Toyo auctioning equipment from automotive plant in US

Franklin, Kentucky – Toyo Automotive Parts USA (TAP) is to auction equipment from its now-closed manufacturing plant in Franklin this April, asset management and liquidation specialist Branford Group has announced.

Toyo Tire Corp. announced the decision to cease manufacturing automotive parts in the US in August 2023 and dissolved the TAP business entity soon after. (ERJ report)

In a statement 13 March, Branford said it will be holding the two-day auction at the former TAP site on 2-3 April.

The US operation opened in 2001, manufacturing anti-vibration rubber, joint boots, and other products for automotive manufacturers in North America.

According to Branford, “significant investments were made from 2014 through 2018 as the operation purchased Aida straight-side stamping presses up to 330 tonnes.”

The site also invested in uncoilers and feeders, injection moulding machines, an electrostatic coating line, vertical rubber moulding machines, and a compounding line.

The list also includes new spare and replacement parts along with a range of forklifts, pallet racking, air compressors and general support equipment.