Archives

Business Insider

Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

Share
RSS feed of this blog

Auction held at GM Powertrain plant

Site manager Bruce Wheeler (left) of RACER Trust leads a tour of the former GM Powertrain plant in January. An auction was held Thursday for much of the equipment and tools in the plant. PETER CIHELKA/THE FREE LANCE-STAR

An auction was held Thursday morning at the former GM Powertrain plant in Spotsylvania County to sell many of the machines and tools that were once used to make torque-converter clutches for vehicles with automatic transmissions.

GoIndustry DoveBid Inc. conducted the auction, which was also available by webcast. The parking lot at the 300,000-square-foot Tidewater Trail plant appeared to be mostly full for the event, and the license plates of many different states were represented.

Click here to see a brochure showing what was being sold Thursday.

The RACER Trust owns the plant, and before Thursday’s auction also owned all the assets in it. The federal government created RACER–which stands for Revitalizing Auto Communities Environmental Response–following the bankruptcy of General Motors in order to clean up and dispose of 89 U.S. properties left vacant following the automaker’s reorganization.

Spotsylvania officials are working with RACER to sell the property. Prospects interested in buying the plant have looked at it, but there are no deals in place. The national preservation group Civil War Trust has also expressed interest in buying the property, tearing down the plant and turning the site into a historical park. The plant sits on land that played a crucial role in the 1862 Battle of Fredericksburg.

Permalink: http://news.fredericksburg.com/businessbrowser/2012/07/19/auction-held-at-gm-powertrain-plant/

*/