Auto plant closure creates major opportunity for plastics manufacturers

One company’s misfortune can be another company’s fortune. The downturn in the U.S. automotive industry is creating opportunities for other businesses. In a recent deal structured by PPL Group (Northbrook, IL) and Meadoworks (Schaumburg, IL), an array of plastic injection molding equipment from a former Tier One automotive supplier will be put up for auction on July 13, 2017. PPL Group is a private equity firm that uses its capital to finance, invest in, purchase or auction assets for commercial and industrial companies.

“This is an excellent way for plastics processing companies to acquire key machinery while staying within their budget,” said David Muslin, founder and CEO of PPL Group.

Brian Walsh, Managing Director of Meadoworks, added, “Together we’re helping plants expand their capabilities with a large equipment offering.”

Inventory at the live and online auction includes 20 injection molding machines with 120- to 3,000-ton capacities, Wittmann robots, granulators, resin equipment, cooling water equipment, cranes, forklifts, paint lines (offered both complete and as components), a finishing conveyor and much more.

Items will be available for inspection on July 12 from 9 AM to 4 PM CDT at 300 Shellhouse Drive in Rantoul, IL. A theater-style public auction will be held on July 13 at 10 AM CDT at the Linden Banquet Center, 224 Wheat Ave. in Rantoul, IL. Interested parties can register to bid at www.pplauctions.com.

PPL Group works with small and middle-market businesses during turnaround, restructuring and bankruptcy across a broad range of industries.

Meadoworks is an asset management firm serving the plastics industry. The company buys and sells used plastics-processing equipment, and helps clients buy or sell manufacturing machinery, liquidate an entire plant or sell their business.

Source:https://www.plasticstoday.com/injection-molding/auto-plant-closure-creates-major-opportunity-plastics-manufacturers/49605392457062

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