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Midland Fabricators & Process Systems LLC, et al. – ‘SC 13E3/A’ on 3/1/05 re: Unifab International Inc – ‘EX-99.C4’

On:  Tuesday, 3/1/05, at 6:02pm ET   ·   As of:  3/2/05   ·   Private-to-Public:  Document/Exhibit  –  Release Delayed   ·   Accession #:  950129-5-1869   ·   File #:  5-53539

Previous ‘SC 13E3’:  ‘SC 13E3/A’ on 1/14/05   ·   Latest ‘SC 13E3’:  This Filing

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/02/05  Midland Fabricators & Proces… LLC SC 13E3/A3/01/05    6:620K Unifab International Inc          Bowne - Houston/FA
          Jeanne M Hines McDaniel
          Midland Acquisition Inc
          Midland Fabricators and Process Systems LLC
          William A Hines

Amendment to Tender-Offer Statement – Going-Private Transaction   —   Sch. 13E-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13E3/A   Midland Fabricators & Process Systems for Unifab      45    235K 
                          International, Inc.                                    
 6: CORRESP   ¶ Comment-Response or Other Letter to the SEC            4      8K 
 2: EX-99.C2    Appraisal of Leasehold Property                       56    140K 
 3: EX-99.C3    Appraisal of Properties at Port of Iberia            116    355K 
 4: EX-99.C4    Appraisal of Machinery                                46    106K 
 5: EX-99.C5    Appraisal of Primary Machinery and Equipment          34     99K 
                          Assets                                                 


‘EX-99.C4’   —   Appraisal of Machinery
Exhibit Table of Contents

Page (sequential)   (alphabetic) Top
 
11st Page  –  Filing Submission
4Orderly Liquidation Value
6Recapitulation
7Forced Sale Liquidation Value
35Certificate of Appraiser
36Appraisal Overview
38Conditions of Appraisal
43Condition Codes
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Exhibit (c)(4) UNIFAB INTERNATIONAL ASSET VALUATION BY: THE WFA GROUP 5625 Northwest Central, Suite 100D Houston, TX 77092
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Febuary 19, 2002 Bank One 201 St. Charles, LA3-5261 New Orleans, Louisiana 70170 Attn: Mr. Richard Broussard, First Vice President APPRAISAL As requested, an appraisal of certain assets of UNIFAB INTERNATIONAL has been conducted by WFA/COLLATERAL REVIEW SERVICES, INC. This appraisal sets forth our findings and conclusions which are based upon an investigation of conditions affecting value and are subject to the Appraisal Overview; Purpose, Function and Scope; Conditions and Definitions contained in the following report. The values stated in this report are reflective of the appraiser's opinion as of the date of inspection (or date of this report if no inspection) and the appraiser makes no assumptions or predictions as to effect of future events on these values. This information is confidential and should be disclosed only to persons with a need to know as determined by the original purchaser. WFA is under no obligation to provide additional information and/or clarification of report contents to anyone other than the addressee. Thank you for the opportunity to be of service to you. Please contact us for any explanation or further review. Respectfully submitted, /s/ Grady A. Joiner Grady A. Joiner Executive Vice President /jaj Enclosure
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THE WFA GROUP FOREWORD Founded in 1984, THE WFA GROUP (WFA) offers varied financial services for commercial lenders and their borrowers. WFA provides accounts receivable, notes/contracts receivable and inventory field exams, inventory valuations, machinery & equipment appraisals and business valuations, in addition to bank presentations and seminars. We also offer a management consulting division which services small business in numerous consulting areas. Our COLLATERAL EXAM DIVISION provides exam services for pre-loan survey on new credits, loan portfolio maintenance on operating credits and in the asset review area on special credits. It also provides on-going monitoring of bank lines of credit secured by this collateral through our Red FlagsM Analysis & Collateral TrackersM Programs. These programs keep a lender better informed of their collateral status on borrowing base credits. This division assists banks and non-bank lenders in their secured lending function by validating the trade assets used as collateral, prove up the integrity of the borrowing base and protect lenders against loan losses. Our APPRAISAL/VALUATION DIVISION provides machinery and equipment appraisals and also values product inventories. Appraisals follow guidelines established by the Uniform Standards of Professional Appraisal Practices (USPAP) and American Society of Appraisers (ASA). BUSINESS VALUATIONS cover a wide range of business types and provide a Fair Market Analysis of tangible and intangible assets for stock sale, asset sale or financing of a business for continued operation. Our FINANCIAL SERVICES DIVISION provides Internal Operational AssessmentssM for banks and financial services for borrowers that need professional management assistance in the areas of financing, accounting, management and operations. WFA's combined staff experience evolves from numerous years in the areas of collateral management, asset-based lending, commercial banking, accounting, project management and consulting. Professional memberships include the American Management Association, American Society of Appraisers, National Association of Credit Management, Association of Certified Fraud Examiners, State & National Banking Associations. In addition, WFA has spoken to numerous banking groups, regulators and has published books and articles for national banking audiences, including those written for secured lending magazines, journals and newspapers. Our client base represents the entire financial services industry, domestic and foreign banks, including non-bank entities and the FDIC. WFA examines, appraises and values over $900 million in collateral annually.
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APPRAISAL FULL INSPECTION (See Purpose and Scope of Appraisal) February 19, 2002 UNIFAB INTERNATIONAL New Iberia, Louisiana MACHINERY & EQUIPMENT ORDERLY LIQUIDATION VALUE FORCED SALE LIQUIDATION VALUE INSPECTION EFFECTIVE: 0 1/15/02 -FULL INSPECTION APPLICATION BY Grady A. Joiner
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INDEX [Enlarge/Download Table] RECAPITULATION - Orderly Liquidation Value.................................................. 1 RECAPITULATION - Forced Sale Liquidation Value.............................................. 2 EXHIBITS & FIXED ASSET LISTINGS ............................................................ ME 1-27 CERTIFICATE OF APPRAISER ................................................................... 3 APPRAISAL OVERVIEW ......................................................................... 4 PURPOSE AND SCOPE OF APPRAISAL ............................................................. 5 CONDITIONS OF APPRAISAL .................................................................... 6 TERMS & DEFINITIONS ........................................................................ 7-10 CONDITION CODES ............................................................................ 11 QUALIFICATIONS ............................................................................. 12-13 Grady A. Joiner PHOTOGRAPHS ................................................................................ 14
