BACKGROUND :
Gruber & Kaja High Tech Metals GmbH’s parent company HTI in Austria filed for insolvency in 2019, Initially the Insolvency Administrator tried to sell the company as a going concern. However, the uncertain environment in the automotive industry was the reason why no investor was found.
TYPE OF SALES :
– Private Treaty Sales- Few Auction Sales in 2020/2021
EQUIPMENT :
The Machinery & Equipment at the Gruber & Kaya’s manufacturing facility was recent and very well maintained; 24 fully automated die casting machine lines (500t – 2000t clamping force); 25 machining centres – 3 of which are fully automated and Assembly for component production (e.g.: dispensing system for seals). With the provision of ready-to-install Die-cast aluminium components G&K supported car manufacturers and their Suppliers with high quality requirements, complexity and security of supply. Their continuously improved products and processes were used for many years by famous companies like VW, Audi, BMW, Wabco and KTM for significant efficiency and longevity.
TRANSACTION :
Gruber & Kaja’s Leasing Company (owner of the Machinery &Equipment) appointed Hilco and Netbid, a German auction house, in the summer of 2020 to dispose of all Machinery & Equipment and handle the project management on behalf of them.
HIGHLIGHT :
In the third quarter of 2020 we started the Private Treaty Sales, which lasted for a little over 6 months and early 2021 we held Online Auction Sales and we finished the project in the middle of 2021. Most of the machines were sold to buyers from Europe and Turkey however some were sold to Asia and Canada.
CONCLUSION :
This was a good project, due to excellent planning from both parties, the execution went very smooth, and all finished in time.
