PR Newswire

Receivership Auction of Mafic USA LLC

ROCKINGHAM, N.C., July 26, 2023 /PRNewswire/ — On August 22, 2023, Iron Horse Auction Co., Inc. of Rockingham, NC will conduct a two-part sealed bid auction of essentially all assets of Mafic USA LLC.

The assets include a state-of-the-art 45,780 +/- sq. ft. basalt manufacturing facility on 5.09 +/- acres and an adjoining 7.59 +/- acre tract. The facility is located at 119 Metrolina Dr., Shelby, NC 28150. Personal property included in the sale consists of all machinery & equipment related to basalt fiber production, platinum & rhodium bushings/loose metals, basalt rock inventory, and basalt fiber inventory.

The North Carolina Business Court appointed Richard S. Wright of Moon Wright & Houston, PLLC as general receiver for Mafic USA LLC on May 11, 2023. The receiver retained Iron Horse to conduct an orderly liquidation process.

Will Lilly, an executive with Iron Horse states, “It is a great honor to represent the Receiver in this very important transaction. We feel the custom-tailored orderly liquidation process is a rare opportunity to purchase a basalt plant that could be put in operation much faster than a startup project. The facility is truly a state-of-the-art basalt fiber manufacturing facility that has already gained the interest of international parties active in the industry.”

For further information about the sale process, go to ironhorseauction.com/auction/mafic-68144/details or call: 800-997-2248.

For interviews, contact:
Will Lilly +1-704-985-9300 or
will@ironhorseauction.com 
Iron Horse Auction Company, Inc.
174 Airport Road
Rockingham, NC 28379
910-997-2248
www.ironhorseauction.com

Cision View original content:https://www.prnewswire.co.uk/news-releases/receivership-auction-of-mafic-usa-llc-301886289.html

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