NORTHBROOK, Ill., May 25, 2016 (GLOBE NEWSWIRE) -- Hilco Industrial (www.hilcoind.com), a unit of Hilco Global, announced the completion of a machinery and equipment asset sale for Concept Industries, Inc. The Grand Rapids, MI based company ceased operations in November 2015, according to documents filed with the state.
Hilco Industrial (www.hilcoind.com) was retained by the estate in partnership with Miedema Asset Management to conduct the asset sale which was successfully completed on March 29, 2016.
All of the company's manufacturing machinery and equipment was sold at auction including: Needlers; Feed & Blending Lines; Complete Panel Line; Thermoformers; Lamination Line; Cut-Off/Slitting Line; Presses; Inspection & Laboratory Equipment; Fabrication Equipment; and Rolling Stock.
Concept Industries had been in business since 1984 and was one of the nation's premier automotive aftermarket suppliers. The company manufactured and distributed Returnable Packaging Systems, Vacuum Formed Plastics and Non-Woven Fiber Products for the automotive, office furniture and other industries. The company provided expertise in fibers, blends, processing and manufacturing of natural and synthetic fibers to achieve specific acoustic and structural properties. For additional information on the assets, visit www.hilcoind.com or contact:
John Magnuson
Hilco Industrial
Email: jmagnuson@hilcoglobal.com
Telephone: +1 847-504-3204
Steve Wolf
Hilco Industrial
Email: swolf@hilcoglobal.com
Telephone: +1 616-466-7079
About Hilco Industrial: Hilco Industrial (www.hilcoind.com) provides industrial asset acquisition and disposition services, specializing in machinery, equipment and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. Hilco Industrial buys and sells assets through on-site, online and combination webcast auction sale events as well as negotiated (private treaty) sales. In addition to providing services on a fee or commission basis, Hilco Industrial puts capital at risk and often acquires assets or provides guarantees. Hilco Industrial is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory, operational consulting and strategic capital equity investments.
Media Contact:
Gary Epstein
EVP-CMO
Hilco Global
Office: 847-418-2712
Mobile: 847-323-4943
Email: gepstein@hilcoglobal.com