Successful eAuction of Titanium Stripper Vessels from Tata Chemicals Ltd, Babrala, UP
valuejunction was approached by Tata Chemicals Ltd, Babrala (UP) to assist them in getting the best value by selling 2 of their Titanium Stripper Vessels. These vessels were not getting the expected price through repeated attempts made by the client.
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Industry: Chemicals
Geography: India
Client: Tata Chemicals Ltd, Babrala (UP)
Problem: Find the right buyers for specialized stripper vessels
Solution: eSale of Titanium Stripper Vessels through right buyer discovery
Results: A Good Price Realization: A 14% increase over the expected price
The Client:
Tata Chemicals is a global company with a range of business interests focusing on three sectors - living essentials, industry essentials and farm essentials. Tata Chemicals group is the world's second-largest producer of soda ash with a presence in India, Kenya, the UK and the US.
The idle asset under sale:
valuejunction was approached by Tata Chemicals Ltd, Babrala (UP) to assist them in getting the best value by selling 2 of their Titanium Stripper Vessels. These vessels were not getting the expected price through repeated attempts made by the client.
The Business Challenge:
- The asset under purview was of very high value.
- Finding the right customers interested in such a high value material
The Solution & Strategy
valuejunction met the challenge head on in a systematic, efficient & innovative matter. They first studied the market to get an idea of the value of the Titanium Stripper Vessels after which they marketed the online auction to be held to sell it. They then carefully marketed the asset amongst selected ferrous/Machinery dealers. The event was then conducted online following a two-stage auction strategy- Seal Bid and Forward Auction to ensure the client got the best price.
Results & Achievements:
Tata received significant benefits due to valuejunction's assistance. Some marked ones were:
- Good Price Realization:There was a good price realization for the Stripper vessels. Price achieved through Sale was INR 34.2 Lakhs, a 14% increase over the previous price achieved by the client.
- Successful eSale of high valued material:Inspite of constraints with rules for dismantling and payment terms set by the client, both the stripper vessels were successfully sold and site was cleared within 2 months.