SOLON, Ohio (June 7, 2005) – More than 150 registered bidders recently participated – both in person and online -- in an auction held by Stopol, Inc. to purchase plastics manufacturing equipment and a variety of other processing machinery from discontinuing operations at a Graco Children’s Products, Inc. plant near Philadelphia.
Solon, Ohio-based Stopol, a leader in arranging the acquisition and sale of production equipment and machinery, businesses, divisions, product lines, and manufacturing licenses in the plastics industry, organized and managed the event.
Held May 11, the event drew about 100 buyers from plastics manufacturing operations on the East Coast and more than 50 online bidders from all over the world. The auction featured a variety of injection molding equipment from the recently closed facility, including 10 late-model Van Dorn and Cincinnati Milacron injection molding machines and more than 20 tow motors. A large quantity of toolroom equipment also was sold, including lathes, grinders, saws, mills and rivet machines. Proceeds from the auction were not disclosed.
Stopol conducted the live auction at Graco’s Elverson, Pa., facility and webcast the event on www.stopolauctions.com so that bidders from all over the world could participate in the event by using their PCs.
Headquartered in Exton, Pa., Graco manufactures a wide variety of children’s products, including car seats, cribs, diaper bags, high chairs, strollers, swings and activity centers. The Newell Rubbermaid, Inc. subsidiary announced in December 2004 that it was shutting down operations at its Elverson plant to streamline operations.
Graco is transferring the work performed at the closing facility to a Newell Rubbermaid plant in another state. Graco operates additional factories in Pennsylvania, Ohio, California and Mexico. Graco consulted with Stopol to help it divest the machinery at the plant through an auction.
“The traction we are gaining from our online auctions is really taking hold,” said Stopol CEO Neil Kruschke Jr. “The word is out about the value and efficiency of our online experience, and the momentum just keeps on building with each successive auction. I’m anxious to see where this innovative way of buying and selling equipment will take Stopol and the industry as a whole.”
www.StopolAuctions.com Webcasts offer a truly unique, interactive function -- two-way audio communication that enables bidders to not only hear the auctioneer but speak to him directly in real time, as well. If an attendee is participating using their PC and they have a question or require clarification, they can address the auctioneer in real time by using their PC’s microphone. Few, if any, online auction sites offer this cutting-edge and highly efficient function.
On November 23, 2004, Stopol launched www.stopolauctions.com, an interactive, online marketplace that allows members to buy and sell new and used plastics equipment and other assets. The only auction Web site dedicated exclusively to the plastics industry, www.stopolauctions.com offers industry executives and plant managers the opportunity to experience the competitive atmosphere and dynamics of an auction without leaving their office, 24/7, 365 days a year.
About Stopol, Inc.
Headquartered in Solon, Ohio, Stopol is a privately held corporation specializing in arranging the acquisition and sale of production equipment and machinery, businesses, divisions, product lines, and manufacturing licenses in the plastics industry. With unparalleled insight into the business market and the value of potential acquisitions, Stopol takes efficient, tactical approaches to connecting buyers and sellers in the plastics industry. In direct contact with more than 27,000 manufacturers, Stopol serves as a strategic partner for merger and acquisition opportunities, helping companies find cost-effective solutions while maximizing their resources.
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