Included in the sale, which will take place between 10 a.m. and 5 p.m. EST, is the factory itself, production equipment, office furniture and fittings, IT products and a multi-million dollar spare parts inventory.
In the event of a bulk sale of the company the successful bidder will have the option of extending the lease on the manufacturing plant.
The sale is subject to final approval of US Bankruptcy Court, Case Number 11-37366-CGM.
Final bids for the sale of SpectraWatt, be it in bulk or piecemeal, must be approved by the US Bankruptcy Court; such final approval is currently scheduled to take place on October 6, 2011.
The location and equipment will be open for inspection by potential buyers on 26 and 27 September. The auction is being conducted by Heritage Global Partners, Counsel RB Capital and Silicon Valley Disposition.
For additional information:
