FARAME INSOLVENCY AUCTION YIELDED €4.6 MILLION

The In-Person Auction of FARAME SA insolvency (17761/23.1T8SNT) took place yesterday, June 12, at the insolvent's premises in Sintra. The public auction allowed the sale of the entire Industrial Unit for €4,600,000.00.

Starting shortly after 2:30 PM, the Auction lasted 10 minutes. The registered bidders bid, at Farame's full premises, for the Complete Industrial Unit.

The event attracted approximately 70 registered participants for the public auction. Furthermore, the interested investors came from various sectors – hardware, DIY, transport, distribution, civil construction, health, and retail. This circumstance fostered the competition among bidders and allowed the auction to open with a bid of €3.6 million. As a result, after 10 bids, the winning bidder was awarded the Farame Industrial Unit for €4,600,000.00.

The Complete Industrial Unit

The insolvent's liabilities consisted of a complete and operational Industrial Unit for the Logistics and Storage Sector. The assets were valued in total at €3,542,291.68 (Base Sale Value), with a Minimum Value of €3,040,747.68.

In summary, as previously described here, the 119 lots included an industrial property, movable goods, and industrial property.

The Industrial warehouse includes outdoor space, 2 loading docks, a guard house, and a wastewater treatment plant (ETAR), and is located in Rio de Mouro. It is a large property, as can be seen by the areas: 19,400.00 m² (total) and 7,450.00 m² (covered). Among the remaining 118 lots, highlights include welding robots, galvanizing, painting, and mesh lines, stock, and raw materials. The national brand “FARAME” was also for sale.

About Farame

Founded in 1983, Farame manufactured and marketed complete ranges of fixed or mobile logistics products for transport and storage. In fact, its extensive range of products in wire, steel tube, and sheet also incorporates plastics and woods. Additionally, it developed products with surface coatings (galvanizing and painting) for various market segments.

With over 40 years of history, from 2009 to 2012 it was known in the market as Caddie Portugal (French Group Caddie). However, it returned to the name Farame in 2012, the same year it became part of the French Group Aryes.

The assets of the company headquartered in Sintra meet the needs of multiple sectors. Namely: logistics and storage, automotive, industry, viticulture, and agri-food.

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Article by Cloe Mattos by LEILOSOC® dated June 13, 2024