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RECAPITULATION UNIFAB INTERNATIONAL New IBERIA, LOUISIANA FEBRUARY 19, 2002 ORDERLY LIQUIDATION VALUE TOTAL FOR REPORT *** $12,468,385 *** (TWELVE MILLION, FOUR HUNDRED SIXTY-EIGHT THOUSAND, THREE HUNDRED EIGHTY-FIVE DOLLARS) WFA/Collateral Review Services, Inc. VL - 1
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RECAPITULATION UNIFAB INTERNATIONAL NEW IBERIA, LOUISIANA FEBRUARY 19, 2002 FORCED SALE LIQUIDATION VALUE TOTAL FOR REPORT *** $9,400,830 *** (NINE MILLION, FOUR HUNDRED THOUSAND, EIGHT HUNDRED THIRTY DOLLARS) WFA/Collateral Review Services, Inc. VL-2
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EXHIBITS AND FIXED ASSET LISTINGS
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[Enlarge/Download Table] LOC. QTY ITEM DESCRIPTION COND OLV FSLV ---- -------- ----------- ---- --- ---- NI 1 CRANE 1980, Grove Mod. RT58C, S# 46422 F $ 26,000 $ 15,500 NI 1 TRACTOR John Deere Mod. 650, w/ 36" bush hog, F $ 2,900 S# Unk $ 4,900 NI 1 CRAWLER DOZER 1994, Komatsu Mod. D37P-5, rops, 4 G $ 27,000 $ 19,000 way blade, w/Allied winch, S# 3228 1976, Manitowoc Mod. 4100W Vicon crawler crane, 100' boom, NI 1 CRANE 40' jib, Martin Decker TOTCO, high G $ 895,000 $ 790,000 gantry, and etc., S# 413053, complete rebuilt in 1998 NI 1 LOT/SPEADER BARS 11 various heavy duty G $ 13,200 $ 7,900 spreader/lifting bars NI 1 MANIPULATOR Ransome Mod. 12x3012'vertical, 30' G $ 27,700 $ 16,000 horizontal, S# 628199 Gaffey 30 ton double beam gantry NI 1 CRANE crane,electric pendent control, G $ 27,000 $ 18,500 75' beam, mounted on tracks, S# Unk Includes the following: l-Ransome NI 1 LOT/PIPE ROLLS 10000 lb. power roll, F $ 46,000 $ 27,600 1 1-idler rolls, S#'s Unk., NI 1 CRANE 1998, Manitowoc Mod. 2250, crawler G $1,485,000 $1,350,000 crane, 180' boom, 40' jib, S# 2251023 Shop made torch/manipulator, on steel NI 1 MANIPULATOR platform and F $ 5,100 $ 3,060 70' of rail track To include the following : 1-Pipe roller system w/ 32-24" steel NI 1 PIPE ROLLER SYSTEM rollers, l- hydraulic winch, 175' G $ 25,500 $ 15,300 double I-beams, 2-pipe roller movers, mounted on 40' rail track, all shop made
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[Download Table] ME-1 Includes the following: 1-Weld Wire NI 1 LOT PIPE ROLLS 10000 lb. power roller, G $17,000 $10,200 3-idlers NI 1 TANK 10000 gallon diesel storage tank G $ 4,500 $ 2,700 NI 1 LOT SAND HOPPERS To include the following: 1-8 ton G $ 5,950 $ 3,570 stationary, 1-8 ton portable, 2-10 ton stationary, 1-40 ton stationary, Mod. Unk 1-40 ton overhead hopper gravity feed NI 1 AIR COMPRESSOR Sullair Mod. 25-100L, 100 psi, S# G $ 6,500 $ 3,900 30986BGG, w/volume tank NI 4 AIR COMPRESSORS Joy Mod WIN 112, S#'s Unk, all need S $ 1,200 $ 720 major repair NI 1 TRAILER 14'x60' portable modular office G $ 6,500 $ 3,900 trailer, central heat & air and etc. NI 2 TRAILERS 28'x60' double wide portable modular G $27,000 $16,200 office trailer, central heat & air and etc. NI 1 TRUCK International tractor w/ 40' flat bed P $ 2,000 $ 1,200 trailer, used as yard equipment only NI 1 TRAILER Mfg. unknown, 10', dual axle, F $ 500 $ 400 gooseneck, no serial number NI 1 MANIPULATOR Panjiris Mod. 1000 Manip, track G $25,500 $19,000 mounted, w/ dual Lincoln NA-4 wire feeds, Lincoln Ideal Arc DC-1000, S# U1970501099, Lincoln AC-1200, S# U19502119 NI 2 BRIDGE CRANE Kranco 15 ton A frame overhead G $47,000 $22,000 cranes, 75' beam mounted on tracks NI 1 CRANE Grove Mod. RT58C, S#Unk P $15,000 $ 7,000 ME-2
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[Enlarge/Download Table] NI 1 AIR Palatek Mod. 20DK, w/off shore frame, S# COMPRESSOR 95L007 G $ 12,600 $ 7,560 NI 1 LOT MISC. EQUIPMENT To include the following: 6-30'portable light stands, 20-4' portable light stands, 35-portable junction boxes, pipe racks and etc., G $ 21,000 $ 12,590 NI 1 WELDER Miller Dimension 450, S# Unk G $ 1,780 $ 1,070 NI 5 WELDER Miller CP-302, S# Unk G $ 7,200 $ 4,320 NI 42 WELDER Miller SRH 444, S#'s Unk G $ 22,680 $ 13,610 NI 1 WELDER Lincoln DC-400, S# Unk G $ 1,350 $ 810 NI 14 WELDER Miller 250 TS, S#'s Unk G $ 16,635 $ 9,980 NI 2 WELDER Miller Dimension 452, S# Unk G $ 2,705 $ 1,625 NI 5 WELDER Miller CP-252 TS, S#'s Unk G $ 6,060 $ 3,635 NI 1 WELDER Miller CP-300, S# Unk G $ 1,350 $ 870 NI 4 WELDER Miller SRH 333, S# Unk G $ 1,680 $ 1,010 NI 2 WELDER Lincoln DC-600, S#'s Unk G $ 3,920 $ 2,350 NI 3 WELDER Airco 400 Bumble Bee, S#'s Unk G $ 2,760 $ 1,650 NI 2 WELDER Miller Goldstar 452, S#'s Unk G $ 2,590 $ 1,555 ME-3 NI 1 WELDER Thermal Arc Pak 40, S# Unk G $ 2,920 $ 1,750 NI 2 WELDER Miller Deltaweld 452, S#'s Unk G $ 2,705 $ 1,625 NI 1 WELDER Profax P-300SG, S#'s Unk G $ 1,100 $ 660 NI 1 PIPE THREADER Ridgid Mod. 535, w/ tools and G $ 2,000 $ 1,200
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[Enlarge/Download Table] dies NI 1 CRANE 1971, Manitowoc 4100 Vicon, 150' boom, 30' jib, crawler crane,S# 41054 G $295,000 $225,000 NI 1 CRANE 1983, Manitowoc 3900 Vicon, 140' boom, 30' jib, crawler crane, S# 391285 G $345,000 $285,000 NI 1 BRIDGE CRANE Gaffey 10 ton double beam, 55', electric pendent control, w/shaw box G $ 16,200 $ 9,720 NI 1 BRIDGE CRANE Landel 5 ton double beam, 55', electric pendent control, w/shaw box G $ 8,640 $ 5,785 NI 1 BRIDGE CRANE Robbins & Myers 10 ton double beam, 55', electric pendent control G $ 16,200 $ 9,720 NI 1 BRIDGE CRANE Landel 10 ton double beam, 55', electric pendent G $ 11,800 $ 7,130 NI 1 LOT MISC. EQUIPMENT Includes the following: shop made pipe loading rack approx. 100' long w/rails and 20-24' rollers electric drive, 1-shop made pipe cutter, 1-drill press, 1-ridid 535 pipe threader, 1-Carolina CBT-5-1200 50 tons H-frame press, 1-anvil, 3-work tables, 3-panjiris positioners (small), 2-shop made positioners, 1-lot of 1000 lb. Idlers no make a model visible, 1-2 ton jib w/wright elevator hoist G $ 58,400 $ 35,040 ME-4 NI 1 THREADER Landis, Mod. Unk, Max. 6" pipe threader G $ 4,400 $ 2,640 NI 1 WELDER Shop made track welder wlLincoln G $ 7,820 $ 4,695
