The bidding will start at over $12 million. At least three companies plan to participate in the bidding and company that wins could bring life back to Ingersoll.
Two Rockford companies, IMTA Manufacturing Technology and Automation Company and Bourn and Koch will join Magnum Technologies and perhaps other bidders at the auction Tuesday.
Canadian based Magnum Technology has presented the first bid for Ingersoll at over $12 million. The auction will be held Tuesday in Chicago.