Five parties showed interest in taking over the BelGaN chip factory. However, none of the bids provided sufficient certainty about the factory’s future and the retention of personnel. BelGaN will, therefore, close for good.
Belgium’s only chip factory will close for good. After a two-week delay to go through the proposals of possible acquirers, none proved worthy. “They are far below liquidation value. There are few or no guarantees for the personnel in terms of re-employment. And payment guarantees are missing,” said co-curator Ali Heerman.
Five candidates showed interest in a takeover, and the curators reviewed three concrete proposals. “We are pulling the plug. The highest offer is not even half of the liquidation value of 50 million euros,” Heerman states.
Much value in staff and contents
The workforce numbered 440 members. In the first days of August, they were told that the owners of the Oudenaarde-based chip factory had filed for bankruptcy. The curators appointed to follow up on this bankruptcy hoped to find an acquirer.
Since then, only a small group of workers has been able to work at the plant to ensure the safety of the facilities. The curators are considering whether this group can continue their work until the inventory is sold.
Due to the technical and specialized knowledge present among the workforce, it is expected that most will find other jobs soon. There is also the plant’s specialized inventory. Its value is estimated at 50 million euros.
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