Tiger Group to Auction Assets of Plastics Painting Plant

Tiger Group will begin accepting bids on July 14 for a live online auction of selected assets to the continuing operations of Spectrum Cubic (a subsidiary of Spectrum Industries), a graphic decorating and painting company that services the plastics industry.

The auction, which begins at 10:30 a.m. (EDT) on July 21 at bidspotter.com, will feature Fanuc 710i and P-250 IB robots, a complete paint kitchen including 140 gallon day tanks, agitators, catalyst tanks with pumps, glutton pumps and spray booths. A variety of plant support equipment, as well as a parts conveyor, forklifts, racking and other materials handling items also will be offered at auction.

Other key assets include a nitrogen generator, curing ovens, stainless steel parts washers, a UV curing system, hydro-graphic coating lines, a Ransburg RCS 2 two-component paint mixing system, an RO system, a thermo-oxidizer, a complete paint kitchen, stainless steel paint pots and a freight elevator.

“This sale presents a rare opportunity for painting and finishing companies, process companies, metal finishing, production finishing companies and others to acquire a wide array of well-maintained equipment at auction prices,” George Laidlaw, director of business development at Tiger’s commercial and industrial division, said. “Notably, the facility’s state-of-the-art paint robots can be repurposed for material handling or other applications, while its plant support and materials handling equipment is also suited to multiple industries.”

The 83,000-square-foot building is being redeveloped into office space by Grand Rapids, MI-based Spectrum Industries. Operating multiple facilities in the Grand Rapids area, the privately held, second generation company employs nearly 300 people focused on the application of functional and decorative finishes to supplied metal and plastic components for OEM markets.

“Spectrum is divesting from its traditional hydro graphics decorating technology to focus on RAYN Technology for applications in the interior automotive, large truck, office furniture and point of purchase product lines,” Laidlaw said. “Tiger is pleased to have been selected by Spectrum to assist in the sale of its excess machinery and equipment.”

The assets being offered can be viewed here. All bidders must register in advance of the July 21 auction here. The assets also may be previewed by appointment only on Monday, July 20, from 9 a.m. to 5 p.m. (EDT).

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.