Touchton Industries Machine Shop Equipment Assets for Liquidation Auction

. May 26, 2010

Abal Auction Real Estate (www.abalauction.com) announces the online auction liquidation of equipment assets of Touchton Industries in Jacksonville, Fla., according to Dr. Joseph Abal, auctioneer.

In a common theme, Touchton Industries of Jacksonville, Florida has closed its doors due to financial problems. The 100 year old company started by the Touchton Family in the late 1800’s provided manufacturing of over 650 different locomotive passenger, transit and freight components. It also serviced and remanufactured a wide variety of parts for the train industry and touted Union Pacific, Miami-Dade Transit, CSX Corporation, General Electric and Alaska Railway as its clients.

In the metro railcar division, it serviced and manufactured parts for the Los Angeles, Washington, D.C., and New York Transit Systems.

The company was sold by Frank Touchton in 2003 and a series of financial problems besieged the company.

The bank-ordered sale of all equipment assets is being handled by Abal Auction Real Estate of Tallahassee, Florida. Abal Auction Real Estate (AARE) is a full-service auction appraisal company, billed as a “brick and click” company. AARE has been involved in a variety of bankruptcy bank-related asset sales. Their auction sales experience has included food service, coffee shops, automotive-related businesses to heavy equipment facilities like Touchton Industries.

USPAP certified appraisers, Abal, and partner, Betty Evans, were originally retained to recertify a SBA appraisal of the facility. Months later the bank closed on the secured debt and enlisted the AARE team to auction all personal hard assets in the machine shop.

The auction will include Fadal, Mazak machining centers, lathes, Bridgeport, Jorgensen and more. Box lots include end mills, cutters and micrometers. Entire office centers including desks, computers, printers and telephones will also be auctioned.

The auction is an online timed event being auctioned at www.abalauction.com. The bidding is available online now on the website with a June 1 preview and inspection at the Touchton facility in Jacksonville. The sale concludes June 7, 2010 at 1:00 P.M. All questions can be directed to Abal Auction Real Estate at (850) 510-2501 or (850) 926-9160.

Category: Online Auctions

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