Auto parts injection molder May & Scofield LLC will have its Fowlerville, Mich., assets auctioned.
Bank of America foreclosed on the company early this year and May & Scofield subsequently shut down in mid-January. Fowlerville was May & Scofield's headquarters facility.
Thompson Auctioneers Inc. of Xenia, Ohio, will hold the auction in May, according to a spokesman for O'Keefe & Associates Consulting LLC, the Bloomfield Hills, Mich., firm representing May & Scofield's secured lender, Bank of America.
“They're winding down the business,” said the spokesman. “Customers have removed the tools.”
May & Scofield's Acuna, Mexico, plant has been sold to Williamston Products Inc. of Williamston, Mich. That company entered auto parts production in 2007 when it bought two blow molding plants in Williamston from Collins & Aikman Corp.
May & Scofield's Fowlerville and Acuna plants had sales of about $26 million for the year ended Sept. 30, according to Plastics News data. The operations ran about 25 presses.
The O'Keefe spokesman said a May & Scofield business in Basingstoke, England, which focuses on automotive electronics, was not affected by the foreclosure.
A local news report said May & Scofield was slated to be sold in October, but the credit crunch prevented a deal from happening. According to The Livingston Community News, the Fowlerville plant employed about 50.