Equipment from a shuttered film manufacturing plant in Arizona is slated to go under the auction gavel.
Closure of Zummit Plastics resulted in the recent sale of one facility in Midland Ga., to Sigma Plastics Group. But a second location in Phoenix will instead be auctioned off during an upcoming live webcast being hosted Tiger Group and HyperAMS on behalf of secured creditors.
Pre-bidding is available now.
Zummit operated in an 85,000-square-foot plant, the auction companies said, "which is filled with late-model equipment in good condition." The location 'is available to both turnkey buyers and those interested in acquiring assets individually."
The company made machine, hand and pre-stretch films, said Steve Kleba, director of auction services for HyperAMS. "The company spent about $30 million to retrofit a former warehouse space to create its film production operations, investing in some highly desirable, late-model equipment."
The auction is scheduled to begin at 10 a.m. Pacific time June 26.
"Zummit Plastics launched in 2018 and served the entire United States from the Phoenix facility, also purchasing a Georgia facility as part of an expansion plan, prior to filing for Chapter 7 bankruptcy this past February," Senior Director John Coelho of Tiger Commercial & Industrial said in a statement. "The late-model, high-utility equipment available in this sale represents a strong opportunity for expanding companies in the packaging industry."
It was just in early June that Sigma Plastics Group of Pompano Beach, Fla., revealed that company's purchase of Zummit's former facility in Midland, Ga. That location included a 125,000-square-foot building, three cast film extrusion lines and 20 acres of land.
Sigma CEO Mark Teo said the facility filled a geographic need for the company's network of stretch film facilities in the United States.
Equipment in Arizona includes a 2022 cast stretch film line as well as two SML cast stretch film lines from 2017. There are also four Unitech pre-stretch rewinding machines, an Erema recycling pelletizing line, six resin storage silos and a variety of auxiliary equipment.
The auctioneers also indicated there is a "large quantity of finished goods and raw materials" available on site. A list of items is available at www.bidspotter.com/en-us/auction-catalogues/bschy/catalogue-id-bschy10214.
Online bidders can take part in the auction at www.hyperams.com/zummitplastics or https://soldtiger.com/sales/late-model-stretch-film-manufacturing-facility-complete-plant-closure/.