Heritage Global Partners and Cloud Investment
Partners to Manage the Sale of Lufthansa Technik Airmotive Ireland (LTAI)

Posted by | March 28, 2014 | Uncategorized | No Comments

Heritage Global Partners and Cloud Investment Partners to Manage the Sale of Lufthansa Technik Airmotive Ireland (LTAI) Dublin Plant Assets

LTAI Selects HGP and Cloudto Conduct the Sale on behalf of E-AuctionsGlobal Online Auction Runs April 30 to May 1

SAN DIEGO & DUBLIN, Mar 27, 2014 (BUSINESS WIRE) — Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (otcqb:HGBL), today announced that it is collaborating with Cloud Investment Partners , a global organization with expertise in the aerospace industry, to manage a global online sale featuring the entire assets of the Lufthansa Technik Airmotive (LTAI) Plant in Dublin, Ireland. Per the instruction of LTAI, HGP and Cloud are conducting the sale on behalf of Irish based Auctioneering Company, E-Auctions . LTAI refurbished jet aircraft engines at this location.

Lufthansa Technik Airmotive Ireland Auction April 30, 2014 ( 9 am GMT ) May 1 ( 5 pm GMT ) Sale Preview: April 29 (LTAI Plant – Naas Road, Rathcoole, Co. Dublin, Ireland) 9 am – 4 pm (local time)

Key Assets Include:

  • Huge Inventory of LLP, Non LLP, and Expendable Engine parts
  • Engine Test Cell with Tooling, Bellmouths, Fixtures, etc.
  • Complete Tooling sets for CFM56-3 & JT9D
  • Complete Machine Shops
  • Generators
  • Borers
  • Milling Machines
  • Schenk Balancing Machines
  • Steel Framed Portable Building
  • Relocatable Office/Canteen Buildings
  • IT Equipment
  • Office Furnishings

“Our sale of LTAI’s assets features a wide range of engineering, inspection, test equipment, works transport, and many more items ideal for organizations in aerospace or other manufacturing industries. We are also selling assets that can be utilized by any number of companies or individual buyers including furniture and IT equipment,” stated Ross Dove, Managing Director, Heritage Global Partners.

David Weiss, Partner of Cloud Investment Partners, stated, “Heritage and Cloud Investment Partners successfully sold other Engine MRO assets including AVEOS and LTQ (Lufthansa Qantas JV) in the last 18 months. We are pleased to have the opportunity to maximize the value of Lufthansa’s Irish Facility assets.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

SOURCE: Heritage Global Partners

Chris Matthews, +44 753 845 9839 cmatthews@hgpauction.com David Weiss, 561-266-0845 x119 david.weiss@cloudlllp.com Kieron Gammell, +353 45 883 554 kgammell@e-auctions.ie Rob Rinderman, 212-835-8500 HGP@jcir.com

Copyright Business Wire 2014

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