FREMONT, Calif. & WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Counsel RB Capital Inc. (OTCQB: CRBN) (the “Company”), a leader in distressed and surplus capital asset transactions, today announced two upcoming auctions of remaining surplus capital and manufacturing assets of Solyndra, a former leader in the solar panel manufacturing industry. These auctions are scheduled for December 13-14, 2011 and January 25-26, 2012.
The December event will feature a two-day auction of non-core assets and the January auction will include Solyndra’s main manufacturing assets, pending final order of the U.S. Bankruptcy Court. In November, a non-core asset auction sale was held and managed by the Company on a commission basis in partnership with auction house Heritage Global Partners, following Solyndra’s bankruptcy proceedings.
“We have achieved several key milestones in 2011, including the expansion of our infrastructure and operations which provides a platform for future growth and further progress against our strategic plan to build a diversified and scalable full-service organization for clients seeking capital asset solutions,” stated Counsel RB Capital Co-CEO Jonathan Reich.
“With our auction partners at Heritage Global, we successfully sold a portion of Solyndra’s surplus and non-core production assets and inventory at an auction held last month. We expect online and in-person bidders at the mid-December auction to purchase Solyndra’s remaining non-core assets. Pending final order of the U.S. Bankruptcy Court, we will be holding a third auction in late January, which will include state-of-the-art solar energy manufacturing equipment,” added Adam Reich, Co-CEO of Counsel RB Capital.
Solyndra (Leading Solar Panel Manufacturer) Auction #2
Live On-Site and Webcast Global Auction details (all times PT):
- Key assets: finished goods Solar Panels, personal computers, flat panel monitors parts inventory, manufacturing equipment, etc.; further details available at www.hgpauctions.com
- Public inspection and preview: December 12, 9:00 a.m. to 4:00 p.m.
- Auction: Starting December 13 at 7:00 a.m. and ending December 14 at 8:00 a.m.
- Location: 901 Page Avenue, Fremont, CA 94538
- Contact: David Barkoff (HGP Auctions), dbarkoff@hgpauction.com or +1 (650) 649-0147
Solyndra (Leading Solar Panel Manufacturer) Auction #3
Live On-Site and Webcast Global Auction details (all times PT):
- Key assets: Solar Panel manufacturing equipment, etc.; further details available at www.hgpauctions.com
- Auction: Starting January 25 at 9:00 a.m. and ending January 26 at 5:00 p.m.
- Location: 47488 Kato Road, Fremont, CA 94538
- Contact: David Barkoff (HGP Auctions), dbarkoff@hgpauction.com or +1 (650) 649-0147
About Counsel RB Capital (www.counselrb.com)
Counsel RB Capital Inc. (CRBN) is a value-driven, innovative leader in distressed and surplus capital asset transactions. The Company focuses on identifying, acquiring and monetizing distressed and surplus capital assets. It specializes in acquiring turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.
Forward-Looking Statements
The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company's securities and other regulatory filings.