Tekmart Purchases Capital Assets of Foxconn Facility in Hungary
Tekmart International Inc. announced the recent purchase of the injection molding assets of a Foxconn facility located in Hungary. According to Nigel Thomas, Director Business Development for Tekmart, Foxconn, a global vertically integrated contract manufacturer, is divesting of the injection molding operations that at one point had 133 presses, to focus on other areas of contract manufacturing.
Tekmart is a diversified company utilizing a two-pronged approach to its business strategy: Capital Asset Trading – buying and selling high-technology capital assets from the manufacturing floors of some of the most recognized global OEMs in industry; and Contract Manufacturing through its subsidiary Tekmart Integrated Manufacturing Services (TIMS), which operates manufacturing facilities in Brazil and Mexico.
The Tekmart Division, which made the purchase, will rationalize the assets of the molding facility. Assets in the facility include late-model injection molding presses (multiples of each type) and auxiliary and support equipment. The sale of these assets will be held over the next few months.
Tekmart’s Asset Management division has been actively engaging in injection molding process machinery and equipment, identifying it as healthy market with strategic opportunities to trade in this market. Injection molding machinery and equipment has become an important part of Tekmart’s inventory, with global sales exceeding 100 injection molding machines plus auxiliary equipment. The growth of this business segment has led Tekmart to open its 100,000-square-foot equipment service and trading facility in Juarez, Mexico, dedicated to injection molding and plastics process machinery. This expansion has also allowed Tekmart to add 40,000 square feet of surface mount technology (SMT) equipment.
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