SOLON, Ohio (May 19, 2006)– Nearly 100 registered bidders participated – 60 in person and over 30 online -- in an auction held May 17 by StopolAuctions L.L.C. to purchase plastics manufacturing equipment from discontinuing operations at Sanford Corp.’s Paper Mate® plant in Santa Monica, Calif. Sanford is a subsidiary of Newell Rubbermaid Inc.
Solon, Ohio-based Stopol Auctions is the leader in hosting and managing plastics industry auctions.
Held at Sanford’s Santa Monica facility, the auction featured a variety of injection molding machinery from some of the top brands in plastics equipment manufacturing, including Cincinnati Milacron, Husky and Nissei. The event – which was web cast on www.stopol.com so that bidders from all over the world could participate using their PCs -- also featured an array of toolroom equipment and accessories. Total proceeds from the auction were not disclosed.
Sanford’s Santa Monica facility made the popular Paper Mate series of pens and writing instruments.
“Not only did we have people bidding online from all over the world, but we also had several attendees travel from Latin America to California to participate in person,” said Stopol CEO Neil Kruschke Jr. “We announced a global expansion project that targeted Latin America in January and I think we’re beginning to see some traction. We’ve seen a definite increase in the number of transactions we conduct with processors in Latin American countries.”
About Stopol, Inc.
Headquartered in Solon, Ohio, privately held Stopol is the leader in arranging the acquisition and sale of manufacturing equipment, parts, businesses, divisions, product lines and manufacturing licenses in the plastics industry. With its vast inventory and technical expertise, Stopol not only helps plastics manufacturers stay on stream but allows them to quickly add capacity and capabilities. Well known for its live auctions, Stopol further enhanced its reputation as an industry innovator in 2004 when it launched www.stopolauctions.com, an interactive, online marketplace that allows members to buy and sell new and used plastics equipment and other assets. Regarded as a vital industry resource, Stopol uses its unparalleled market insight and extensive network of contacts to connect buyers and sellers, and provide appraisal and liquidation services. Stopol also offers merger and acquisition consulting expertise through its Business Services division.
About Paper Mate®
As one of the world's most recognized and loved writing instrument brands, Paper Mate is reinventing how people think about pens and pencils. Made by Sanford, Paper Mate products provide innovative, contemporary writing instruments that individuals grow attached to - from the young to young at heart. The Paper Mate line includes pens, No. 2 pencils, mechanical pencils and erasers. As a participating member of Upromise (www.upromise.com), Paper Mate is helping families save more for college by simply buying products they use everyday. For more information on the Paper Mate family of products, visit papermate.com.
About Sanford Corp.
Sanford Corp. is the maker of Paper Mate products and a strategic business unit of Newell Rubbermaid Inc. (NYSE: NWL). Sanford is a worldwide leader in the manufacturing and marketing of writing instruments, including such well known brands as Paper Mate®, Parker®, Waterman®, EXPO®, Foohy®and uni-ball®, among others. Sanford makes more than 6,000 products, ranging from markers, pens and pencils to professional art products and fine writing instruments. Visit sanfordcorp.com for more information.
Sanford is part of Newell Rubbermaid Inc., a global marketer of consumer and commercial products with 2003 sales of $7 billion and a powerful brand family including Sharpie, Parker, Waterman, Rubbermaid, Calphalon, Little Tikes, Graco, Levolor, VISE-GRIP, BernzOmatic, IRWIN and LENOX. The company, headquartered in Atlanta, Ga., employs approximately 40,000 people worldwide.
Contact: Neil Kruschke Jr.
Stopol CEO
Phone: 440.498.4000
Fax: 440.498.4001
www.stopol.com
E-mail: neilk@stopol.com
Contact: Bryan Kokish
Marketing Director, Stopol Inc.
Phone: 440.498.4000
Fax: 440.498.4001
www.stopol.com
E-mail: bryank@stopol.com