Bob Chapman, Risk Reduction Manager, Delphi Global Supply Management
"...Just a quick note of thanks to everyone at Hilco for the hospitality and professionalism shown to us throughout the sale of the QC Onics assets. I truly appreciated your time and the efforts put forth to make this happen and support us during the process... Looking forward to our paths crossing again in the future."
Tony E. Kallsen, Vice President, National City Bank
"...In my capacity as manager of Special Assets, I have participated in numerous liquidations. Hilco's professionalism and efficiency exceeded my expectations. Hilco responded promptly to the bank's needs before, during and after the auction. The auction was conducted professionally and I was very impressed with the quality of the on-site staff. Thanks again for all of your efforts..."
David L. Rasmussen, President, Progressive Die & Automation
"...Sending this letter your way to say thanks for all you and your team have done to help us liquidate our tool and die building and our mold building company. The information Hilco provided to me in the beginning proved to be accurately done and made our projections in the end very close. The auction... was very professional and I recieved many comments at the auction and after also. Feel free to use this letter as a testimony of the results of our doing business together and I would be willing to talk to any potential customers or clients you might be working with in the future."
Kenneth D. Newton, Sr. Vice President and Chielf Operating Officer - Equipment, A.B. Dick
"A.B. Dick would like to express our appreciation to you and your staff for the excellent work done by Hilco Industrial on facilitating the sale of our excess manufacturing equipment. All Hilco staff members were professional and prepared to represent A.B. Dick in the sale of our assets. The preparation and clean up work done prior to the sale was a tremendous help to us and greatly improved the proceeds of the sale. The marketing arm of your company also did a quick and professional brochure representing the equipment in its best light. Your auctioneers worked the attendees to maximize every sale amount. It was clear that they felt responsible for making sure A.B. Dick achieved the highest price that the market would offer. Please accept my gratitude for Hilco's outstanding efforts on our behalf. Also pass our appreciation on to your staff."
Client Testimonials
"As the point person for Homelife, I want to thank you and your team for a job well done. Your folks were courteous, professional, and easy to work with, and to top it all off, auction proceeds exceeded initial estimates by over 50%. In short, should I find the need for asset liquidation services in the future, without reservation I would go with Hilco."
--- Peter Nero, Vice President, Operations
Homelife Furniture Corporation
"...I want to express our appreciation for the excellent results your company achieved in conducting the auction of Foster & Gallagher's furniture, fixtures and equipment. Considering the amount of product available on the market in this category, your results were exceptional. Further, your staff's professionalism in responding to our request for bid, preparation and sale of the over 4,000 lots, the marketing of the auctions, and the actual auction exceeded our expectation. Please pass our compliments on to your team."
--- Lawrence M. Adelman, Managing Director
AEG Partners LLC
"Sending this letter your way to say thanks for all you and your team have done to help us liquidate our die building and our mold building company. The information Hilco provided to me in the beginning proved to be accurately done and made our projections in the end very close. The auction that was conducted on May 20 and May 21 was very professional and I received many comments at the auction and after also. Feel free to use this letter as a testimony of the results of our doing business together and I would be willing to talk to any potential customers or clients you might be working with in the future."
--- David L. Rasmussen, President
Progressive Die & Automation/Quality Die & Mold
"In my capacity as manager of Special Assets, I have participated in numerous liquidations. Hilco's professionalism and efficiency exceeded my expectations. Despite the small size of the company, you were able to draw a large audience. The auction was conducted professionally and I was very impressed with the quality of the on-site staff. Post-auction service was also excellent. The landlord was comfortable with your crew and had no complaints about the condition of the facility. Thanks again for all your efforts."
--- Tony E. Kallsen, Vice President
National City Bank
Ex-Wohlert workers watch as tools sold off
108-year-old plant casualty of tailspin in manufacturing
Stefanie Murray/Lansing State Journal
The tool room at Wohlert Corp. was eerily neat when Clark Kintigh saw it Thursday. The nuts and bolts were sorted and labeled. The machines were clean. He had never seen it that clean.
The hulking structure where Kintigh spent so many years is now an empty industrial spot - one of many in Lansing, where more than 30 percent of manufacturing sites sit idle, according to commercial real estate company CB Richard Ellis/Martin.
On Thursday, the last of Wohlert's machines were sold at an auction, the latest step in the company's bankruptcy proceedings.
Wohlert represents about 250 of the [many jobs lost in the Lansing area in the last six months]. The company filed for bankruptcy last year and shuttered its Lansing plant in January after 108 years of making ring gears, flexplates, flywheel assemblies and welded rings for the auto industry.
About two dozen former Wohlert employees visited the auction to reminisce, see who would buy their old machines and maybe buy something themselves.
Machines had been unplugged and dragged away from the walls for display. In better days, they had been bright green - now, most were darkened by soot.
Jerry Bidelman, 53, of Lansing was one of three workers who stayed to clean after the plant was closed.
The auction was run by Illinois-based Hilco Industrial LLC.
Auctioneers Michael Pitts and Stephan Wolf stood at a blue podium on a steel cart, rapidly calling out bids.
Assistants pushed their cart from machine to machine throughout the day, and the crowd of bidders - some toting briefcases, others carrying hot dogs from the concession stand - trailed behind.
It took only a minute to sell most items, although there were a couple of bidding wars, Wolf said.
Because scrap metal is so valuable now as steel prices soar, many bidders will most likely use the machines for scrap instead of re-use.
"It's because of their age," Wolf said. "Some equipment would cost more to move than to buy."
Both auctioneers expect some machines to go overseas. "A lot of this stuff may go to India," Pitts said.
Others thought a little less of the old equipment.
"There's a lot of great boat anchors in here," said Sean Quick, an accounts representative for Wendt LLP, an Indiana moving firm.
All the purchased items - from garbage cans to desks to heavy welding machinery - will have to be moved out in two weeks.
Next to be sold will be the building, which is 156,400 square feet and listed at $900,000, according to CB Richard Ellis/Martin.
The money from the auction and the building will be used to pay some of Wohlert's 790 creditors.
--- Lansing State Journal
March 26,2004
