Megtec buys Ross Air Systems intellectual property

Mar 03, 2009 at 06:36 pm by Staff

Megtec Systems, the US manufacturer of pasters and dryers, has bought the intellectual property of Ross Air Systems, the New Jersey company which went into Chapter 7 liquidation in December.

Ross made web process lines including industrial dryers and ovens, coaters, material handling equipment, air pollution control and heat recovery equipment. Megtec says it will now be supporting former customers with service, spare parts, and engineering services.

Ross Air Systems originally filed for Chapter 11 bankruptcy in May last year and the case was converted to a Chapter 7 liquidation in December.

The purchase covers intellectual property only – not employee responsibilities, inventories or in-process contracts, or physical property such as buildings or liabilities such as warranty obligations.
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