Five months after filing for a suspension of payment, Enkhuizen, Netherlands-based Draka Polymer Films was declared bankrupt on July 11. An initial attempt by Starboard Restructuring Partners, an investment company from Brazil, to stave off the failure of the company, came to nothing when the deal proposed by Starboard was rejected by several of Draka’s creditors. Around 150 employees have lost their jobs.
The assets of Draka Polymer Film have since been acquired by Hilco Industrial Acquisitions bv, a company specialised in the acquisition and disposition of industrial capital assets, and part of Northbrook, Illinois-based Hilco Global, an independent, internationally operating financial services company. The deal includes all machinery and equipment, inventories and intellectual property rights, among which four major production lines; “all well-maintained”, four and five roll calender production, printing, painting and cutting lines.
Hilco Industrial Acquisitions has announced it will now start marketing the assets through a combination of private treaty sales and online auction events, although in a written statement to PNE, Darko Pepovski, vice president of Marketing at Hilco, said a buyer who might want to take over the entire business would also be a possibility. "We are offering it as a turnkey opportunity including all IPRs, tradenames, inventory and machinery," he said.
“The receivers handled the sale of the assets in a quick, professional, fair and transparent bidding process," said Ernst Rost Onnes, vice president of Hilco.
"We were the winning bidders for the entire package of assets. We offered the estate a solution to use the machines to finish production of certain orders for the remaining customers.”
The firm ceased operation 2 Aug.