Hilco Completes Sale of S&S Steel Assets
Assets sold through the auction were coil slitting lines, coil cut-to-length lines, laser and plasma cutters, Cincinnati shears, and flatbed trailers.
Posted: May 18, 2016
Hilco Industrial (Northbrook, IL), a unit of Hilco Global (Northbrook, IL), announced the successful completion of the sale of the assets for S&S Steel, Inc. (Anderson, IN). The sale was part of a collaboration between Hilco Industrial, Yoder Machinery Sales (Holland, OH) and Quaker City Auctioneers, Inc. (Philadelphia, PA) that was completed via a live webcast auction.
The U.S. Bankruptcy Court gave an order approving the sale of substantially all its assets of S&S Steel Services, Inc. on January 11, 2016. The assets included all tangible personal property and leasehold improvements, all intellectual property rights including rights to the name “S&S Steel” and intangible assets and the purchased inventory.
S&S Steel operated out of Anderson, IN since 1986 and provided slit narrow width coils, round edge coils, cut-to-length strips, sheared-to-size blanks, and leveled sheets from mild carbon steel to the metal stamping and roll forming industries. Among the assets sold through the auction were coil slitting lines, coil cut-to-length lines, laser and plasma cutters, Cincinnati shears, and flatbed trailers. The sales from the webcast auction exceeded expectations.
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