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[Enlarge/Download Table] DC-600,single head Lincoln LN9N wire feed, mounted on track rails NI 1 POSITIONER Aronson Mod. SHD100A, 120000 lb., S# 80419 G $ 75,000 $ 48,000 NI 1 POSITIONER Panjiris Mod. BETA, S# 81-2050-2 G $ 11,600 $ 6,960 NI 1 PIPE CUTTING SYSTEM Vernon Tool Company dual head pipe cutting torch line, computer operated, w/ 60' pipe conveyor outside, 40' pipe conveyor inside, 20' catch conveyor, Hypertherm Max 200 G $132,000 $ 95,000 NI 1 AIR COMPRESSOR Emglo Mod. 452TV, 10 hp, w/ air dryer, horizontal tank, S# V9C811 PTZT G $ 2,400 $ 1,440 NI 3 JACKS Panjiris Hydraulic V jacks, w/ interpack pump, S#'s Unk G $ 8,925 $ 5,355 NI 2 BRIDGE CRANE Landel 5 ton double beam, 60', electric pendent control G $ 17,280 $ 10,365 NI 1 LOT MISC. EQUIPMENT To include the following: 1-Miller SRH 444 wl SA 22 wire feed, 1-Jet drill press, l-Jet dual wheel pedestal grinder, l-Wilson 100 ton H-Frame press, l-Alkota steam cleaner Mod. 3102A F $ 10,120 $ 6,070 NI 1 TRACTOR Ford Mod. 6600, S# Unk F $ 4,370 $ 2,620 IngerSoll Rand Mod. P-750-W-CU, 750 cfm NI 1 AIR COMPRESSOR compressor F $ 8,000 $ 4,800 NI 4 ICE MACHINES Manitowac Mod. S-970 & C-970, S# Unk G $ 4,800 $ 2,880 NI 1 WELDER Miller CP-250TS, S#Unk G $ 1,190 $ 710
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[Enlarge/Download Table] ME-5 NI 4 WELDER 1-Deltaweld 452, 1-CP-302, 1 - Miller 250, and 1 Miller Mod. # Unk (in need of repair) P $ 1,405 $ 850 NI 2 TURNING ROLLS Weld Wire, Mod. Unk, 10000 lb. Power turning rolls G $ 15,000 $ 9,000 NI 2 BRIDGE CRANE Landel 20 ton double beam, 75', w/ Yale hoist G $ 54,000 $ 32,400 NI 2 BRIDGE CRANE Landel 5 ton single beam, 75', electric pendent control G $ 18,360 $ 11,015 NI 1 JIB CRANE 30'x40' w/1/2 ton electric hoist G $ 325 $ 195 NI 1 ABRASIVE SAW Savage/Campbell 20" Mod. 22 A, 20' table, S# 801954 G $ 900 $ 540 NI 1 PUNCH Center Engineering Mod. MM61P, w/ 20' roll conveyor, S# 2927980 F $ 1,600 $ 1,280 NI 1 LOT MISC. EQUIPMENT Includes the following: 1-18" chop saw, 1-Jet drill press, 3-work tables, l-vise, & etc. F $ 3,500 $ 2,100 NI 1 PIPE THREADER Ridgid Mod. 535, with tools and dies G $ 2,000 $ 1,200 NI 3 WELDER Miller CP-252TS, S# Unk G $ 3,635 $ 2,180 NI 2 WELDER Miller SRH 444, S#'s Unk G $ 1,080 $ 650 NI 1 WELDER Miller CP- 250 TS, S#'s Unk G $ 1,190 $ 710 NI 3 WELDER Miller CP-300, S# Unk G $ 4,045 $ 2,425 NI 1 WELDER Miller Mark 111-2 8 pak, S# KE-673042 G $ 5,440 $ 3,265
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[Enlarge/Download Table] ME-6 NI 1 DRILL PRESS Modog Mod. RBM-28B, S# 4925 G $ 900 $ 540 NI 4 BRIDGE CRANE Landel 20 ton double beam, 100', electric pendent G $150,000 $ 88,000 NI 10 BRIDGE CRANE Landel 20 ton double beam, 60', electric pendent control G $240,000 $150,000 NI 1 MANIPULATOR 20'x6', trac/torch plasma cutting system G $ 9,075 $ 5,445 NI I BANDSAW Wells Saw Mod. F-15, w/20' in feed conveyor G $ 3,510 $ 2,105 NI 1 WELDER CXA shape cutter trac/welder on rail tracks w/ Miller SRH 444 F $ 4,950 $ 4,200 NI 1 LOT TURNING ROLLS Includes the following: 1-10000 lb. Weld Wire power roller, 10-Weld Wire 10000 lb. idlers G $ 42,500 $ 25,500 NI 1 MANIPULATOR Cauyuga 10'x10' manipulator, single head Lincoln NA-3N wire feed, l-Lincoln Ideal Arc AC-1200 & Lincoln Ideal Arc DC-1000 G $ 15,000 $ 9,000 NI 4 TURNING ROLLS 4 sets Panjiris power turning rolls and idlers 5000 lb. G $ 10,800 $ 6,480 NI 1 PIPE THREADER Ridgid Mod. 535, w/ dies, tools and 2 pipe vices G $ 2,000 $ 1,200 NI I MANIPULATOR Wire Weld Mod. 141450, 15'x 12' manipulator w/dual Lincoln NA-4 & NA-3N wire feed heads, l-Lincoln Ideal Arc DC-1000, 1-Lincoln Ideal Arc AC-1200 G $ 30,400 $ 18,240
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[Enlarge/Download Table] NI I GRINDER Cincinnati 24" surface grinder, Mod Unk F $ 7,500 $ 4,500 NI 1 CUTTING SYSTEM Kolke Sanso Kogyo Mod. K-25000, tracer/cutter, w/3 computer controlled heads and 30' burn table G $100,000 $ 90,000 ME-7 NI 1 CUTTING SYSTEM CXA shape cutter w/ Gruman Co-Ordinated Tracing System, 3 heads and 30' burn table G $ 54,000 $ 54,000 NI 1 BRAKE Pacific, 1971, Mod. K500, 500 ton, 12' deck, max 5/8" S# 5147 G $ 58,000 $ 48,600 NI 1 CUTTING SYSTEM Custom made cutting torch platform w/ Aronson 10000 lb. turning roll and idler G $ 13,600 $ 8,160 NI 1 WELDER Lincoln Ideal Arc DC-600, w/ Lincoln LN-8 wire feed and Invincible Flux Recovery System G $ 4,585 $ 2,750 NI 2 WELDER Miller VIII-2, 8 pak welders, S# HD 689614 & 1 Unk G $ 10,880 $ 6,530 NI 6 WELDER Miller SRH 444, S#'s Unk G $ 3,240 $ 1,945 NI 1 WELDER Lincoln DC-1000, S# Unk G $ 2,050 $ 1,260 NI 3 WELDER Miller CP-250 TS, S#'s Unk G $ 3,565 $ 2,140 NI 3 WELDER Miller Deltaweld 452, S#'s Unk G $ 4,055 $ 2,435
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[Enlarge/Download Table] NI 1 WELDER Miller CP-300, S# Unk G $ 1,350 $ 800 NI 1 WELDER Memco 302, S#Unk G $ 800 $ 480 NI 1 WELDER Miller SRH 222, S# Unk F $ 320 $ 190 NI 1 WELDER Miller Goldstar 452, S# Unk G $ 1,295 $ 775 NI 1 RADIAL ARM Carlton 6' arm 19" column, Mod Unk G $ 9,200 $ 5,520 ME-8 NI 1 SHEAR HTC Mod. 500-10A,10' deck, max -1/2" S# A1075930 G $ 28,080 $ 16,850 NI 1 LOT TURNING ROLLS To include the following: 1-200 ton Ransome power turning roll, 2-200 ton Ransome idlers G $ 53,000 $ 31,800 NI 1 FORKLIFT 1986 Clark Mod.CCS30MB, 5000 lb. Lift, S# G138MB-0048-5521-FA G $ 6,000 $ 3,600 NI 1 LOT MISC. EQUIPMENT Includes the following: 2- 5 ton jib cranes, 1-1 ton jib crane, 5-24" fans, jack stands, steel work tables, G8 old roller & idler, etc. F/P $ 6,815 $ 4,090 NI 2 BRIDGE CRANE Landel 10 ton, double beam, 75', electric pendent control G $ 28,560 $ 17,135 NI 1 BRIDGE CRANE Landel 5 ton, double beam, 75', electric pendent control G $ 9,180 $ 5,510 NI 4 BRIDGE CRANE Gaffey 25 ton, double beam, 75', electric pendent control G $107,200 $ 64,320
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[Enlarge/Download Table] NI 1 PIPE TROLLEY Shop made 20'x30' electric powered pipe rail trolley w/ Kone 2 ton hoist G $ 4,000 $ 2,400 NI I PLATE ROLL Bertsch Mod. 24, S# Unk, 13/4" max G $225,000 $160,000 NI I PLATE ROLL Bertsch Mod. 34, S# Unk, 4" max G $420,000 $335,000 NI 1 MANIPULATOR Aronson Mod. S 16VR47CL-SK, 30'x20' sub arc, w/ dual head Lincoln NA-3N wire feed, l-Lincoln AC-1200,1 Lincoln DC-1500, on track system G $ 50,000 $ 30,000 NI 2 TURNING ROLLS Wire Weld 12000 lb., 2-power rolls & 2 idlers G $ 50,000 $ 4,865 ME-9 NI 1 MANIPULATOR 20'x20' manipulator sub arc, Mod. Unk, w/ single head Lincoln NA-3N wire feed, l-Lincoln Ideal Arc DC-1500 G $ 44,000 $ 26,400 NI 1 PIPE WELDING SYSTEM To include the following: Shop made 75'x35' grated platform w/12 Ransome power rollers, 3 sets Ransome pipe kickers, 1 Ransome Rerounder, 16 24" rollers, l 9'x35' manipulator on rails, 3-Lincoln AC-1200, 3-Lincoln DC-1000, 4-Lincoln NA-3N wire feeds, 4 Invincible Flux Recovery System, 4-5 ton CM electric hoist G $400,000 $250,000 NI 1 WELDER Linde VCR801 CV, S#Unk G $ 11,120 $ 6,675
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[Enlarge/Download Table] NI 1 WELDER Miller CP-300, S#Unk G $ 1,350 $ 810 NI 5 WELDER Miller CP-250 TS, S#'s Unk G $ 5,940 $ 3,535 NI 1 WELDER Miller CP-252 TS, S# Unk G $ 1,215 $ 725 NI 1 WELDER Miller SIZE 444, S# Unk G $ 540 $ 325 NI 1CUTTING SYSTEM ESAB Slicer, 14' pattern cutting system w/ 3 computer controlled heads, 50' rail track, no table G $115,000 $ 75,000 NI 1 MANIPULATOR Ransome 12'x12' sub arc, w/ single head Lincoln NA-3N wire feed, 1-Lincoln AC-1000,1-Ideal Arc DC-1000 Invincible Flux Recovery System, S# 628199 G $ 24,840 $ 14,905 NI 1 PIPE WELDING SYSTEM Includes the following: 14'x90' grated platform, w18 power rollers, 1.20'x20' manipulator, 3-Lincoln NA-3N wire feeds, I - Lincoln AC-1200,1-Lincoln DC-1000, Invincible Flux Recovery System, 1-side, rail w/ Lincoln DC-1000,1-Lincoln NA-3N wire feed G $145,000 $100,000 ME-10 NI 1 MANIPULATOR 20'x15' w/ Lincoln DC-1000, Invincible Flux recovery System G $ 37,620 $ 22,570 NI I MANIPULATOR Mfg. unknown 10'x8' w/ Miller FC 75E F $ 2,100 $ 1,860 NI 1 BRIDGE CRANE Kone, 10 ton, double beam, 75', electric pendent control G $ 14,280 $ 8,570 NI 1 BLAST SYSTEM BCP Auto Blast System Mod. A4-6814, S# 1745, w/ 40' infeed and exit table, return system, Palatex 60DA air compressor G $111,250 $ 66,750
