Fives Machining Systems Inc (FMSI), part of the High Precision Machines Division of Fives and OEM for the Cincinnati and Giddings & Lewis machine tool brands, is entering a strategic partnership with Prestige Equipment Corp, a provider of industrial asset disposition and used machinery solutions.
Building on Fives’ long-standing expertise in new machine tool solutions, OEM-backed parts and service, equipment modernisation, and full lifecycle support, the partnership expands customer options by adding access to high-quality used equipment, global resale channels and professional asset recovery solutions.
Under the agreement, Prestige Equipment will support Fives customers with strategic surplus machinery sales and full asset disposition programmes; trade-in options to offset new machine investments; certified equipment appraisals and valuations; and access to global used-equipment markets.
Fives will continue supporting Prestige Equipment customers withOEM-backed maintenance, parts and technical service; retrofit and rebuild solutions; new machine tools and turnkey production systems; preventive maintenance and machine health assessments; and equipment relocation services.
Together, the combined offering helps manufacturers better co-ordinate equipment disposition, modernisation and capital investment planning, ultimately creating smoother transitions between surplus asset recovery and upgraded production capabilities. Prestige customers also gain access to Fives’ OEM engineering expertise, global service network and high-precision machine technologies.
“Our customers are focused on maximising uptime, extending asset life and making smart capital investment decisions,” says Wolfgang Neitzke, business development at Fives. “Fives has always supported manufacturers across the full lifecycle of their equipment. This partnership expands the options available for managing and monetising surplus assets while aligning recovery strategies with broader production and investment plans.”
The collaboration is especially beneficial for manufacturers undergoing expansions, consolidations or technology upgrades.
More information www.fivesgroup.com
