Niigon Machines Bankruptcy Auction Will Begin November 30

Canadian injection molding machinery manufacturer Niigon Machines Ltd. has filed for bankruptcy and is now in receivership, Yahoo Finance reported. Infinity Asset Solutions in Toronto has been authorized to liquidate the two state-of-the-art manufacturing facilities. Niigon manufactured eight basic models - from 30 to 600 metric tons - of injection molding machinery. According to one industry source, Niigon covered "60 percent of the injection molding machinery market" in its recently constructed custom-designed and built 155,000 square foot plant, which opened in 2016. The three-day auction event will occur on Tuesday, November 30, Wednesday December 1, and Thursday, December 2. This timed webcast auction will proceed online only. Inspection happens on Monday, November 29, 9 AM to 4 PM or by appointment at the Niigon facilities at 370 and 372 New Enterprise Way, Woodbridge, Ontario. Featured items include nine New and Demo Injection Molding Machines; $10MIL+ Cost in New Machine Parts Inventory; Paint Spray and Wash Booths; Clean Room; Resin Drying and Handling Equipment; Material Handling and Rolling Stock; Chiller Systems; Air Management Systems; Electrical Testing Equipment; Plant Support and Maintenance; plus much more. There are ongoing negotiations with potential end-user buyers. Niigon Machines was founded in 2008 under the original name of Athena Automation Ltd. by Canadian plastics pioneer and industrialist Robert Schad. Previously, Mr. Schad had founded Husky Injection Molding Systems in 1953. Read more.

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