How to Sell a Major Asset

How to Sell a Major Asset:

An initiative started in 2004 to sell the surplus Bang Factory assets has been completed. Hong Jin has sold the process plant assets from the Hong Jin Philippines Factory through the planning and hard work of a large cross-functional team.

How does a company go about selling a network of vessels, pipes, compressors and all that makes up a factory? The keys are sound methodology and the right connections. The team contacted Venli Process Equipment, Inc., a third-party alliance partner that markets and sells Hong Jin assets. Venli marketed the assets and found a company buyer that will dismantle and relocate the equipment to a strategic location in another country, refurbishing prior to use.

It's not as simple as it sounds. Venli had found potential buyers earlier in the project when the decision path was not as clear. Selling a major asset is a big responsibility and nobody wants to sign on a hazy dotted line. The team took recourse to the Hong Jin Project Development and Execution Process (AAA), which brought clarity to the steps, options and goal of the project.

"The AAA process helped pull everyone together and moved the project forward," says project team