TECT Aerospace’s $31 Million Bankruptcy Sale of Facility OK’d

TECT Aerospace Group Holdings Inc., a bankrupt Boeing supplier, received court approval to sell its Everett, Wash., manufacturing facility to competitor Wipro Givon USA Inc. for $31 million.

Wipro’s stalking horse bid for the manufacturing site was the only qualified offer submitted, TECT told the U.S. Bankruptcy Court for the District of Delaware earlier this month. The deal contemplates a $31 million cash payment and assumption of certain liabilities.

Judge Karen B. Owens issued an order Thursday approving the sale.

TECT is still in the process of selling its Kansas headquarters and two manufacturing facilities in the state through an ...