Bayer Asset Management:
Banwol, South Korea

The Client

EquipNet has been working with Bayer since 2004 to provide excellent service in asset sales and redeployments.  By utilizing our Asset Redeployment Management System (ARMS™), EquipNet has been able to generate over $150K in redeployment savings as well as $4 Million in sales for sites all over the world.

The Challenge

This project called for the clearing of 10 very large silos from a Bayer facility in Banwol, South Korea. From the start, EquipNet knew that this was going to be a difficult project to succeed with, so originally low expectations were set and the client was notified of this. Since the silos were so large, a portion of the roofing had to be cut and repaired in order to remove them from the facility properly.  An additional $25,000 would need to be allocated to do so, along with $60,000 for removal. The client asked if the $25,000 for the roof repairs could be included in the sale price for the silos, so EquipNet complied.

The Solution

The development of this project took place over a year and a half time span. EquipNet utilized their global partner who was able to find a potential buyer for the silos.  The buyer was willing to include the reconstruction of the roof as well as the removal costs within his offer to Bayer. With the help of their partner, EquipNet was able to successfully sell all of the silos within the designated time frame of late 2014, per Bayer’s request.

The Result

Although the silos did not sell for as much as projected, Bayer was still highly satisfied with EquipNet’s determination to ensure the best outcome in their selected time frame. EquipNet was able to successfully manage all ten of the surplus silos with the help of their global partners. With the original expectation that the equipment would not sell, EquipNet, their partner and Bayer were very proud of the success generated. The silos sold close to scrap value, but it covered the repairs needed for the roof after the removal process, and made both the seller and buyer very pleased.

Number of Assets

Equipment Categories

Project Management
Equipment Specialists

Interested in Learning More About Our Services?

Contact Us Today