Deloitte, administrator to Happich Profiles Limited in Castle
Bromwich, has announced the sale of the business for an undisclosed
sum.
The sale to EMKA Beschlagteile GmbH & Co. KG was completed
on 30 September 2009, and the business will continue to operate
from its Castle Bromwich site with all 37 employees transferring to
the new company.
Happich Profiles Limited manufactures rubber extrusions and
steel inserted products for commercial vehicles, including the bus,
truck, agricultural and construction sectors.
Dominic Wong and Matt Cowlishaw, both from Deloitte's Birmingham
office, were appointed as Joint Administrators to Happich Profiles
Limited and Happich Vehicle & Industrial Components Limited in
August.
Dominic Wong, partner in the reorganisation services practice,
said: "We are delighted to have successfully completed a
transaction that preserves 37 jobs and a manufacturing business on
this important site.
"Whilst we were confident that there would be interest in this
business, we are pleased with how we were able to work with the
administrator of Happich's German parent company to achieve a
fantastic result for UK creditors."
The administrators are still seeking a buyer for Happich Vehicle
& Industrial Components Limited, which sells components, parts,
accessories and assemblies for the transport industry, principally
for the bus and truck sector.