Published in Manufacturing

Gill to auction manufacturing assets from pair of Grand Rapids locations

BY Monday, March 09, 2020 10:46am

GRAND RAPIDS — Tier 1 automotive supplier Gill Industries Inc. plans to hold a public auction of some of its manufacturing equipment next month, MiBiz has learned.

At least two 1,000-pound presses will be part of the “unprecedented” auction — which is valued in the millions of dollars, according to Maynards Capital LP, an appraiser and liquidator with operations in Southfield that will administer the sale. At least 10 of the metal stamper’s presses will be sold to the highest bidder, as well as machine tools, welding cells and robots. 

COURTESY PHOTO

The public auction, which is scheduled for 10 a.m., Tuesday, April 28, is the latest step in a string of recent restructuring efforts involving the company’s manufacturing plants and operations. 

Gill finalized a deal in January to sell its existing Bond Avenue plant to Spectrum Health for its planned $100 million Center for Transformation and Innovation, as MiBiz previously reported.

The company has since started to dissolve its operations at the plant, which will result in the loss of up to 59 jobs, according to paperwork the company filed with the state.

At the public auction, Gill will sell off presses and other machinery from the Bond Avenue NW facility and assembly assets from another manufacturing operation at Avastar Park on Alpine Avenue in Walker.

The company’s lease at the Avastar Park property will expire in 2021. Haviland Consumer Products Inc. bought the property last year and expects to use the facility for its own manufacturing operations once Gill moves out. 

Representatives from Gill and Maynards did not respond to request for comment for this report. 

Read 2921 times Last modified on Monday, 09 March 2020 10:54
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >