R-Glass Hungary offers company assets for sale for third time

The liquidators of bankrupt glass container manufacturer R-Glass Hungary have offered company assets for sale for a third time, following two unsuccessful attempts, according to liquidation Manager Mi…

The liquidators of bankrupt glass container manufacturer R-Glass Hungary have offered company assets for sale for a third time, following two unsuccessful attempts, according to liquidation Manager Mikls Balzs. The company, which is up for sale for just over HUF 1 billion, has now received serious interest from three bidders, which are expected to submit an offer by mid-August. Major assets of R-Glass Hungary include an 8-hectare plot in Salgtarjn, northern Hungary, where the glass plant“s 49 manufacturing units occupy 4 hectares. The plant has three self-sufficient water supplies and gas heated furnaces, which will enable to start on normal operations quickly once the company is sold. The current liquidation procedure of R-Glass started in 2009 when the company was still operational, with a staff of 277. The company has had a history of liquidations and is bogged down by HUF 1.5 billion debt to creditors.