The joint venture partner group of Rabin, CRG and PPL Group is selling assets from a paper mill formerly operated by Verso Corporation in Luke, Maryland.
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.
The timed online auction will take place on the 30th of August. Equipment available includes: converting facility featuring Jagenberg Bielomatic Synchro 400 65” wide paper sheeting line, MSK Flowtech heat seal overwrap system with robotic placer, Milltec 4-position 65” wide paper sheeting line (installed 2008), 2007 Guendler shredder with core cutter and GD air compressor set, Pemco auto feed slit paper carton packing line with Lantech wrapper, chiller system with Evapco cooling tower, Yale electric paper roll movers. Debarking and wood chip yard featuring double reel log de-barker system with hydraulic log pickers, complete CEM 1000 hp (approx.) wood chipping system, conveyor electrical control room, chip loadout building, substation transformer vaults. Voith wet pulper system, bleach plant, complete rotary lime kiln system and more. Assets can be inspected by appointment on the 29th of August.
Industrial and commercial auctioneer and liquidator Rabin was established in the early 1950s. The family-held firm has expertise in industrial liquidation for businesses across all trade sectors, specialising in the purchase of complete facilities and associated real estate.
Global private equity firm CRG has generations of expertise in creating liquidity for clients. CRG utilises a range of selling platforms – including live webcast auctions, online auctions and private treaty sales – to sell surplus and underperforming assets for clients across industry sectors.
PPL Auction is part of the PPL Group, leading experts in industrial liquidations and auctions. The firm has extensive experience selling assets ranging from specialised equipment to complete facilities and multiple plants.
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