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[Enlarge/Download Table] NI 1 LOT MISC. EQUIPMENT To include the following: 1-16' air manifold, 2-8' air manifolds, pipe racks, hangers, jib crane w/ 2 ton electric hoist G $ 6,000 $ 3,600 NI 1 BRIDGE CRANE Anchor 10 ton, double beam, 35', electric pendent control G $ 7,020 $ 4,215 NI 2 BRIDGE CRANE 3 ton mono beam, 75', electric pendent control G $ 7,200 $ 4,320 NI I BRIDGE CRANE 5 ton mono beam, 75', electric pendent control G $ 4,860 $ 2,915 NI 2 WELDER Miller Mark 111-2 8 pak, S# KB-0745401 Unk G $ 10,880 $ 6,530 NI 1 MANLIFT Grove MZ66B, S# Unk Scrap Value P $ 5,000 $ 3,000 NI 7 WELDER Miller SRH 444, S#'s Unk G $ 3,780 $ 2,270 NI 1 WELDER Miller CP-252TS, S# Unk G $ 1,215 $ 730 NI 2 WELDER Miller CP-302, S#'s Unk G $ 2,880 $ 1,730 NI 2 WELDER Miller Deltaweld 452, S#'s Unk G $ 2,705 $ 1,625 ME-11 NI 2 WELDER Miller CP-250 TS, S#'s Unk G $ 2,375 $ 1,425 NI 1 WELDER Lincoln DC-400, S#Unk G $ 1,350 $ 810 NI 1 WELDER L-Tec V1-360-1, S# Unk G $ 720 $ 435 NI 1 PIPE THREADER Ridgid Mod 535 w/ dies & tools G $ 2,000 $ 1,200 NI 1 BANDSAW Jet Mod. HBS-1018W, horizontal bandsaw G $ 2,200 $ 1,315 NI 1 CRANE Manitowac, 1976, 4100W Vicon crawler crane, 140' boom, 30' jib, high gantry, S# 413052, complete rebuilt 1998 G $890,000 $785,000 NI 1 CRANE Manitowac, 1982, 4000W Vicon G $340,000
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[Download Table] crawler crane, 160'boom, $ 290,000 S# 40733 NI 1 CRANE Manitowac, 1970, 4000W Vicon G $ 925,000 $ 800,000 crawler crane, 160' boom, 30' jib, S# 40345, complete rebuilt (1999) NI 1 CRANE Manitowac, 1969, 4000W, crawler G $ 275,000 $ 195,000 crane, 160'boom, S# 40257 NI 1 BRIDGE CRANE Aceco 10 ton, double beam, 45', G $ 8,100 $ 4,860 electric pendent control, NI 1 AIR COMPRESSOR Ingersol Rand 5 hp, vertical tank F $ 500 $ 300 NI 1 ROD OVEN Keef Mod. R-1000, S# Unk G $ 700 $ 420 ME-12 APS 1 FURNACE 1976, Huber Construction Co. G $ 125,000 $ 80,000 15'x15'x50' gas fired car bottom stress relieving furnace, 2000 degree, w/Brady & Honeywell control center PLC controls, track load APS 1 CRANE 1979, Galion Mod. 150-A, 15 ton F $ 14,800 $ 8,880 RT, S# 8097 APS 30 TURNING ROLLS 30 sets of Panjiris & Aronson F $ 364,500 $ 218,700 power turning rolls and idlers, average size 50 ton APS 1 PLATE ROLL Bertsch Mod. 34, S# M8742 G $ 430,000 $ 340,000
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[Download Table] APS 2 BURNERS Cypress Weld hole G $ 10,500 $ 6,300 burners,mounted on shop made 12'x12' manipulator APS 1 CUTTING SYSTEM ESAB Avenger #1-12 pattern G $ 108,000 $ 64,800 burner, S# 96-V152-4179, w/ 7 heads, Vision 2000 controls, 50'x12' water table APS 2 BRIDGE CRANE Landel 50 ton, double beam, 70', G $ 85,000 $ 55,000 pendent control APS 1 BRIDGE CRANE Landel 10 ton, double beam, 70', G $ 14,280 $ 8,570 electric pendent control 1993, AccuShear Mod. 850010,10' deck, max 1/2", S# 1988 APS 1 SHEAR 1993, AccuShear Mod. 850010, 10' G $ 19,440 $ 11,665 deck, max -1/2" S# 1988 APS 1 MANIPULATOR Preston Eaton 10'x10', single head G $ 11,880 $ 7,130 sub arc w/Miller Control 2 wire feeder, Invincible Flux Recovery System, Lincoln DC-1000 APS 1 IRON WORKER Piranha Mod. P90, w/dyes and G $ 14,040 $ 8,425 punches, S# P-90-606 APS 1 MANIPULATOR 1999, Weld Wire Mod. WW1414, G $ 29,120 $ 17,475 S#99S3991, 14'x14' w/four head, 3 Lincoln NA-4,1-NA-3N wire feed, l-Lincoln AC-1200,1Lincoln DC-1000 ME-13
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[Download Table] APS 4 MANIPULATOR Ransome Mod 12'x12', single head G $ 162,000 $ 97,200 sub arc, Lincoln wire feed NA- 4 & NA-3N,1-Lincoln AC- 1200,1-Lincoln DC-1000 APS 1 RADIAL ARM Cincinnati Bickford 5' arm 17" G $ 4,860 $ 2,915 column, w power clamping, S#5E149 APS 1 MANIPULATOR Panjiris Mod. 144HD, L-Tec single G $ 7,000 $ 4,200 head sub arc, L-Tec PCM 250, Invincible Flux Recovery System APS 5 ROD OVENS Phoenix Mod 13 rod ovens G $ 800 $ 480 APS 1 MANIPULATOR Panjiris Mod. 172, Linde single G $ 8,000 $ 4,800 head sub arc, Miller 652, Invincible Flux Recovery System APS 2 POSITIONER Preston Easton Mod. PA-30HD-6, G $ 10,500 $ 6,300 2500 lb. APS 5 POSITIONER Ransome & Panjiris 1000 lb. G $ 11,250 $ 6,750 APS 2 BRIDGE CRANE 3 ton mono beam, 35', electric G $ 5,400 $ 3,240 pendent control APS 15 WELDER Miller CP-250 TS, S#'s Unk G $ 2,970 $ 1,785 APS 1 WELDER Linde Plasma Arc PCM-100, S# Unk G $ 8,100 $ 4,860 APS 15 WELDER Miller SRH 444, S#'s Unk G $ 11,120 $ 6,675 APS 1 WELDER Linde VCR801 CV, S# Unk G $ 480 $ 290 APS 1 WELDER Linde V1-400, S# Unk G $ 4,000 $ 2,400 ME-14 APS 1 WELDER L-Tec PCM 250, S# Unk G $ 4,000 $ 2,400 APS 1 WELDER L-Tec PCM 70, S# Unk G $ 520 $ 325
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[Enlarge/Download Table] APS 10 WELDER Miller Deltaweld 452, S#'s Unk G $ 13,520 $ 8,115 APS 9 WELDER Miller Deltaweld 450, S#'s Unk G $ 12,130 $ 7,280 APS 8 WELDER Miller Deltaweld 451, S#'s Unk G $ 10,815 $ 6,490 APS 5 WELDER Miller CP-300, S#'s Unk G $ 6,740 $ 4,045 APS 1 WELDER Miller MP-30E, S# Unk G $ 540 $ 325 APS 1 WELDER Miller 652, S# Unk G $ 1,890 $ 1,135 APS 1 WELDER Miller 650, S# Unk G $ 1,620 $ 975 APS 1 CRANE 1939 American Bridge straight leg G $ 64,800 $ 38,880 Mod. 2509, 100 ton hoist w/ 20 ton aux. Hoist, Cummings engine, 35' boom, S# 7807-7815 APS 1 FORKLIFT 1998, Case Mod 586E RT, S# G $ 25,600 $ 15,360 JJG0251856 APS 1 AIR COMPRESSOR Sullair Mod. 900DPQ-CAT, 900 G $ 8,000 $ 4,800 cfm, S# 004-108695 APS 1 CRANE 1978, Manitowac 4000W Vicon G $ 235,000 $ 200,000 crawler crane, 180' boom, 30',jib, S# 40642 APS 1 FORKLIFT Clark Mod. C-500-YS80, 8000 lb. G $ 6,400 $ 3,840 Lift, gas, two stage mast ME-15 APS 1 CRANE 1974, Galion Mod. 150-A, 15 ton RT, G $ 11,600 $ 6,960 S# 7789 APS 1 AIR COMPRESSOR Sullair Mod. 25-150H rotary screw G $ 8,000 $ 4,800 compressor, S# 34700FGH,125 PSI APS 4 BUILDINGS Mfg. Unknown, portable paint/blasting F $ 8,925 $ 5,335 buildings, 40'x50'x20'
