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Live webcast auction by Tiger Group and HyperAMS, conducted by order of secured creditors, features late-model equipment from Zummit Plastics Distribuidores Stretch Film
PHOENIX , June 17, 2024 /PRNewswire/ -- A live webcast auction on June 26 features the Phoenix plant of manufacturer Zummit Plastics, known for producing both conventional stretch film and what it billed as the only biodegradable version of that product in the country.
The sale of the closed, 85,000-square-foot manufacturing facility, which is filled with late-model equipment in good condition, is available to both turnkey buyers and those interested in acquiring assets individually. Tiger Group and HyperAMS are hosting the sale by order of secured creditors.
Pre-bidding is available now. The live webcast auction will begin at 10 a.m. (PT) on Wednesday , June 26.
Two bidding platforms are available:
"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," noted John Coelho , Senior Director, Tiger Commercial & Industrial. "The late-model, high-utility equipment available in this sale represents a strong opportunity for expanding companies in the packaging industry."
"As noted by Packaging World, Zummit produced high-end machine, hand and pre-stretch films, using a proprietary additive for its biodegradable products," 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."
Highlights of the live webcast auction include:
Additional assets in the sale include regrind units, chillers, Conair crystallizers, an REI-ZR guillotine shear, as well as compressors, forklifts, a large quantity of finished goods, plastic scrap and raw goods.
For asset photos, descriptions, and other information, visit:
https://soldtiger.com/sales/late-model-stretch-film-manufacturing-facility-complete-plant-closure/
https://www.hyperams.com/zummitplastics
Inspections are available on Tuesday, June 25 , at the Phoenix facility. Please contact Steve Kleba at 815-451-3451 to schedule an appointment.
Media Contacts: At Tiger Group, Maria Hoang , (805) 497-4999 or [email protected] . At Jaffe Communications, Elisa Krantz , (908) 789-0700 or [email protected] .
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