Sun Capital Affiliate Buys Vitro America Assets at Auction
June 2, 2011

American Glass Enterprises purchased the assets of Vitro America LLC and three other indirect Vitro subsidiaries, including Binswanger Glass, through an auction yesterday in Dallas. The purchase price was around $61 million.

American Glass Enterprises is an affiliate of Sun Capital.

The bidders during yesterday's auction also included Grey Mountain, a private equity firm in Colorado that will now serve as the back-up bidder, and VI Industries, an affiliate of the Mexico-based steel company Villacero.

Before the sale is complete, Vitro America in consultation with the creditors committee must seek approval from the U.S. Bankruptcy Court for the District of North Texas.

Stay tuned to glassBYTEs.com™ for more details as they emerge.

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