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[Enlarge/Download Table] APS 1 AIR COMPRESSOR Sullair Mod. 25-150H rotary screw G $ 8,000 $ 4,800 compressor, S# 8861KLF, 125 psi, skid mounted APS 4 TANKS Can-San 5 ton sand blasting tanks G $ 14,400 $ 8,640 APS 2 STORAGE UNITS Mfg. Unknown, 40' steel storage G $ 3,200 $ 1,920 containers APS 1 AIR COMPRESSOR Leroi Mod. B50SS, rotary screw, S# G $ 3,600 $ 2,160 4046X106 APS 1 FORKLIFT Taylor Mod. Y-16, 16000 lb lift, S# F $ 9,600 $ 5,760 3-55-2329 APS 3 PIPE THREADER Ridgid Mod 535 w/ dies & tools G $ 6,000 $ 3,600 APS 1 PLASMA CUTTER L-Tec PCM-250, S# Unk G $ 4,000 $ 2,400 APS 1 LOT BEVELERS To include the following sizes: G $ 4,770 $ 2,860 2-12", 2-6" 3-3",1-18",1-24" APS 1 BANDSAW Do-All Mod. C-12, horizontal band G $ 4,960 $ 2,075 saw, S# 144-58247 ME-16 APS 1 LOT MISC. To include the following: Reed G $ 86,200 $ 51,720 EQUIPMENT Printice 12"x30" engine lathe, 6-up Kess flux oven, 3-sand hoppers, 1-25 ton overhead sand hopper, 1-3 8 "x24" reach in bead blaster, I - Sullair 5 hp horizontal tank compressor APS 2 AIR COMPRESSOR Grimmer Schmidt, Mod. E1805X, M1805H G $ 13,600 $ 8,160 APS Racine Mod. 657050U, 5000 psi, max 3" G $ 14,850 $ 8,900 1 PIPE BENDER bend SUBTOTAL $ 2,056,320 $ 1,382,920
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[Download Table] ME-17 SD 1 Forklift F $ 4,000 $ 2,400 Sold Hyster, 5000 Lb lift, , Mod. Unk 1 Boom Truck Auto Car w/20' oil field bed, gin SD Sold poles 2-20 ton Tulsa winches, yard F $ 8500 $ 5,100 use only SD 1 Sandpot Sold Mfg. Unknown, 8 ton portable sandpot G $ 2,800 $ 1,680 SD 1 Crane Galion Mod. 150-P, Series A, 15 ton, F $ 15,000 $ 9,000 Sold S# Unk SD 5 Welder Sold Esab 352 CV, S#'s Unk G $ 6,800 $ 4,080 SD 4 Welder Sold Miller SRH 444, S#'s Unk G $ 2,160 $ 1,295 SD 3 Welder Sold Miller Goldstar 452, S#'s Unk G $ 3,890 $ 2,335 SD 1 Welder Sold Miller CP-250TS, S#Unk G $ 2,285 $ 710 SD 1 Welder Sold Miller SRH 333, S# Unk G $ 420 $ 250 SD 1 Steam Cleaner Alkota Mod 3102A, steam/pressure G $ 960 $ 575 Sold washer 1 Bridge Crane Gaffey w/10 ton Spacemaster II hoist, SD Sold single beam, 24' electric pendent G $ 13,500 $ 8,100 control SD 1 Radal Arm Cincinnati Bickford 6' arm, 19' G $ 5,615 $ 3,370 Sold column, S# Unk 1 Bandsaw 1979, Wells Saw Mod. F-15-2, SD Sold horizontal bandsaw, S#A120F91, 40' in G $ 3,510 $ 2,110 feed conveyor ME-18 1 Lot Misc. To include the following: 4-Miller SD Equipment S-32-P wire feeders, 4-SA60 wire G $ 7,040 $ 4,225 Sold
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[Enlarge/Download Table] feeders SD 1 Forklift 1985, Taylor Mod. Y-18-BWD, 18000 G $ 14,000 $ 8,400 Sold lb.. Lift, S#S-35-10616 SUB-TOTAL (SUPERIOR DERRICK) $ 89,380 $ 53,630 ME -19 LC 1 Crane 1965, Manitowoc 4000 W, 140' boom, G $ 190,000 $ 160,000 30' jib, S#40010 LC 3 Welder Miller Mark III-2 8 pak, S#JK 639888, G $ 20,400 $ 12,240 KE 633573, JK 661645 LC 1 Yard Truck Yard Hustler w/ 36' trailer yard use F $ 8,000 $ 4,800 only LC 1 Excavator 1994, Hitachi Mod. EX 200LC-3, G $ 35,200 $ 29,920 S#140-79860 LC 1 Truck International Mod. F 1964, F $ 3,600 $ 2,880 VIN#AF195JCA24857-4, yard use only LC 1 Air Compressor Quincy Mod. QSI-750 ALA310 rotary G $ 42,500 $ 35,425 screw, S#96600H LC 3 Bridge Crane Proserve 20 ton, double beam, 100' G $ 112,000 $ 66,000 electric pendent control LC 2 Welder Miller Dimension 452, S#Unk G $ 4,000 $ 2,400 LC 1 Welder Miller Regency, S#Unk G $ 1,080 $ 650 LC 10 Welder Miller CP-302, S#'s Unk G $ 18,000 $ 10,800 LC 9 Welder Miller SRH 444, S#'s Unk G $ 4,860 $ 2,915 LC 2 Welder Miller DialArc 250, S# Unk G $ 760 $ 455 LC 4 Welder Miller Goldstar 452, S#'s Unk G $ 5,185 $ 3,110
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[Enlarge/Download Table] LC 5 Welder Miller SRH 333, S#;s Unk G $ 2,100 $ 1,260 ME-20 LC 3 WELDER Profax P-300-SG, S#'s Unk G $ 3,300 $ 1,995 LC 1 WELDER Lincoln Ideal Arc R3R300, S# Unk G $ 400 $ 240 LC 1 WELDER ESAB SVI-4501, S# Unk G $ 3,350 $ 2,010 LC 1 WELDER Airco MW 450EC, S# Unk G $ 1,040 $ 625 LC 1 WELDER Miller SRH 404, S# Unk G $ 460 $ 275 LC I WELDER Millermatic Vintage power source/wire G $ 1,490 $ 895 feeder, S# Unk LC 1 LOT WIRE To include the following: 10-Miller G $ 9,200 $ 5,520 FEEDERS 22-A, 1-Miller WC-115A, 1- Linde LN-9 LC 1 TRAILER 32' van trailer used for storage, Mod P $ 300 $ 250 Unk LC 1 TURNING ROLLS 1-10000 lb power turning roll, G $ 11,600 $ 6,960 2-idlers, LC Ramco Mod. RS90P, horizontal band G $ 675 $ 405 1 BANDSAW saw, S# 119711 LC 1979,,Dresser/Galion Mod. 150-F, 15 G $ 27,600 $ 24,840 1 CRANE ton, S# 8434 LC 2 WELDER Miller XMT-304, S#'s Unk G $ 3,595 $ 2,155 LC 1 PIPE THREADER Ridgid Mod 535 w/ dies & tools G $ 2,000 $ 1,200 LC 1 TRACTOR Ford T-5900, S# X02965 G $ 5,500 $ 3,300
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[Enlarge/Download Table] ME-21 LC 1 CRANE 1982, Case Mod. 3330 Drott, S# 6225491 G $ 12,420 $ 10,555 LC 1 AIR COMPRESSOR Ingersoll Rand 175 cfm, S# F $ 3,600 $ 2,160 125-887-V81-957 LC 1 MOWER Tiger Slope mower, 48" deck, S# Unk G $ 2,800 $ 1,680 LC 1 AIR COMPRESSOR Sullair 185 cfm, S#Unk F $ 5,510 $ 3,305 Proserve 20 ton, double beam, 70', G $ 54,000 $ 32,400 LC 2 BRIDGE CRANE electric pendent control LC 1 PIPE CUTTING Vernon Tool Company dual head pipe G $ 181,000 $ 120,000 SYSTEM cutting torch line, Mod MPM 20224-6068, computer operated, w/ 80' pipe conveyor outside, 40' pipe conveyor inside, 16'x16' roll out, LC 1 LOT BEVELERS To include the following: 2-24", G $ 10,000 $ 6,000 2-20", 1-9", 3-12", 1-6" LC 1 LOT CRANES 6 jib cranes w/ 6-Jet 1 ton hoists G $ 5,185 $ 3,110 LC 1 CUTTING SYSTEM Miller Spectrum 1250 DC Plasma G $ 3,765 $ 2,260 Cutting System, S# KF992947 LC 1 AIR COMPRESSOR Quincy Mod. QST-50ANA32-SQ, G $ 8,960 $ 5,375 horizontal tank, S# 85923
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[Enlarge/Download Table] LC 1 TRAILER 36' gooseneck trailer F $ 7,000 $ 4,200 1978, Freightliner 5400, 14 yard F $ 3,900 $ 3,120 LC 1 DUMP TRUCK dump, Vin# CB113HP146380 LC 1 BACKHOE 1994, Case 580 Super K, S# JJC0179867 G $ 21,200 $ 18,500 ME-22 LC 1 TRAILER 52'x8' office trailer w/central heat F $ 6,500 $ 3,400 and cooling, Make Unk, Texas tag # 017713 LC 1 BACKHOE 1995, Cat Mod. 416B, S# 8ZKO3246 Unk $ 25,000 $ 22,000 LC 1 AIR COMPRESSOR Sullair, 185 cfm, 125 psi, S# Unk $ 5,510 $ 3,305 E04-115108 LC 3 WELDER Lincoln 350, diesel engine trailer Unk $ 3,620 $ 2,170 mount LC 1 WELDER Lincoln 400, diesel engine trailer Unk $ 3,895 $ 2,335 mount LC 1 WELDER Miller 250, diesel engine, trailer Unk $ 3,100 $ 1,860 mount ME-23 RS 1 Truck 2001, Chevrolet Silverado 1500, G $ 13,060 $ 7,835 Sold VIN#2GCEC19V011332642 RS 1 Trailer Wells Cargo utility trailer, Unk $ 2,400 $ 1,840 Sold VIN#1WC200C16Y2039153, 5'x15'
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[Download Table] RS 1 Truck 2000, Chevrolet Silverado 1500, Sold VIN#2GCEC19V0Y1400769 Unk $14,580 $ 8,750 RS 1 Vehicle 1999, Ford Crown Victoria 4D LX, Sold VIN#2FAFP74W7XX101566 Unk $10,820 $ 6,495 RS 1 Truck 1998, Ford F-150 Super Cab, VIN#1FTZX1769WNA42309 G $10,540 $ 6,325 RS 1 Truck 1998 Dodge Ram 1500 Swept, VIN#1B7HC16X6WS685610 Unk $ 7,940 $ 4,765 RS 1 Truck 1998, Dodge Ram 1540 Swept, VIN#1B7HC16X9WS688159 Unk $ 7,940 $ 4,765 RS 1 Truck 1998, Chevrolet C2500 Extended Cab, VIN#1GCGC29R5WE187232 Unk $10,000 $ 6,000 RS 1 Truck 1998, Chevrolet C2500 Extended Cab, VIN#1GCGC29R5WE191042 1998, Chevrolet Tahoe 4 door, Unk $10,000 $ 6,000 RS 1 Vehicle Sold VIN#1GNCS13W4W2178799 Unk $11,240 $ 6,745 RS 1 Vehicle 1998, Lincoln Navigator 2 WD, Sold VIN#5LMRU27L8WL44127 Unk $17,840 $10,705 RS 1 Vehicle 1997, Lincoln Towncar 4D Executive, Sold VIN#1LNLM81W7VY605740 G $11,240 $ 6,745 RS 1 Vehicle 1997, Ford Expedition XLT, VIN#1FMEU17LXVLA15025 Unk $11,260 $ 6,755 ME-24 RS 1 Truck 1997, Ford F-150 Super Cab, Sold VIN#1FTDX1760VNA54180 G $ 9,340 $ 5,605 RS 1 Vehicle 1996, Chrysler LHS 4D Sedan, Sold VIN#2C3HC560TH300726 G $ 6,780 $ 4,065 RS 1 Vehicle 1996, Ford Taurus Sedan 4D GL, Sold VIN#1FALP52U7TA180698 Unk $ 4,440 $ 2,665
