Sealed Bid Offering:
Plastic Manufacturing and Facility Support Equipment from a Plastic Toy Industry Leader
Gyeonggi-do, South Korea

The Client

The client is a global leader in the toy production industry, best known for plastic building bricks. The company also has a strong presence in the retail and entertainment sectors.

The Challenge

The client had over 70 pieces of plastic manufacturing and facility support equipment that it was trying to sell. The wide variety of equipment included a Water Purification System, a number of Injection Molders, Ultrasonic Welders, a number of Robotic Pick-Up Machines, a Label Printer, and more. The facility’s location in Gyeonggi-do proved difficult because the majority of plastic manufacturing sales in the pre-owned equipment market have predominately been in North America, Europe and Latin America, as opposed to Asia. Another obstacle came as the client hoped to find a single buyer who would purchase all of the assets. This would be especially difficult given the variety of equipment that did not all fall into a single unified category, making the prospects of a single interested buyer even harder.

The Solution

EquipNet’s specialists created over 70 equipment listings that were written up and added to a Sealed Bid auction event to market the assets for the client. EquipNet provided the company with the following services:

-Dedicated Sealed Bid Event                     -Worldwide Logistics Services
-Project Management                                 -Onsite Inventory

The Result

Through the dedicated Sealed Bid auction event hosted by EquipNet, the client was able to find a single buyer interested in purchasing the entire lot of plastic manufacturing and facility support equipment, including all over 70 listings. The buyer was able to remove all of the equipment at once, helping the client free up space in its Gyeonggi-do facility. Because of the Sealed Bid style of the auction, the client was able to get a better-than-typical final price that exceeded expectations, with the sales totaling $549,494. In addition, EquipNet was able to meet the client’s requested clearance deadline with almost a month to spare.

Number of Assets

Sales Proceeds

Equipment Categories
Injection Molders
Ultrasonic Welders
Robotic Pick-Up Machines
Water Purification System
Label Printer

Dedicated Sealed Bid Event
Worldwide Logistics
Project Management
Onsite Inventory

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