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

LTAI Selects HGP and Cloud to Conduct the Sale on behalf of E-Auctions

SAN DIEGO & DUBLIN - Saturday, March 29th 2014 [ME NewsWire]

Global Online Auction Runs April 30 to May 1

(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.


Contacts
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









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