Katerra gets OK to sell California assets to Volumetric affiliate

By Sarah Lizee

Olympia, Wash., Aug. 4 – Katerra, Inc. received approval from the U.S. Bankruptcy Court for the Southern District of Texas to sell its Tracy, Calif., facility and related assets to VBC Tracy LLC, an affiliate of Volumetric Building Cos., according to a press release from Volumetric.

The purchase price includes a cash payment of $21.25 million, minus the real and personal property tax adjustment, and assumed liabilities.

Katerra is a technology-enabled construction company based in Menlo Park, Calif. The company filed bankruptcy on June 6 under Chapter 11 case number 21-31861.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.