Tekmart buys injection molding assets of Foxconn's Hungary plant

Tekmart is a diversified company using 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 Asset Management division of Tekmart, led by Thomas, has recently been engaged in expanding its footprint in trading and asset management. The 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 including:

Thomas reports that all equipment has been well maintained and is in excellent condition. The sale of these assets will be held over the next few months.

Tekmart's Asset Management division has been actively engaged in injection molding process machinery and equipment, identifying it as a 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.