Hilco Industrial in big ME expansion
Illinois (US), April 10, 2013
Hilco Industrial, a key provider of industrial asset disposition services based, has entered into a joint venture deal with Dubai-based ValuStrat to help the two companies co-manage surplus industrial asset disposition projects in the GCC, Lebanon, Jordan, Pakistan, Egypt and Iraq.
A US-based specialist in machinery, equipment and inventory auctions and negotiated sales, Hilco has been doing business in the Middle East region as HilcoValuStrat, and ValuStrat doing business as ValuStrat Consulting and JAJ Consultants in the Middle East,
Daniel Gray, the managing director of Hilco Industrial’s operations in UK, Europe said, “ValuStrat’s significant presence and long-standing tieups in Middle East, combined with Hilco’s global asset monetization capabilities, provide a solid foundation for the new JV to help firms and governments maximize recovery value on machinery, equipment, vehicle fleets, industrial inventory and realestate.”
Founded in 1977 as JAJ Engineering, the ValuStrat group provides strategic advisory, management consulting, valuation and asset advisory services to a large and diversified number of corporate clients in the Middle East.
On the new joint venture, Shahid Umerani, the chairman of ValuStrat said, “Owing to our company’s extensive experience in industrial consulting, including valuation and technical due diligence of industrial assets, this new relationship with HilcoValuStrat will provide a natural and value-added extension to our services by enabling us to actively assist our industrial clients in divestment or acquisition of used plants and machinery through their extensive global disposition network.”
Jeffery Hecktman, the chairman and CEO of Hilco Trading, said “This is is another example of how Hilco continues to grow and expand our operations around the globe, solidifying our reputation as the world’s pre-eminent authority on helping customers maximize the value of their assets.”
In February, Hilco recently announced the additional expansion of operations in the Asia Pacific - Greater China regions with the opening of a new office in Hong Kong to join the previously added offices in Singapore and Thailand.-TradeArabia News Service