Hilco Industrial Successfully Completes Auction of Premiere Michigan-based Manufacturer of Plastic, Foam and Synthetic Fiber Products

25-May-16

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: