Techniplas says Revere stalking horse bidder for non-designated assets

By Caroline Salls

Pittsburgh, June 8 – Techniplas, LLC selected Revere Plastics Systems, LLC as a stalking horse bidder for its “non-designated assets,” according to a notice filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The notice did not disclose the amount of Revere’s stalking horse bid.

If Revere is not the winning bidder for the assets, Techniplas will pay it a $57,000 break-up fee and reimburse $66,500 of its sale-related assets.

The auction is scheduled for June 9, and the sale hearing will be held on June 12.

Techniplas is a Nashotah, Wis.-based plastics manufacturer. The company filed bankruptcy on April 6 under Chapter 11 case number 20-11049.

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