GM To Sells Off Old Assets, Including A Church, Golf Course
Published: October 21st, 2010
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General Motors auctioned off assets from the “old GM” that existed before the company’s bankruptcy filings in 2009. The sale, which lasted for more than 10 hours and was broadcast online, was largely composed of heavy machinery and plant equipment.
The assets come from GM’s Livonia plant, which built the Northstar V8 engine for high-end GM vehicles like Cadillac. The machinery was sent to countries including Turkey, Mexico and India. More interestingly, GM is also planning to offload property that includes an Indiana church, a golf course in New Jersey and thousands of robots used to assemble cars.
[Source: The Detroit News]
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