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[Download Table] RS 1 Truck 1996, Ford F-450 Super Duty, Sold VIN#FDLF47F2TEB65497 Unk $10,240 $ 6,145 RS 1 Truck 1995, Ford F-150 Super Cab Special, Sold VIN#1FTEX15N3SKA55061 Unk $ 5,500 $ 3,300 RS 1 Vehicle 1995, Chevrolet Suburban C1500, Sold VIN#1GKEC16K8SJ700653 Unk $ 9,460 $ 5,675 RS 1 Vehicle 1995, GMC Suburban C1500, VIN1GDEC16K3SJ700339 Unk $ 9,460 $ 5,675 RS 1 Vehicle 1994, Mercury Sable 4D Sedan GS, Sold VIN#1MELM50U8RA645891 Unk $ 3,200 $ 1,920 RS 1 Truck 1994, Chevrolet C1500fleet, Sold VIN#1GCDC14ZGRE198292 G $ 5,260 $ 3,155 RS 1 Truck 1994, Ford F-150 Style Special, Sold VIN#1FTDF15Y7RNB46822 G $ 4,320 $ 2,595 RS 1 Truck 1994, Chevrolet C1500 Fleet, Sold VIN#1GCDC14Z1RZ226063 G $ 5,260 $ 3,155 RS 1 Truck 1994, GMC C1500 Fleet, Sold VIN#1GTEC14K2RE503348 Unk $ 5,260 $ 3,150 RS 1 Truck 1994, Ford F-150 Style Special, Sold VIN#1FTDF15Y3RNB46851 Unk $ 4,320 $ 2,590 RS 1 Truck 1993, Dodge D150 Sweptline, Sold VIN#1B7HE16Y1PS262583 Unk $ 4,520 $ 2,710 ME-25 RS 1 Vehicle 1993, Ford Crown Victoria 4D Sold LX,VIN#2FACP74W0PX146450 G $ 3,660 $ 2,195 RS 1 Truck 1993, Ford F-150 Style Special, Sold VIN#2FTDF15Y0PCB06858 Unk $ 3,600 $ 2,160 RS 1 Truck 1992, Chevrolet C1500 Fleetside, Unk $ 4,320 $ 2,595 Sold VIN#1GCDC14Z8NZ187384 RS 1 Vehicle 1992, Buick LaSabre 4D Custom, Sold VIN#1G4WP53L2NH511408 Unk $ 3,500 $ 2,100
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[Download Table] RS 1 Vehicle 1992, Ford Taurus 4D Sedan GL, Sold VIN#FACP524U7NA208826 G $ 2,060 $ 1,235 RS 1 Truck 1991, Chevrolet C1500 Fleetside, Sold VIN# 1GCDC14Z2MZ168246 Unk $ 2,720 $ 1,630 RS 1 Truck 1991, Nissan Pickup Standard, Sold VIN#1N6SD11S0MC334839 Unk $ 2,720 $ 1,630 RS 1 Truck 1991, Chevrolet C1500 Fleetside, Sold VIN#1GCDC14ZXM200490 Unk $ 3,620 $ 2,895 RS 1 Truck 1990, Ford F-350 Crewcab, Sold VIN#2FTJW35H4LCA5811 Unk $ 4,340 $ 2,605 RS 1 Truck 1990, Chevrolet C2500 Extended Cab, Sold VIN#2GCFC29K0L1173155 Unk $ 4,600 $ 2,760 RS 1 Truck 1990, Chevrolet C1500 Fleetside, Sold VIN#1GCDC14K7LE157543 Unk $ 3,440 $ 2,065 RS 1 Truck 1989, Ford F-250 Styleside, Sold VIN#1FTHF25H0KNB50286 Unk $ 3,180 $ 1,910 RS 1 Truck 1988, Ford F-150 Styleside, Sold VIN#1FTEF15Y0JNA99674 Unk $ 2,440 $ 1,465 1 Truck RS Sold 1984, Datsun Kingcab, VIN#1W6NDO6S5EC367112 Unk $ 1,740 $ 1,130 ME-26 RS 1 Truck Sold 1978, Dodge Pickup, VIN#D14AB8S145458 Unk $ 500 $ 250 RS 1 Truck 1976, Chevrolet Pickup, D150, Sold VIN#CCD146A142440 Unk $ 350 $ 185 RS 1 Van 1996, Dodge Ram 3500, Sold VIN#2B5WB35Z9TK101627 Unk $12,000 $ 7,200 RS 1 Trailer Wells Cargo storage wagon SW8, Sold 5' x 15', VIN#1WC200C19VOY1400769 Unk $ 2,400 $ 1,840
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[Download Table] RS 1 Trailer Custom built, 16' Utility trailer, Unk VIN#TST510814SPLA $ 1,150 $ 690 SUB-TOTAL (ROLLING STOCK) $ 288,560 $ 174,670 ROLLING STOCK NOT SOLD $ 55,880 $ 33,530 $ 232,680 $ 141,140 TOTAL FIXED ASSETS $12,468,385 $9,400,830 ME-27
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CERTIFICATE OF APPRAISER I certify that: 1) to the best of my knowledge the statements of fact contained in this report are true and correct. 2) the reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions and conclusions. 3) I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved. 4) My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. 5) My analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 6) Where applicable to the Purpose and Scope of this appraisal, I have personally made an.inspection of the property that is the subject of this report. (See Purpose and Scope) 7) No one provided significant professional assistance to the person signing this report. WFA/COLLATERAL REVIEW SERVICES, INC. WFA/COLLATERAL REVIEW SERVICES, INC. VL - 3
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APPRAISAL OVERVIEW The appraisal assignment as evidenced by this report was conducted at the request of the client reflecting the client's choice of purpose and scope, and does not seriously contradict the appraiser's advice unless so stated. There are three basic types of appraisals relative to property inspection: Full Inspection, Limited Inspection and No Inspection. If the specified scope is other than Full Inspection, the client and any reader of this report should understand the limitations and assumptions inherent in the specified scope and that "Limited" or "No" inspection can equate to limited information and added assumptions as to existence, usage and conditions. Certain information provided to the appraiser by the client or any agent of the client is assumed to be provided in good faith and be free of any known errors. The listed property, in general, is being utilized for its intended purpose Which the appraiser assumes to be (within reason) the "highest and best" use as designed, unless specified below. Any property not inspected is valued based on this assumption. MARKET OVERVIEW UNIFAB International uses a variety of equipment including construction, manufacturing and fabrication. The market for this type equipment is down 15% - 20% from a high of two years ago. RESOURCES In conducting this appraisal many sources of information were used. Including: 1. WFA records and files 2. The Evaluator books 3. The Green Guide 4. The Book 5. Machinery Trader web site 6. Manufacturers and Manufacturers representatives. WFA/Collateral Review Services, Inc. VL - 4
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PURPOSE, FUNCTION AND SCOPE OF APPRAISAL The purpose and function of this appraisal is to provide an estimate of value of subject property as described by the "Exhibits and Fixed Asset Listing" enclosed. This appraisal is stated in teirits of: Orderly Liquidation Value FORCED SALE LIQUIDATION VALUE REMOVED (For lending security) and is based on one or more approaches to value as indicated below and described in the "Definitions" section of this report. MARKET/SALES APPROACH COST APPROACH (Income Approach was considered and determined not applicable) The scope of this appraisal assignment has been determined by the clients requirements and is subject to limiting conditions and definitions set fourth in this report. This appraisal is classified as a: APPRAISAL - FULL INSPECTION Where applicable, property inspection was conducted by the appraiser or designated representative under advisement of the appraiser. Assumptions 1. All assets listed do exist and are owned by subject firm. 2. There have been no modifications to these assets that would have significant impact on value. 3. Asset conditions are good. WFA/Collateral Review Services, Inc. VL - 5
