In order to continue operations during the bankruptcy process, Katerra secured $35 million from the Softbank Group, which has helped the company out with funding several times.
The assets – most important of all the production in Spokane, Washington – can be acquired at an auction. The starting bid (“stalking horse bid”) can be placed until July 22. Last year, the two Klausner sawmills were also sold at an auction and Binderholz of Fügen purchased both of them. At the time, the stalking horse bids came from Mayr-Melnhof Holz and Mercer.
US media speculate that European bidders will participate this time as well. $150 million are said to have been invested in this production site which is up for sale. However, with its predefined dimensions, production is much less flexible than in European plants.
