930
Fax: (920) 686-6939
Email: dless@manitowoc.org
Web: www.manitowoc.org

Large Press and Machine Shop Liquidation – Creating value from dormant assets! Closing Friday – July 8th

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Niagara Worldwide – Helps Another Client

The Next Ongoing Events

TIMED EVENT – ENDS JULY 8

ONLINE AUCTION:
Steel Parts Manufacturing
Tipton, Indiana

Download The Auction Postcard (PDF) View Auction Brochure Flip Book
Download the Steel Parts Lotbook (PDF) Download Rigger List (PDF)

For most small business owners, the thought of liquidation is appalling and grotesque.  The media depicts its general ideas associated with liquidating into your brain:  Front pages of newspapers read bankruptcy, tickers scroll the bottom of your televisions with exponentially increasing debt figures, and small businesses stick up gaudy neon-colored ‘STORE CLOSING SALE’ signs that scream urgency.  With the economy in its current state, it’s not difficult to fall victim of all the hype [and scare].  Yet, the media fails to acknowledge the rest of the liquidation business; the beneficial business strategy of liquidation: converting your obsolete, overstock, salvage, returns, and excess inventory into immediate, upfront, and useable cash.

There are two major forms of liquidation: compulsory and voluntary.  When you hear of liquidation in the media, it is compulsory liquidation, which is when you are forced to liquidate by law.  Compulsory liquidation is the last resort for a business.  It involves selling off every aspect of the business, from their inventory all the way up to their debts.  When a company is compulsory liquidating, they are closing their doors for good.  The latter form, voluntary liquidation, is the unspoken strategy that is used frequently within all Fortune 500 businesses.

Call NIAGARA Worldwide today to see how we can support the re-sale and re-purposing of your industrial assets. 

Eric J. Spirtas – President
NIAGARA Worldwide
715-251-3151 Main Office Telephone

www.niagaraworldwide.com  
eric.spirtas@niagaraworldwide.com

NIAGARA Worldwide works with HYPERams to Liquidate Lafayette Louisiana Facility

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ANOTHER NIAGARAworldwide liquidation that proves the theory of association.

Strong Networking, Direct Marketing and a Team of Experienced Sales People allow for another NIAGARA Worldwide liquidation.

Burdette Wilber through GW Associates and NIAGARA Worldwide is working in conjunction with Thomas Pabst, a truly experienced professional in the liquidation, asset recovery business, to maximize results for another satisfied customer.

Information about Thomas Pabst’s:

An innovative, results oriented operational and financial leader with a consistent history of increasing productivity and profit. Excellent investigative, analytical, planning and team building skills. Proven ability to identify profit opportunities and drive their achievement.

Ongoing Events

TIMED EVENT – ENDS JUNE 30

ONLINE AUCTION: Generator, Marine Equip, Trucks, and More

Lafayette, LA

Download Auction Postcard (PDF) Download the Gulf Fleet Lotbook (PDF)

Special operations of HYPERams

  • Deal structuring and contract negotiation.
  • Asset disposition for maximum return.
  • Team building and recruiting top quality team members.

Thomas Pabst’s Experience

President – HYPERams, LLC

Investment Management industry
November 2010Present (8 months)
HYPERAMS is an entity that invests in asset disposition transactions and other related distressed investment opportunities. Asset classes range from inventory to loan portfolios, and we can sell such assets through a variety of methods. HYPERAMS will concentrate its business on principle positions of any size.

295 Motors SOLD! NIAGARA Worldwide pegs another great sale!

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Written June 24th, 2011 – NIAGARA Wisconsin

From the NIAGARA Development project site in Niagara Wisconsin, Eric J. Spirtas and Burdette Wilber negotiate, prepare and hold another e-auction that has clearly satisfied the seller and the buyers.

The key to designing a successful auction (“Live or On-Line”) requires the knowledge of an experienced auctioneer.  Lot sizes, location, blend of goods, length of sessions…  These decisions are not guesses, but more so proactive strategic determinations that come from years industry exposure.  


A smart customer and a smart liquidator make for a smart auction…  The process is not magic.  There are many ways to fail, but in most cases there are a few ideal paths to success.

