Harris Auctions Holding Live Webcast Auction of Dril-Quip Forge
Dril-Quip, Inc. is auctioning equipment from its recently closed forging, machining, and metallurgical lab on June 28, 2022. This decision arises from a strategic shift as the facility was deemed unnecessary for its evolving manufacturing model. The auction will feature a wide range of assets, including forging presses and CNC machines, overseen by Harris Auctions. Inspections are available prior to the auction, and the move reflects Dril-Quip's commitment to optimizing operations in the changing oil and gas market.
- Liquidation of non-core assets to streamline operations.
- Opportunities for bidders to acquire high-quality equipment.
- Closure of the forging facility indicates a potential reduction in manufacturing capabilities.
- Risk of asset oversupply could pressure auction prices.
HOUSTON, June 21, 2022 /PRNewswire/ -- With the recent closure of Dril-Quip, Inc.'s Forging, conventional machining and metallurgical lab, all of the related equipment will be sold at auction on Tuesday, June 28, 2022.
Auctioneer Jean Harris, Jr. (TX License # 18210) of Harris Auctions, a recognized name in the U.S. industry and beyond, will be overseeing the live webcast and online auction.
Dril-Quip, Inc. (NYSE: DRQ) continues to thrive in their role as a leading oilfield services company. However, due to the ever-changing and evolving oil and gas market, they have recognized the forge facility was no longer needed as a core of their manufacturing model going forward. Liquidating the entirety of this specific location is in their best interest.
All assets are currently located in Northwest Houston where private inspections are available by appointment and a general inspection is set for June 27 at the facility. You can call 713-462-5800 for details, as well as make pre-auction offers which will be considered for major assets.
From forging presses and manipulators to ring rolling machines, car bottom and box type furnaces, engine lathes and mills, vertical turret lathes and boring mills, CNC machines and metallurgical inspection - plus over 1 million lbs. of open die tooling - a massive selection will be available.
"We're honored to hold an auction like this that offers some of the rarest and highest quality equipment to see the open market in decades," says Jean Harris, President of Harris Auctions.
Since 1981, Dril-Quip has developed a reputation for innovation and quality. That mentality permeated into its manufacturing base and is demonstrated throughout the assets in the Forge facility.
"This is truly a unique opportunity for our friends and clients around the world," Harris added. "Plant managers and equipment buyers should take note. This auction of Dril-Quip's exceptional machinery is going to provide companies with an entire catalog to choose from."
To check out all of the available equipment that will be sold on June 28 at the forge, conventional machining and metallurgical lab, download the brochure or visit our official BidSpotter page to view the online catalog. Don't forget to register here either and be
Headquartered in Houston, Texas, Harris Machine Tools, Inc. quickly turned into an international leader in the used metalworking marketplace. More recently discovering a way to better serve its customers, the family business underwent a transformation that branched out from the roots of their historical dealership. Becoming surplus asset management experts, Harris Auctions was formed. Their manufacturing equipment auctions, either online or on-site, are held multiple times each month and reach a vast audience of industry bidders from virtually everywhere across the globe.
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SOURCE Harris Auctions
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