Liquidation of Belgium's last chip manufacturer draws to a close
The liquidation of BelGan, Belgium's last industrial chip manufacturer, ends on Thursday. On Friday, interested parties can still bid for a combination of lots. The liquidation has so far raised more than 20 million euros, which will be used to pay severance to employees.
BelGan, based in Oudenaarde, filed for bankruptcy in July. The company - formerly known as Mietec - worked on innovative gallium nitride-based semiconductors. It struggled during the COVID-19 pandemic and was deemed not profitable enough to stay open.
Potential buyers of BelGan did not make serious offers to restart the company, and at the time there was no Flemish or federal government to facilitate the process. So more than 400 employees lost their jobs and Belgium lost its last industrial chip manufacturer.
The company's assets are being liquidated through an online auction, ending on Thursday, in order to pay severance to the employees and to settle the debts of the creditors. The total value of BelGan's assets, including its machinery and premises, is estimated at 50 million euros.
Foreign interest
The auction began in late November and includes approximately 1,800 lots, including wafer processing machines, mainframe computers and other specialized equipment. Some items have a starting price of half a million euros.
At least 20 million euros have been raised so far. This does not include BelGan's buildings, which will be sold privately. The hope is to raise at least 30 million euros, to pay severance to employees and pay off debts to claimants.
Most of the interest in the equipment comes from foreign companies, especially from Germany, the United States and China. Most of the equipment can be easily exported, but some machines, especially those with potential defense applications, require special export documents to be submitted to the government.
Despite the closure, Flanders still plays an important role in the development of semiconductors. Imec, a world leader in chip technology, is based in Leuven.
#FlandersNewsService | © BELGA PHOTO JONAS DHOLLANDER
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