MMC Precision granted court approval of $33 million sale of assets

By Caroline Salls

Pittsburgh, June 9 - MMC Precision Holdings Corp. received court approval of the $33 million sale of its assets to MIG Acquisition Corp., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The buyer is required to pay a $5 million deposit toward the purchase price before closing.

According to the order, no other bids were received, so no auction was held.

Morton, Ill.-based MMC manufactures highly engineered metal components and subassemblies. The company filed for bankruptcy on March 22. Its Chapter 11 case number is 09-10998.

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