BACKGROUND :
Va-Automotive, in Hässleholm and its subsidiary VA-Tooling AB in Tyringe, Sweden, a well known Swedish Tier 1 supplier of metal components to the Automotive Industry, entered into bankruptcy in May 2018. The Receiver continued the business in Hässleholm for a period of almost one year, while the business in Tyringe closed in June 2018.
TYPE OF SALE :
– Private Treaty Sales- Series of Online Auction Sales
EQUIPMENT :
VA-Automotive in Hässleholm; Fully fitted Press- Welding- and Assembly Shop in HässleholmVA-Tooling AB in Tyringe; Tool & Die Shop with Try-Out Presses.
TRANSACTION :
The receiver sold the Machinery & Equipment of both businesses to the highest bidder, Hilco paid immediately when the assets became available. Hilco entered into a contract with the receiver in October 2018 and started immediately selling the Machinery & Equipment from VA-Tooling in Tyringe and started preparations to market the Machinery & Equipment in Hässleholm, while the factory was still in production.
HIGHLIGHT :
Hilco sold most of the larger Presses by Private Treaty and conducted two major auctions, December 2018 in Tyringe for the Tool & Die Machinery and May 2019 in Hässleholm, both auctions were very successful. The smaller equipment was sold in 4 different online auctions before and after the summer of 2019. Most of the Buyers for the Equipment were European and Middle Eastern companies.
CONCLUSION :
The sale and removal were planned to take us 14 months; however we managed to return the facilities within 12 months without any problems.