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CONDITIONS OF APPRAISAL TYPE INSPECTION - The type of inspection performed is determined by the purpose and scope as established between the client and appraiser. The standard method is to inspect all property if reasonable. Options may also include limited inspection or no inspection. (See Definitions - Purpose and Scope of Appraisal VALUE CONCEPT - The value concept used for this appraisal was chosen by the client and may or may not be the most favorable concept for this particular application. (See Definitions - Value Concept and Purpose and Scope) APPROACH TO VALUE - Several approaches to value should be employed by the appraiser. Under certain conditions one or more approaches may be omitted if determined to have no practical application to the subject property. (See Definitions-Approaches to Value and Purpose and Scope) APPRAISAL FEE - The appraiser signing this report is compensated based on a fee determined to be reasonable for the work performed and is not contingent on the value outcome. Further, the appraiser has no other financial interest in the property being appraised. CONDITION OF PROPERTY - The condition of the subject property/assets has been assumed to be adequate relative to original design considering age and normal use unless otherwise noted. This typically applies to Limited Appraisals where individual asset conditions are not considered. (See Definitions-Conditions) OWNERSHIP - All property/assets listed in this report are assumed to be free and clear of any liens or encumbrances and ownership thru valid purchase, title, or other means has not been determined and can not be assumed to have been determined by inclusion in this report. APPRAISER RIGHTS - The appraiser has the right to recall all copies of this report to correct any omission or error. Any omission or error is unintentional and should be brought to the appraiser's attention for correction. Further, under no circumstances shall the appraiser's liability exceed the actual fee charged for the appraisal. The conclusions of value stated in this report are the opinion of the appraiser based on certain facts and information. Therefore the appraiser warrants only that the value conclusion is an estimate based on his/her interpretation of this information and limiting conditions as set forth in this report. WFA/Collateral Review Services, Inc. VL - 6
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TERMS AND DEFINITIONS FAIR MARKET VALUE (FMV) - "The value expressed in cash or cash equivalent which a willing buyer would he justified in paying and a willing seller would be warranted in accepting if each is: 1) well informed or well advised; 2) motivated by reactions of typical users; 3) free from undue stimulus; 4) financially capable of ownership and/or use; 5) allowed a reasonable length of time in which to test the market." For all assets appraised, it also represents the amount a reputable and qualified appraiser, unaffected by personal interest, bias or prejudice, would recommend to a prospective purchaser as a proper price or cost in light of prevailing conditions. This definition IMPLIES Removed Value, where removed means all items listed in the itemized report are assumed to be sold on a "piecemeal basis as is and where is" with the buyer being responsible for removal at their own expense. ORDERLY LIQUIDATION VALUE (OLV) - "The estimated amount in cash or cash equivalent which could be realized over a period of 90 to 120 days at a sale conducted in an orderly and controlled manner by an objective party using limited marketing efforts as dictated by the time requirements and held under economic conditions equivalent to those in place as of the date of this report. This definition IMPLIES Removed Value, where removed means all items listed in the itemized report are assumed to be sold on a "piecemeal basis as is and where is" with the buyer being responsible for removal at their own expense. FORCED SALE LIQUIDATION VALUE (FSLV) - "The estimated amount in cash or cash equivalent which could be realized at a controlled, professionally marketed and conducted public auction or sale using immediate and contiguous disposition held under economic conditions equivalent to those in place as of the date of this report. This definition IMPLIES Removed Value, where removed means all items listed in the itemized report are assumed to be sold on a "piecemeal basis as is and where is" with the buyer being responsible for removal at their own expense. No consideration is given to the effect of the sale/removal of items on the value of other items the sale since the order of sale is not under control of the appraiser and buyer motivation m change based on the order of sale. WFA/Collateral Review Services, Inc. VL - 7
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FAIR MARKET VALUE - IN PLACE (FMV-IP)- "The value expressed in cash or cash equivalent which a willing buyer would be justified in paying and a willing seller would be warranted in accepting if each is: 1) well informed or well advised; 2) motivated by reactions of typical users; 3) free from undue stimulus; 4) financially capable of ownership and/or use; 5) allowed a reasonable length of time in which to test the market." Value consideration is given to the property IN PLACE for the purpose of continued use. This includes added value for transportation, installation, set-up, permitting, etc. In-Place value assumes ownership of or legal right to use of any facility in which subject property resides and that the subject property will be utilized to its highest and best use. No consideration is given to the effect of the sale/removal of individual items on the value of other items in the sale since it is assumed all assets are sold as a group. ORDERLY LIQUIDATION VALUE - IN PLACE (OLV-IP)- "The estimated amount in cash or cash equivalent which could be realized over a period of 90 to 120 days at a sale conducted in an orderly and controlled manner by an objective party using limited marketing efforts as dictated by the time requirements and held under economic conditions equivalent to those in place as of the date of this report. Value consideration is given to the property IN PLACE for the purpose of continued use. This includes added value for transportation, installation, set-up, permitting, etc. In-Place value assumes ownership of or legal right to use of any facility in which subject property resides and that the subject property will be utilized to its highest and best use. No consideration is given to the effect of the sale/removal of individual items on the value of other items in the sale since it is assumed all assets are sold as a group. FORCED SALE LIQUIDATION VALUE - IN PLACE (FSLV-IP) - "The estimated amount in cash or cash equivalent which could be realized at a controlled, professionally marketed and conducted public auction or sale using immediate and contiguous disposition held under economic conditions equivalent to those in place as of the date of this report. Value consideration is given to the property IN PLACE for the purpose of continued use. This includes added value for transportation, installation, set-up, permitting, etc. In-Place value assumes ownership of or legal right to use of any facility in which subject property resides and that the subject property will be utilized to its highest and best use. No consideration is given to the effect of the sale/removal of individual items on the value of other items in the sale since it is assumed all assets are sold as a group. WFA/Collateral Review Services, Inc. VL - 8
