CRG, in partnership with Rabin and PPL Auctions, is selling a paper mill formerly operated by Verso Corporation.
Verso Corporation specialised in the manufacture of speciality and graphic papers, packaging and pulp. The closure of the firm’s paper mill in Luke, Maryland was announced in 2019 in response to a decline in customer demand for the grades of paper manufactured at the facility. Earlier this year BillerudKorsnäs completed their acquisition of Verso, making the firm one of the largest providers of virgin paper and packaging materials in North America.
The 3-day online auction will take place on the 1st, 2nd and 3rd of June. Day 1 of the auction features forklifts and heavy mobile equipment, day 2 features a huge inventory of spare parts and day 3, paper machinery and wood yard equipment.
Assets available in the auctions include: Wagner log loaders (models L-70, L-90S and L-90); Cat, John Deere, and Michigan wheel loaders; Barco model 595ML self-propelled knuckle boom 3 axle log loader; forklifts by Yale and Hyster; Clausing Colchester & American Pacemaker lathes; milling machines; radial arm drills; metal cutting saws; tool grinders; Miller & Lincoln gas driven, electric arc and wire feed welders; Voith wet pulper complete with bale destacker, buster and Sweed chopper; full bleach plant with titanium washers, vacuum and centrifugal pumps; complete chip yard with debarker, CEM chipper, conveyor and control tower and much, much more. The assets, located in Luke, Maryland, can be inspected on the 31st of May.
Global private equity firm CRG has generations of expertise in creating liquidity for clients. CRG utilises innovative solutions and a range of selling platforms – including live webcast auctions, online auctions, complete turnkey solutions and private treaty sales – to sell surplus and underperforming assets for clients across industry sectors.
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