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Hungary: Hajdúnánás Lux factory for sale

Banking

Liquidation of Hajdúnánás Lux Component Manufacture Kft started on June 28 - reports daily Napi Gazdaság.

The procedure is managed by Yplon Asset Management and Liquidation Kft, and now parts of Hajdúnánás Lux are offered for sale, including two sites (66,000 square meters and 16,000 square meters) for Ft 2.3 billion + tax ($12.7 million + tax), while the machinery is offered for Ft 450 million + tax ($2.5 million + tax). The buyer will have to guarantee further employment of the current staff of 200.

The factory went bankrupt, because freezer manufacturer Electrolux’s Hungarian site, Hajdúnánás Lux’s only contractor, found another supplier after Hajdúnánás Lux increased the price of components by 27%. Owner of Hajdúnánás Lux, Bakony Works (part of Bankár group) itself has gone bankrupt and went under liquidation. Yplon has come up with a plan to reorganize Hajdúnánás Lux, and the government is ready to assist by rescheduling payoffs on subsidies paid to the factory earlier. Now Yplon is looking for an investor that can resume production and guarantee continued payoffs. Offers can be submitted on October 5 at 11:00 a.m. to 12:00 p.m. Applicants have to pay security or provide bank guarantees for the price. Yplon hopes to contract with the new investor by the end of October. (Napi Gazdaság)

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