{"id":8128,"date":"2016-11-01T19:25:36","date_gmt":"2016-11-01T19:25:36","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=8128"},"modified":"2016-11-01T19:25:36","modified_gmt":"2016-11-01T19:25:36","slug":"cranes-trucks-and-trailers-mcaleese-group-assets-up-for-grabs-in-australia","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/cranes-trucks-and-trailers-mcaleese-group-assets-up-for-grabs-in-australia\/","title":{"rendered":"McAleese Group assets up for sale in Australia on GraysOnline.com; $50 million AU dollars worth of cranes, trucks and trailers"},"content":{"rendered":"
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Cranes from collapsed transport group McAleese<\/a> could be shipped as far as Europe, the Middle East, and the Americas after trucks, trailers and lifting equipment (cranes) were put up for sale by GraysOnline<\/a>.<\/p>\n

The online auction group has been hired by McAleese administrators McGrathNicol to sell vehicles, cranes and office equipment<\/a> from the company’s heavy haulage and lifting division after it went into administration in late August.<\/p>\n

Andrew Cotton, who is managing the sale for GraysOnline, said demand for transport equipment was “reasonably strong” because it could be used in several industries, including construction and agriculture.<\/p>\n

“We think there’s enough scope in the market to sell all of this equipment,” Mr Cotton said.<\/p>\n<\/div>\n

\u00a0There was a large market in Australia for the trucks and trailers, and McAleese’s cranes are expected to appeal to overseas buyers, including Europeans, Mr Cotton said.<\/div>\n
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“With those large capacity cranes, it truly is a global market,” he said, adding that while demand for cranes in Australia had dropped following the resources slump, they were needed by other countries that had more project activity.<\/div>\n<\/blockquote>\n
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\"mcaleese-industrial-lp-img1\"<\/p>\n

Sale may not be enough<\/strong><\/p>\n

More than 100 trucks and more than 250 trailers are being sold, as well as more than 50 cranes. McAleese’s equipment is scattered in cities around the country, including Mackay, Perth and Adelaide.<\/p>\n

Before going into administration<\/a>, McAleese had taken impairments on equipment in its heavy haulage and lifting division due to falling demand for its services from the resources sector, market over-capacity and a weak pipeline of new projects.<\/p>\n<\/div>\n

McGrathNicol are selling off some of McAleese’s assets, but are evaluating whether the company will be able to restructure via a deed of company arrangement, if one is formally proposed by chief executive Mark Rowsthorn and Hong Kong investment group SC Lowy. \u00a0The administrators have until the end of March to hold a second meeting of creditors and propose the best option for the transport group, which may be liquidation if a satisfactory restructuring plan does not emerge.<\/div>\n
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If McAleese does go into liquidation, sale proceeds from trucks and cranes could also be less than their book value and may not be enough to cover its debts.<\/p>\n

Mr Cotton said the McAleese brand was well known in the transport industry and the equipment disposal was “one of the most anticipated sales in recent times”. The multimillion-dollar sale process, which will include direct sales and auctions, is expected to take around four months.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Cranes from collapsed transport group McAleese could be shipped as far as Europe, the Middle East, and the Americas after trucks, trailers and lifting equipment (cranes) were put up for sale by GraysOnline. The online auction group has been hired by McAleese administrators McGrathNicol to sell vehicles, cranes and office equipment from the company’s heavy […]<\/p>\n","protected":false},"author":1,"featured_media":8129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,3,4,9,12],"tags":[134,609,1040],"yoast_head":"\nMcAleese Group assets up for sale in Australia on GraysOnline.com; $50 million AU dollars worth of cranes, trucks and trailers - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/cranes-trucks-and-trailers-mcaleese-group-assets-up-for-grabs-in-australia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McAleese Group assets up for sale in Australia on GraysOnline.com; $50 million AU dollars worth of cranes, trucks and trailers - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Cranes from collapsed transport group McAleese could be shipped as far as Europe, the Middle East, and the Americas after trucks, trailers and lifting equipment (cranes) were put up for sale by GraysOnline. 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