Hilco Industrial Completes Sale of Aleris Aluminum Foil Plant

2010-03-23

Hilco Industrial, LLC, a leading distressed asset disposition and acquisition company, and its joint venture partners, recently announced the sale of an aluminum foil production facility, formerly owned by Aleris International, a global producer of aluminum rolled and extruded products, recycled aluminum, and specification alloys. The plant, located in Three Rivers, Quebec, Canada, was purchased by the joint venture from the estate of the bankrupt company for $10.5 million. Hilco then launched a worldwide marketing campaign to sell the facility in its entirety. An auction was staged on March 10, 2010, which drew more than 200 bidders. The winning bid for the facility in its entirety was from an undisclosed buyer located in the Peoples Republic of China.