Capacity exits UK after sale of Crest presses

The majority of Crest Packagings biggest presses have been sold to firms outside the UK.

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.