The story of Standard Motors, once a prominent automobile manufacturer in India, is a significant chapter in the country’s industrial history.
The story of the sale of their manufacturing plant spread across 58 acres in Sriperumbudur, near Chennai, is particularly noteworthy.
When the manufacturing plant was sold to Sriram Properties, the challenge of dismantling and liquidating the massive plant and machinery fell to Matex. In 2006, this was one of the largest liquidation projects of its time.
Over 1.5 years, our dedicated team, was on-site to oversee the entire process. The plant and machinery were carefully segregated and divided into 45 distinct lots. These lots were then auctioned on our online e-auction platform, attracting almost 400 participants across India and even from Burma and Sri Lanka. The entire liquidation involved complex logistics, and meticulous planning with an unwavering commitment to the client's needs.
The machinery was valued at Rs.32 crores. But, with a meticulous approach we ensured the successful liquidation of the entire plant, down to the last screw generating a value (GMV) of Rs.35-Rs.40 crores.
This project stands as a testament to Matex's ability to manage large-scale
liquidation projects with clockwork precision, delivering exceptional results for our clients.
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