No trouble at mill with specialist North Lincs auctioneers on site
Top North Lincolnshire-based industrial auctioneers CJM Asset Management have been brought in as part of the team handling the multi-million pound disposal of plant and machinery at one of Britain’s most historic industrial sites.
The Hollins Mill at Darwen in Lancashire began manufacturing high quality paper in 1844 – on a site that had an industrial history dating back to the 14th century.
The mill closed earlier this year and the consortium that now owns the site has instructed CJM and London-based Industrial Asset Solutions to sell off the machinery and equipment ahead of the redevelopment of the 37 acres of land on which it stands.
Most of the paper mill’s equipment is to go under the hammer in a major online auction in mid-November (14th & 15th). Meanwhile the two papermaking lines and the de-inking plant are to be sold separately by private treaty in a deal expected to make around £2.5 million.
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CJM Managing Director Charles Moses said: “The Paper-making industry is diminishing significantly in the European Union countries. The process requires substantial amounts of energy to produce a relatively low value product and compliance with EU pollution legislation makes it an expensive process compared with elsewhere in the world.”
“We’re certain that the big stuff - the papermaking lines and the de-inking plant - will be going outside Western Europe. We have already had contact from potential buyers in South East Asia, India, North Africa and Russia. We’re also fielding further enquiries pretty much on a daily basis.”
He added: “The first stage of the disposal - the auction - will extend to over a thousand lots, covering a huge quantity of general spares, materials, stores and machine tools; everything that a big industrial complex needs to operate. It will also include a range of high capacity steam-raising boilers and two very large Caterpillar gas engine generators that were used to provide power if the grid could not supply it.”
“The auction is expected to raise £300,000 to £400,000.”
“The big assets - the two papermaking lines and the de-inking plant, used to clean up recycled materials - are to be sold separately by private treaty because of the nature and complexity of the investment the buyers will be making.”
“They are expected to sell for around £2.5 million but that’s just the start of the process. The buyers have to dismantle and remove the plant, ship it to wherever it is going and rebuild and re-commission it. They are probably looking at a total investment of around £20 million.”
“We’ve got a six month timescale and at this stage we’re looking to find a single buyer for both lines and the de-inking plant.
"If we cannot do that then we will look at selling them separately.”
Viewing sessions for the auction are to take place at the site next Monday and Tuesday (November 12 and 13).
Because of the size of the event, the online auction using the BidSpotter platform - www.bidspotter.co.uk - will be spread over two days, Wednesday and Thursday, November 14 and 15.