General Motors Windsor Transmission Division had closed four plants in less than a year. Two of those plants were located in St. Catherine's, Ontario, and the other two were in Windsor, and British Columbia. Each plant was more than 1 million square feet under one roof. GM was looking for a fair market value for the purposes of transferring the assets to other GM facilities or for boarder declaration as equipment was moved out of the country. They needed to make a decision quickly.
GM called on Maynards' trusted appraisal skills. Due to the short time frame, Maynards knew the best way to approach this was with multiple teams visiting the plants simultaneously. To complete the job efficiently and on time, Maynards sent three teams of 15 people. The teams worked 16-hour days to complete the work within the scheduled time frame.
In addition to the quick turnaround and the mammoth plants, the appraisal also had some unique twists. The assets included special dedicated machinery and equipment that was valued based on their useable components. Due to the high removal costs, and installation intensiveness, some of the assets in the plant were deemed cost prohibitive to move and valued as scrap. Maynard's appraised the assets on a Fair Market Value basis, and provided GM with the values and tools needed to determine which assets to sell, which to transfer and which to scrap.
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