A customer must always beware of the (“guarantee”).  There is no such thing, unless the auctioneer is putting up cash to buy the lot at a base number, or truly bonding the results.  Most times the “hustling” liquidator is trying to play on the perceived dollar signs in the eyes of his customer.  

As NIAGARA Worldwide closes another sale, it is important to reflect on the points that aid in running a successful auction.

10 Points on How to Run A Successful Auction!

  1. Because your auction is of a specific nature it is imperative to select an auctioneer that is ideally suited to this type of Auction. For example, a Fine Art Auctioneer is not always the person to select when conducting a charity auction which may include sporting memorabilia and assorted items that have been donated.
    The success of your auction often depends on the ability of the auctioneer and his knowledge of the type of goods being submitted to auction. The hype and spontaneous activity that comes with these types of auctions requires certain qualities such as a quick wit, an ability to “get on with it” and sell for extended periods at a fast pace. Alternatively, more refined auctions such as Fine Art calls for an auctioneer that displays a good level of patience and decorum. Selection of the most suitable auctioneer is sometimes understated and many auctions fail to reach the desired results and standards because of poor selection.
  2. Much credence should be given to the selection of the Auction venue when organising your auction. The venue should reflect the quality and type of auction being held in order to achieve your maximum result. When conducting an auction it is often difficult to judge the projected size of the crowd and therefore the crowd catering in relation to seating and general hospitality is dependant on these factors. It is very important that potential purchasers have the necessary access to auction items in order to ascertain their value and suitability to their needs. Special emphasis should be placed on the venue because too much room or too little room at the wrong venue will be counterproductive to the success of the auction.
  3. Sufficient advertising and promotion of your auction is absolutely critical to it’s success. Select the best possible advertising mediums to expose your specific auction and attempt to reach the target market by way of these mediums. Very careful consideration needs to be given to the target market when deciding on the most suitable advertising campaign. Depending on the type of auction, the time and value of the campaign can vary quite substantially but it is important not to under expose the auction if you wish to maximise the financial result. Having a strong, qualified crowd of buyers goes a long way towards success.
  4. Ensuring that sufficient, trained staff are engaged to assist in all facets of the auction process is very important. The presence of relevant staff members in areas of registration, presentation of items, acceptance and delivery of auction items etc is a critical component of a successful auction.
  5. When conducting an auction of any type it is imperative that the auction items are presented to the public in the best possible condition. In an ever-increasing competitive world, pristine presentation will strongly enhance a seller’s chances of achieving a good price for their auction items. Attention to detail in presentation is sure to be rewarding.
  6. An important part of the auction process is to provide a number of payment options to satisfy the needs of the buying public. These days acceptable methods of payment at the most auctions are cash, personal cheque, bank cheque and various forms of credit card options. Auction items will normally remain on site until full payment is received unless alternative arrangements are made prior to auction. It is important for the auctioneer to make everyone aware of auction payment conditions prior to commencement of the auction.
  7. To continue the smooth operation of the auction process it is important that buyers are able to take delivery of their auction purchases with a minimum of fuss. Trained staff will assist with efficient delivery of items once payment has been made. Safe delivery is an important part of the process.
  8. Re-enforce the absolute necessity to receive full payment for auction items prior to collection by buyers. Failure to enforce the payment policy can be a financial disaster. History tells us that a soft approach in this area of the auction process often leads to moral and financial disappointment.
  9. When formalizing an agreement with an auctioneer it is important to discuss the financial settlement arrangements once the auction is completed. Once again, depending on the type of auction being conducted, the auctioneer (or his agency) will collect the auction proceeds and, in turn, disperse the proceeds to the relevant recipients. Normal deductions prior to release of funds to the seller will include Agents Commission and Advertising.
  10. The information obtained from Buyer Registration forms will provide invaluable contact details for future auctions. The growing of your database of potential purchasers can lead to the ongoing support and success of your auctions for many years to come.

    (“10 Points on how to run a successful auction are a reprinted from find an auctioneer.com.au”)

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Eric J. Spirtas – 314.780.3742 – eric.spirtas@niagaraworldwide.com