InductaMetals LP
Contact: louis Berger
101 W. Grand Ave
Chicago, IL 60610
U.S.
Phone: 312-467-1031
Fax: 312-467-1049
Out of business Novemeber 13th 2004
AUCTION
ASSIGNEES SALE
PLEASE TAKE NOTICE that on Tuesday, December 21, 2004 at the hour of 10 a.m. in the office of High Ridge Partners, 140 S. Dearborn St., Suite 820, Chicago, Illinois, Ms. Nancy A. Ross as Assignee for the Benefit of Creditors of InductaMetals, LP ("IDM") will hold a public auction to offer for sale, at that time, as a single item, or in separate lots as set forth below, all of the owned assets of IDM, including, but not limited to, accounts receivable, inventory, machinery and equipment, patents, copyrights, trademarks, and trade names.
IDM is a privately held limited partnership with its corporate offices located at 101 W. Grand Avenue in Chicago, IL that owns and exclusively employs a market-leading technology. The process metallurgically bonds a specified, protective metal alloy to the inner surface of a metal tube (typically steel). The result is a bi-metallic tube with a lining that is highly uniform in its composition and its thickness. This gives it increased durability. Both the process and apparatus to achieve the process are patented. The company operated out of a 40,000 square foot facility in Germantown, WI.
The assets specifically exclude, among other items, cash, stock, certificates of deposit, bonds, notes, all debtor deposits, all insurance policies of the debtor, all insurance proceeds or refunds due to the debtor, insurance policies and insurance proceeds or refunds, debtors Minute Book and all other corporate, auditor, accountant, consultant, and tax records, all tax refunds due to the debtor, all leased assets, and consignment inventory. Bids made be made either for all of the assets ("Entirety") or for separate lots of "Intellectual Property," "Machinery and Equipment," or "Inventory."
For the Entirety of the assets, all bidders will be required to post the greater of $50,000.00 or 10% of the bid amount in available funds or a bank letter of credit to bid at the sale. For the separate lots of "Intellectual Property," "Machinery and Equipment," or "Inventory," all bidders will be required to post the greater of $20,000.00 or 10% of the bid amount in available funds or a bank letter of credit to bid at the sale, for each lot bid on.
The Assignee reserves the right to value all bids, and determine which bids may be higher and better, based upon all relevant factors, in her sole discretion. The Assignee also reserves the right to withdraw all or any portion of the property of IDM for any reason whatsoever. The auction may be continued without further notice. Additional terms and conditions may be announced at the sale.
Please be advised that the assets to be sold in this sale are being sold on an "as is, where is" basis with the Assignee generally offering no representations or warranties as to the value of the assets, their fitness for a particular purpose, their merchantability or other matters.
Prospective bidders may contact Ms. Nancy A. Ross, Tina Hughes or Frank S. Wojtowicz of High Ridge Partners to obtain additional information with respect to the assets, to arrange an inspection of the assets in Germantown, WI, or as it relates to the sale.
Assignee for the Benefit of Creditors Attorneys for
of InductaMetals, LP InductaMetals, LP
Nancy A. Ross James A. Chatz
HIGH RIDGE PARTNERS ARNSTEIN & LEHR LLP
140 S. Dearborn St., Suite 820 120 S. Riverside Plaza, Suite 1200
Chicago, Illinois 60603 Chicago, IL 60606
312-456-5636 312-876-7100
