SOLON, Ohio (February 23, 2006)– About 150 registered bidders participated -- nearly 100 in person and 50 online -- in an auction held February 22 by StopolAuctions L.L.C. to purchase plastics manufacturing equipment from discontinuing operations at Carlisle Engineered Products, Inc’s. Lake City, Pa., plant.
Solon, Ohio-based StopolAuctions is the leader in hosting and managing plastics industry auctions.
Held at Carlisle’s Lake City facility, the auction featured a variety of HPM, Toshiba and Van Dorn injection molding machines, ranging in size from 75 tons to 700 tons. The event also featured an array of toolroom equipment and accessories. Proceeds from the auction were not disclosed.
“What differentiated this auction from so many others is the amount of interest in the accessories,” said Stopol CEO Neil Kruschke Jr. “The forklifts and tooling available drew as much interest as the larger machines and even attracted manufacturers from outside the plastics industry.”
StopolAuctions conducted the live auction at Carlisle’s 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.
Carlisle Engineered Products is a subsidiary of Carlisle Companies, Inc. (NYSE:CSL). Carlisle Engineered Products’ Lake City facility produced a variety of custom-molded automotive parts, primarily for Delphi Corp. However, Delphi recently moved a substantial portion of its production to Mexico, which subsequently forced the Pennsylvania molder to discontinue operations at the Lake City factory. Troy, Mich.-based Delphi, the world's largest automotive supply company, filed the largest bankruptcy protection claim in U.S. automotive history in October 2005.
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.
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