Milacron announced the launch of a new rental option for machinery upgrades through its exclusive financing partner, Equipment Finance Group (EFG). The advantages of renting equipment rather than purchasing it include lower monthly payments.
The equipment rental option officially launched on March 25 following an agreement with EFG to meet demand for increased temporary capacity to make products to aid in the fight against COVID-19.
|Milacron demoed its all-electric Alpha 110iA Roboshot at this year's PLASTEC West trade show — remember those? Image courtesy Milacron.|
Rental terms are 12 months, 18 months, or two years. End-of-term options include purchasing the machine at a predetermined price that includes credits from previous payments, returning it with no additional obligation, or continuing to rent it for a renegotiated length of time or payment.
Jason Bonanno, Vice President of APPT sales for Milacron, commented to PlasticsToday: “In just a matter of weeks, the coronavirus has caused a major disruption in the plastics industry. During this challenging time, Milacron possesses the ability to provide financial relief along with total injection molding solutions for our customers that are working diligently 24/7 to meet the global demands in the fight against COVID-19. Our capability to add capacity solutions quickly with zero out-of-pocket cost upfront form a partnership with our customers that is unbreakable. Our leasing options and leading-edge technology provide these solutions, along with additional support services, for a wide range of applications.”
Milacron said that it continues to offer additional flexible financing options. Depending on the needs of customers, low payments are available, as well as deferred payments to provide manufacturers with an extra window before the first payment is due.
Milacron is working to support machinery ownership through its Quick Delivery Program, which includes the Roboshot, Q-Series, and MPs. The equipment can be delivered to domestic facilities in as few as five days.