Liquidators have put telecommunications infrastructure company African Cellular (AC) Towers equipment on auction, selling the assets for approximately $2.8 million.

This is according to Paul Lendia, the general manager for operations of South Africa’s Park Village Auctions.

Lendia’s firm has helped liquidators handle the auction of the “entire contents” of the African cellular mast and overhead power line tower manufacturer last week Wednesday. The auction took place at the Africa Cellular Park, south of Johannesburg.

In July, AC Towers was served its final liquidation order by South Africa’s South Gauteng High Court, according to a story appearing on ITWeb.

The company had battled to secure funding, with dwindling revenues and rising debts adding further pressures on the firm. Financial results of AC Towers, for the six months to August last year - published in December 2011 - reported a net loss of $6.68 million.

The listing of AC Towers on the alternative section of the Johannesburg Stock Exchange, the AltX, was also suspended this year, following its share price having tumbled 33.3% towards the end of May.

Subsequently, liquidators have put the company’s assets up for auction last week, with between 300 to 400 people having shown interest in purchasing the embattled company’s equipment, according to Lendia.

Equipment on sale has included 206 items ranging from custom built hydraulic presses, 3 tonne overhead cranes, forklifts and body trucks.

Between 300 to 400 bidders attended the auction and all 206 items have been sold, according to Lendia.

"It makes it an exceptional auction," Lendia told ITWeb Africa.

However, according to another representative of Park Village Auctions, it could take two to three weeks to confirm bidders’ payments and the total amount of money that the assets have been sold for.