Midwest
Equipment Recovers Asset Costs for Miller Brewing
CHICAGO, IL/PRWEB/July
14, 2006 --- Miller Brewing, one of the largest
beer manufacturers in the world, owns and operates
several breweries across the United States. During
the ongoing course of its operations, Miller often
upgrades its capital equipment assets and
decommissions older equipment. It is a continuous
challenge for manufacturers to recover value for
older equipment that is either sitting in a
warehouse or bone yard and may still have market
value. As part of Miller's efforts to improve
asset utilization and recover costs, Miller hired
Midwest Equipment to help with the liquidation of
surplus assets at its breweries.
In March of 2006, Midwest Equipment marketed
assets from Miller's Milwaukee Brewery to buyers
throughout North America and Europe. During the
liquidation process, prospective buyers were asked
to submit competitive bids to Midwest on Miller's
behalf in order to purchase the surplus assets
from the Milwaukee Brewery. In contrast to other
liquidation services, Midwest includes the
valuation-appraisal of equipment at no additional
costs. According to Andrew Turner, Midwest
Equipment's president, "We are here to serve our
clients and believe that manufacturer's should not
have to pay for valuations associated with
liquidations when there is significant value
already in the assets that will be liquidated."
The valuation helped Miller to understand the
market prices of its assets.
As a result of utilizing Midwest Equipment's
liquidation service, Miller gained greater
exposure to buyers, relieved the burden of using
internal labor resources to sell used equipment
and sold its brewery assets for approximately 60
to 70% more than it could have on its own. Because
Midwest Equipment maintains relationships with
surplus equipment buyers on a ongoing basis, the
liquidation of Miller's Milwaukee Brewery assets
was executed smoothly and quickly.
About Midwest
Equipment
Midwest Equipment is a privately held company that
buys, sells and trades surplus manufacturing
machinery. The company is a nationally certified
diverse supplier and seeks out both traditional
and entrepreneurial business opportunities in its
key and extended industries. Midwest Equipment
prides itself on providing its customers and
clients with value-added services that positively
impact their bottom line. By having unrestricted
discretion in seeking, building and participating
in business opportunities, Midwest Equipment
provides its partnership and alliance portfolio
companies with the necessary tools for success.
For additional information about Midwest
Equipment, please visit:
http://www.midwesteqt.com/CONTACT:
Andrew Turner Midwest Equipment,
LLC
319 West Daisy Circle Romeoville, IL 60446
PHONE. (815) 577-9300 FAX. (815) 230-9586
EMAIL: andrew@midwesteqt.com http://www.midwesteqt.com
KEYWORDS:
surplus machinery, used equipment dealer,
equipment broker, machinery auctions, equipment
liquidation, Midwest Equipment, equipment leasing
broker, used manufacturing equipment
