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Press Release
DOVEBID® AND RABIN WORLDWIDE TO CONDUCT SERIES OF WEBCAST AUCTIONS FOR HERSHEY FOODS CORPORATION
FOSTER CITY, CA (October 28, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services, in conjunction with Rabin Worldwide, today announced it will conduct three Webcast auctions for Hershey Foods Corporation. The upcoming auctions are part of a series of auctions that DoveBid and Rabin Worldwide are conducting on behalf of Hershey. The auctions will feature assets no longer required by Hershey in its manufacturing operations.
The first auction will take place on November 12, 2002 at 10:00 a.m. Eastern Time in New Brunswick, New Jersey. The first sale will feature assets from a recently closed starch moulding factory, including NID starch moulding systems, assorted cooking and mixing kettles, stainless and copper coating pans, and general plant equipment.
The second auction will take place on November 14, 2002 at 10:00 a.m. Eastern Time in Lebanon, Pennsylvania. The second sale will include a large inventory of well-maintained production and packaging assets. Featured assets include Bosch and Ter Braak vacuum cookers, Hilliard and WC Smith mini coating /melting items, Greer 32" wide chocolate coated caramel / nut cluster line, complete NID model 201 starch moulding system with Vortex dryer / cooler, and Blommer storage tanks.
The third auction will take place on December 10, 2002 at 10:00 a.m. Mountain Time in Wheatridge, Colorado. Assets featured at the third sale will include Baker Perkins hard candy lines, Baker Perkins moulding plant, Theegarten U1/F1 stick pack lines, and Forgrove 42C cut and twist wrapping lines.
To participate in these auctions, buyers may bid live via the Internet at www.dovebid.com or attend in person. To preview assets, please visit www.dovebid.com for locations and dates.
About DoveBid®
DoveBid, Inc. is a global provider of capital asset auction and valuation services to large corporations and financial institutions. DoveBid delivers an integrated set of services to its customers for the disposition, valuation and redeployment of their surplus capital assets. DoveBid offers an array of auction services to meet its customers’ specific needs, including Webcast auctions broadcast live over the Internet, on-site-only auctions, Internet featured online auctions and privately-negotiated sales. DoveBid Managed Services offers clients a hosted, Internet-based application to monitor surplus assets inside the corporation. DoveBid Valuation Services uses its database of transaction information to provide valuations of capital assets for financial institutions and large businesses.
Headquartered in Foster City, California, DoveBid has over 65 years of auction experience in the capital asset industry with more than 40 locations throughout North America, Europe and the Asia-Pacific region. More information on DoveBid can be found at http://www.dovebid.com or by contacting company headquarters at (800) 665-1042 or +1 (650) 571-7400.
DoveBid and the DoveBid logo are registered trademarks of DoveBid, Inc.
About Rabin Worldwide
Rabin Worldwide, Inc. provides comprehensive financial solutions for businesses in transition, from Fortune 500 companies and private industry, to financial institutions, receivers, trustees and courts.
Originally founded as an auctioneering and appraisal partnership in 1952, Rabin Worldwide became a privately held corporation in January of 2001. The company has handled a variety of high-profile liquidations including the 2002 sale of over 600 Penske Service Centers. Rabin conducts several multi-site and webcast internet auctions yearly in the manufacturing, processing and packaging industries for international corporations such as Nestlé, Procter & Gamble, Dow Brands and Kraft.
Headquartered in San Francisco, Rabin has offices in London, as well as satellite locations spread across North America, and a network of international affiliates in Canada, France, Germany, the Middle East and Southeast Asia. The company appraises and/or liquidates over 150 million dollars in commercial and industrial assets annually.
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DoveBid Contacts:
Cammeron Finnegan
Director, Investor Relations
DoveBid, Inc.
(650) 377-2762
cfinnegan@dovebid.com
Shanta A. Kohli
Marketing Communications Manager
DoveBid, Inc.
(650) 377-2650
skohli@dovebid.com
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