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REPLACEMENT COST (RPLC) - An amount expressed in cash or cash equivalent which one would pay to obtain, transport and install the same item or closest matching in performance, to the item being appraised. This value may be greater than original cost depending on inflation, availability, location, etc. REPRODUCTION COST (RRDC) - An amount expressed in cash or cash equivalent which one would expect to pay to transport and install a newly constructed replica (including all design and engineering costs) of the subject asset. COST APPROACH - An estimate of value based on replacement cost less depreciation. Depreciation may be physical deterioration due to age and use; decreased functionality due to technology, changes in product standards, etc.; or economic factors such as management decisions, depressed market conditions for the product(s) produced by the item or government regulations. This approach is best used as a support for other approaches. MARKET/SALES COMPARISON APPROACH - Value based on comparison with similar items sold or listed for sale in the common market for this type of item. Comparison is made on "like levels" such as unconditional sale to fair market or auction sale to forced liquidation value, etc. Other factors may or may not be applied, such as comparable age, condition, location, etc. Comparisons are made on a "closest like kind" basis where exact comparisons are not available. INCOME APPROACH - This approach to value is NOT often used for individual items of machinery and equipment but can provide a guide' and is useful in conjunction with other approaches. The income approach supports an estimate of value based on analysis of future earnings and remaining life of subject property. FULL INSPECTION - A full inspection indicates all items listed have been inspected. While most items are considered to be inspected individually, some "Lots" may be inspected as such and not by individual piece due to their size, quantity and relative weight to the overall appraisal. LIMITED INSPECTION - Specific items are selected for inspection and considered representative of all items in terms of condition, care and accuracy to records provided. This is most common with rental assets that may be difficult to inspect due to location. Items not inspected are reflected as "UKN" condition. WFA/Collateral Review Services, Inc. VL - 9
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NO INSPECTION - In some cases an appraisal of property may be conducted based on information provided to the appraiser by the client without physical inspection. Assumptions are often made by the appraiser in conducting such an appraisal. ENVIRONMENTAL IMPACT - The appraiser makes no environmental impact studies relative to subject property and does not imply any compliance or lack of compliance to environmental laws by the values assigned in this report. While a value may reflect the effects of compliance, the appraiser is not responsible to monitor, report or in any way control compliance to environmental issues. VALUE ANALYSIS The values stated in this report are based on the stated approaches to value and reference material as listed below. Every item listed may not have applicable information within all the stated approaches and therefore may be limited to only one approach. The listed references were used as an aid in determining the value characteristics and contribute to the conclusion of value(s). 1. WFA records and files relating to value. These may be prior projects/research reflecting values, costs, trends, formulas, etc. WFA/Collateral Review Services, Inc. VL - 10
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CONDITION CODES These condition codes apply to Full and Limited Inspections only and are used to describe the apparent condition of an item or items at the time of inspection. WFA/COLLATERAL REVIEW SERVICES, INC. cannot assume responsibility for any latent defects not discernible upon inspection. Equipment not functional in the ordinary course of business will be so stated in this report. VG - Very good, excellent condition with no requirement for repairs and usually considered above average; would be longer than average before any required maintenance. G Good condition, usually considered average to that which would be expected for an item of like age and utility; would require standard continued maintenance. F Fair condition, generally considered below average but operable; could use repairs or improvement; questionable continued or extended use. P Poor condition, may or may not work and in all likelihood requires maintenance for even the most limited use; needs immediate attention. S Salvage condition, considered as such where function is completely diminished and the property is considered usable for parts only. X - The property has no function and is not adequate for salvage. Value relates to material content only. UKN- Unknown at the time of application. This is used where a determination could not be made for various reasons. This could mean the item was not totally accessible or conditions made proper inspection difficult. WFA/Collateral Review Services, Inc. VL - 11
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QUALIFICATIONS GRADY A. JOINER THE WFA GROUP WFA/COLLATERAL REVIEW SERVICES, INC. EXPERIENCE & BUSINESS BACKGROUND Executive Vice President The WFA Group WFA/Collateral Review Services, Inc. Appraisal Services 1984 - Current Receivables / Inventory Reviews Appraisals / Valuations Manager of Data Processing Texas Instruments, Inc. Exploration Group Southeastern U.S. / Latin American Division 1978 - 1985 MEMBERSHIPS American Society of Appraisers NACM of South Texas, Inc. Texas Bankers Association WFA/Collateral Review Services, Inc. VL - 12
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EDUCATION Finance and Accounting Executive Development Program Jesse H. Jones Graduate School of Administration Rice University APPRAISAL AND RESEARCH ASSIGNMENTS Machine Tools Fabrication Equipment Industrial Equipment Food Processing / Restaurant Equipment Trucking / Automotive Packaging Equipment Farming / Greenhouse Printing Equipment Electronics Office Equipment / Furnishings Medical / Dental Equipment Commercial Audio/Video Equipment Heavy Construction Equipment Laundry & Dry-Cleaning Equipment Mining and Railroad Equipment Aircraft and Aircraft Support Equipment Special Use Equipment Various Product Inventories REFERENCES AND /OR SPECIFIC ASSIGNMENTS FURNISHED UPON REQUEST. WFA/Collateral Review Services, Inc. VL - 13
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