Hilco takes over assets of bankrupt Draka

Upon the bankruptcy of Draka Polymer Films B.V., Dutch asset acquisition firm Hilco Industrial Acquisitions has acquired the company. The acquisition includes all machinery & equipment, materials and intellectual property rights. Hilco says there are four major production lines; “all well-maintained”, four and five roll calender production, printing, painting and cutting lines.

Hilco says it will start marketing the assets through a combination of private treaty sales and online auction events.

Set up 54 years ago, the Netherlands-based Draka covered a wide variety of markets such as stationery, tapes, decorative and paramedical. It specialised in films for office products, promotion and printing industry with more than 100 designs and 300 stock items under its Peacock collection. It provided coating, printing, embossing, laminating and slitting services in-house.

Ernst Rost Onnes, Vice-President of Hilco in the Netherlands, commented on the transaction: “The receivers handled the sale of the assets in a quick, professional, fair and transparent bidding process, 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.”

Hilco, part of US-based Hilco Global, provides industrial asset acquisition and disposition services, specialising 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.