September 7, 2011 – On behalf of SpectraWatt, Inc., Heritage Global Partners along with Counsel RB Captial and Silicon Valley Disposition, will jointly conduct a live bulk and piecemeal auction of a 140,000 square-foot fully automated, Crystalline Silicon Solar Cell manufacturing and research facility. The approval of Trustee’s Motion to engage Heritage Global Partners is currently pending in the United States Bankruptcy Court for the Southern District of New York. Following approval, the auction will be staged on Wednesday, September 28, 2011 from 10 a.m. – 5 pm EDT via live global webcast at www.hgpauction.com and on location at the Hudson Valley Research Park in Hopewell Junction, NY.
The SpectraWatt location to be auctioned will be open for inspections for potential buyers to preview the offerings on September 26th and 27th, 9am to 4pm, or by appointment only.
In the event a Bulk Sale of SpectraWatt, Inc. is consummated, the successful bidder has the option to assume the existing lease on the 140,000 sq ft. facility at Hudson Valley Research and continue the operations in its existing production environment. The auction includes the facility, capital equipment as well as multimillion dollar spare parts inventory, office furniture and fixtures, IT and more.
“There is immediate expansion potential at this facility for any company who is at the ready to come in and capitalize on this state-of-the art facility and its existing equipment and inventory,” said Bruce Costello, VP Heritage Global Partners.
SpectraWatt is a U.S. based manufacturer of crystalline silicon solar cells focused on delivering innovative products of superior quality. The company’s state-of-the-art, fully-automated, cell manufacturing process along with extensive research and development capabilities meet the ever-growing needs of the solar industry.
Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners, is one of the country’s leading asset advisory and auction services firms, which assists large and small companies with buying and selling of assets. Heritage Global Partners offers asset brokerage, asset inspection, asset valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.
The SpectraWatt manufacturing facility is located at Hudson Valley Research Park at 2070 Route 52, Building 334, Zip 23A in Hopewell Junction, NY. For more information, please visit www.hgpauction.com.
Contact:
Stephanie Freedman, This e-mail address is being protected from spambots. You need JavaScript enabled to view it. , 248.797.9061