Family die business closing after 71 years, auction scheduled for Aug. 28
Luginbill Die Co., Co., Inc., a fifth-generation die business located in New Haven, Indiana, USA, is ceasing operations and will sell off all of its equipment, inventory and real estate at an auction on Wednesday, Aug. 28.
"We've been roughing it for a while," said Joy Luginbill, the company controller and wife of President Kip Luginbill, who cited competition from low-cost foreign dies as forcing them out of the market. She noted that her and Kip were near retirement age and that their sons (Chip, Gy and Ty) have had job offers both in and out of the die industry, so now is a good time to close down the family business. She said that the company, which at its zenith had employed 50 people, had seen those numbers pared down over the years to 18 to 20, and more recently just to a skeleton crew. Joy said that barring a potential buyer coming forward to purchase all the equipment and/or the property, the focus is now on getting the word out about the auction, which will also be held on-line.
The list of sale items includes: over 15,000 new and used diamond and carbide dies; 100 carats of loose industrial diamonds; 50,000 carats of diamond powder; a diamond lapping wheel; various sizes and types of single crystal; various PCD nibs unmounted; 10 lathes; 29 drills; 126 various wire machines; 7 ultra fine scales for diamonds; 25 micrometers; 15 microscopes; 3 wire powder spray guns; 4 wire pullers; 6 sonic Sonicor ultrasonic cleaners; large quantity of drill rod; 20 Vidmar cabinets; 3 large safes; 2 hydraulic presses; 25 ten spindle drilling machines; 36 heads for fine die wire machines; 60 heads for medium wire dies; 45 heads for ultra fine wire dies; 14 heads for large wire dies; spinners, wire burners, die threading machines, huge quantities of steel, copper and tungsten wire, and lots more.
The range of equipment is posted at the website of Charleston Auctions (www.charlotteauctions.com. More than 450 items are listed for sale. To see the list and pictures, click on "View Catalog" and then "Preview Inventory and Place Bids."
The property, an office-warehouse combination, is located at 110 Rose Ave. The 11,000-sq-ft building, built in 1957, has concrete block construction, and is on a 1.83-acre parcel zoned for light industrial.
The inspection period for the auction is Tuesday, Aug. 27, from 9 am to 5 pm. The equipment sale will start at 9 am and the real estate will be sold at noon. Removal date for equipment is from 9 am to 5 pm on Thursday, Aug. 29, Aug. 30th and Sept. 3-6. Payment is due by Friday, Aug. 30, at 5 pm EDT.