SPRINGDALE (KFSM) — Houston-based petrochemical company Vinmar International looks to buy the assets of Springdale-based nanotechnology company NanoMech for $8 million.
Meanwhile, the New York-based lender that sought to purchase the company initially has reduced its purchase agreement to match Vinmar’s offer.
Vinmar is a marketer and distributor of plastics and chemicals and recently made an offer to buy NanoMech’s assets, according to court documents.
The agreement was noted in a July 8 filing for an auction in the ongoing bankruptcy case NanoMech filed April 15 in U.S. Bankruptcy Court for the District of Delaware.
The auction is set for July 19, and a sale hearing is set for July 23.
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