Fraen Corporation Reaches New Heights With Equipment Leasing

Fraen equipment leasing
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This is the third and final posts in a series about Fraen Corporation, a Direct Capital customer doing remarkable things.

The Partnerships

As is the case with many a business in the manufacturing field, Fraen has the ideas, the passion and the know-how to get it done, but builds strategic partnerships for the machines and financing. That’s why the company has partnered with Direct Capital, Absolute HAITIAN, Ranger automation systems and Northeast Plastics Equipment to both procure and finance these machines, get them installed smoothly and incorporate the robotic components necessary to fully automate the processes. The company recently purchased four new injection molding machines replete with robotics that have boosted their output, and as many as a half dozen more may be on the way from Absolute HAITIAN.

The partnership has been a fruitful one. The four new machines are already producing thousands of components a day and have lent considerable muscle to Fraen’s LED Optics production, boosting productivity and profitability along the way. They’re planning for as many as six more to meet rapidly increasing demand, and are considering expanding the space they’re using at the Reading facility to accommodate their increased footprint.

Ultimately, using Direct Capital financing to purchase the machines allows for even quicker turnaround time. The number one priority, Donahue said, is to get the best machines available on the market up and running as quickly as possible, and the company has worked closely with Finance Manager Jason Adler to do so. Adler’s long experience with plastics and machine tools has been a boon, he said.

“What we’re running in the machine can pay for the machine,” he said. “We need to invest in equipment.”

And Absolute HAITIAN has helped by providing the machines needed in far less time than usual. President Glenn Frohring noted that the lead time for the press in China is usually 16 weeks, but through a combination of existing stateside inventory and quick movement, the company was able to make it happen more quickly for Fraen. Simply put, HAITIAN’s supply management and delivery timeline is unparalleled in the post-recession capital equipment market.

And as a result, Scarfo and Donahue have nothing but praise for their partners. Scarfo spoke of the “extremely competitive pricing” from Direct Capital and the “outstanding product and service” from Absolute HAITIAN, Ranger Robotics and Northeast Plastics.

“We have nothing but good things to say from our experience with our partners and look towards expanding our relationship with each of them,” Scarfo said.

The only thing Donahue doesn’t yet know is the actual added benefit of energy savings the new machinery will yield due to the state of the art technology that Haitian has incorporated in their machine design; something he said he’ll be exploring in the weeks ahead.

This has been the story of Fraen Corporation. We hope you enjoyed it.

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