Wood Mill Equipment Appraisals
Over the last decade the wood furniture production and manufacturing industry largely moved overseas.
The supply of wood mill equipment has increased with the international relocation of operations. Companies need to solidify fair market valuations through appropriate appraisals of their unused machines. Maynards has held auctions for the following woodworking companies: Century Cabinets, Inc (Kelowna, BC), Renoveau Architectural Millwork (Laval, QC), Creations Manufacturing Inc. (Fresno, CA).
Many mills no longer actually produce furniture--instead they represent furnishings that are built elsewhere. This has had a ripple effect and many wood mills have been mothballed or received appraisals for proper liquidation.
The abrupt closing of many of these plants results in unfinished products that are left behind. Instances with partially completed inventory that has already undergone milling will only require a few more steps to be converted into complete and salable finished goods. Thus, it can be advantageous to maintain a skeleton crew for staining, assembling, and packaging the remaining works in progress so they can be sold before conducting a machinery and equipment appraisal (M&E). This can both help to increase the return and prepare the plant to be used by the next tenant.