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Hilco Industrial Completes Sale of S&S Steel Services Assets

May 09, 2016, 07:55 AM
Filed Under: Industry News

Hilco Industrial, a unit of Hilco Global, announced the successful completion of the sale of the assets for S&S Steel, Inc. The sale was part of a collaboration between Hilco Industrial, Ohio-based Yoder Machinery, and Pennsylvania-based Quaker City Auctioneers that was completed via live webcast auction on April 19, 2016.

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, Inc. operated out of Anderson, Indiana since 1986. The company 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 & plasma cutters, Cincinnati shears, and flatbed trailers. The sales from the webcast auction exceeded expectations.

Hilco Industrial provides industrial asset 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 performs dispositions 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 has capital to put at risk and often acquires assets or provides guarantees.

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