FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Hilco Industrial, LLC, a leading distressed asset disposition and
acquisition company, and its joint venture partners, announced the sale
of an aluminum foil production facility, formerly owned by Aleris
International, a global producer of aluminum rolled and extruded
products, recycled aluminum, and specification alloys.
The plant, located in Three Rivers, Quebec, Canada, was purchased by the
joint venture from the estate of the bankrupt company for $10.5 million.
Hilco then launched a worldwide marketing campaign to sell the facility
in its entirety. An auction was staged on March 10, 2010, which drew
more than 200 bidders. The winning bid for the facility in its entirety
was from an undisclosed buyer located in the Peoples Republic of China.
About Hilco Industrial, LLC
Hilco Industrial provides industrial asset disposition services,
specializing in selling machinery, equipment and inventory auctions and
negotiated sales. It sells the broad range of industrial assets found in
manufacturing, wholesale and distribution companies through on-site,
online and combination “webcast” auction sale events as well as
negotiated (private treaty) sales. Hilco Industrial is headquartered in
Farmington Hills, Michigan, and maintains offices in key cities in North
America and the United Kingdom. It is a unit of Hilco Trading, LLC, an
international leader in asset valuation, acquisition, disposition and
advisory services.