SPI: The Plastics Industry Trade Association (SPI, plasticsindustry.org) partnered with long-standing member company Meadoworks to launch Capital Asset Management Services, a new program to support the plastics industry’s goal of eliminating waste while bringing new life to existing resources. By partnering with Meadoworks, a global leader in the selling of used plastics machinery, SPI is now able to deliver a single platform where manufacturers can appraise their assets, dismantle and remove obsolete equipment, and even find a new home for used equipment.
“The success of the entire plastics industry depends on the success of today’s manufacturing equipment,” says William R. Carteaux, SPI’s president and CEO. “As companies continues to grow, so too must the technology they use.”
“While participating in this program makes good business sense for today, it also helps ensure our competitiveness in the future,” he explains. Every time a company takes advantage of Capital Asset Management Services, a portion of the transaction goes back to SPI to directly support the association’s work in Washington, DC, as they promote and defend the plastics industry while opening new channels and opportunities for global growth.
Participation in Capital Asset Management Services allows for the ability to buy and sell used equipment through a marketplace that is exclusively dedicated to the plastic processing industry. “The key advantage of this program,” says Brian Walsh, president of Meadoworks, “is that you don’t have to be an expert in asset management to benefit from expert knowledge. From the moment you decide to be a part of the marketplace, everything from valuation to marketing and eventually removal will be taken care of for you.”
The “trade in & trade up” concept is one that has largely eluded plastics processors because of the lack of a centralized marketplace. Capital Asset Management Services fills this void and meet the needs of buyers and sellers around the world while simultaneously supporting the industry’s own sustainability initiatives.