Wide Variety Of Assets Available During Webcast Auction Of Solar Mirror Manufacturer

--Tiger Group's Dec. 17 auction appeals to solar, glass and general manufacturing companies

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Dec 03, 2013, 09:30 ET

CLINTON, Pa., Dec. 3, 2013 /PRNewswire/ -- Tiger Group's Remarketing Services Division is liquidating the assets of a solar mirror manufacturing plant in the Pittsburgh area owned by the bankrupt Flabeg Solar U.S. Corp. Late-model solar glass bending and coating lines, handling and transfer systems, rolling stock, facility and office equipment are among the assets available for sale at the onsite and live webcast auction scheduled for Dec. 17. Tiger's sale is being conducted by U.S. Bankruptcy Court Order.

The 228,000-square-foot facility at 2201 Sweeney Drive in Clinton, near Pittsburgh International Airport, opened in October 2009 and was shuttered in late-March 2013 following a slowdown in the solar energy industry. An involuntary Chapter 7 filing by creditors of Flabeg Solar U.S. Corp. was made in April 2013 in the Pennsylvania Western Bankruptcy Court (case number 2:13-bk-21415).

"In addition to global solar companies, a variety of regional manufacturers and local businesses will be interested in the diverse assets offered in this auction," said Jeff Tanenbaum, President of Tiger's Remarketing Services Division. "These range from robotics and conveyors to glass washers and grinders, material handling equipment, facility equipment, laboratory equipment, high-end office furnishings, and net/server equipment."

Scheduled for 10:30 a.m. (ET) on Dec. 17, the onsite and live webcast auction on BidSpotter.com will offer two glass bending lines and associated handling and transfer systems; a water jet cutting system; coating and bonding lines; and facility equipment that includes a Cummins backup diesel generator, rotary air compressors and forklifts. Warehouse and support, networking and telecom equipment will also be up for bid, along with office furniture, furnishings and equipment.

The equipment will be available for preview on Dec. 14 and 16, from 9 a.m. to 4 p.m. (ET), and at other times by appointment only. For a full description of the offering and details on how to schedule a site visit and bid, visit: www.SoldTiger.com.

About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger operates main offices in Boston, Los Angeles and New York. To learn more about Tiger, please visit www.TigerGroup.com.

SOURCE Tiger Group