The group, which had plants in Gillingham and Kettering, went into administrative receivership five months ago and closed two months later.
The sale of kit to foreign firms is good news for the packaging sector, which was described as a dam ready to burst by MY Holdings chief executive John Monks earlier this year (PrintWeek, 28 February).
Crests receivers, BDO Stoy Hayward, appointed Atis Real Weatheralls to sell the kit, including two eight-colour and two six-colour Cerutti gravure presses.
The auction [on 17 July] went very well, but the big production equipment was sold at a private treaty prior to the sale, said Roger Cutting, associate director of Atis Real Weatheralls.
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"It's wrong to assume the Chinese are behind the curve on automation - it used to be the case that manual processes were kept becuase it was cheaper to use them than buy the automated equipment,..."
"Incredible, what a business!"
"Sad news. Their prices were unsustainable - it was a race to the bottom."
