SOLON, Ohio (April 5, 2007) Stopol Auctions, L.L.C. -- the leader in hosting and managing plastics industry auctions generated millions of dollars in proceeds from two recent auctions at Clarion Technologies, Inc.’s Ames, Iowa, and Caledonia, Mich., plants.
Nearly 200 registered bidders from eight countries participated over 70 in person and more than 110 online -- in an auction held April 4 by StopolAuctions L.L.C. to sell plastics manufacturing equipment from discontinuing injection molding operations at Clarion Technologies’ Ames plant. The Caledonia auction held March 21 drew over 150 registered bidders.
Due to our pledge of confidentiality to our clients, we cannot disclose the exact proceeds of both auctions, said Stopol CEO Neil Kruschke Jr. But let’s just say that the amount generated was over $2 million.
Both auctions featured a variety of injection molding equipment from some of the top brands in plastics processing, including Cincinnati Milacron, Van Dorn, HPM, Goldstar, Niigata and JSW. The events -- which were web cast on www.stopol.com, so that bidders from all over the world could participate using their PCs -- also featured a variety of auxiliary equipment, several fork trucks, robots and an array of tools, accessories and office equipment.
Kruschke also said that the plastics industry is really embracing the idea of online auctions.
In the past, the number of bidders that would attend the live auction almost always outnumbered the online bidders by a margin of 2 to 1, Kruschke said. But these last two auctions show that trend changing as our customers are obviously getting more comfortable with the webcast feature. Now the online bidders are outnumbering those attending in person by 30 percent.
Clarion Technologies is closing the two plants to streamline its operations. Both facilities primarily were involved in manufacturing major home appliances, automotive components and some consumer products.
About Stopol, Inc.
Headquartered in Solon, Ohio, Stopol is the plastics industry leader in providing solutions for processors’ production needs through its five lines of business -- Equipment Sales, Auctions, Liquidations, Appraisals and Business Services (merger and acquisition consulting). With the industry’s largest diverse inventory of equipment, Stopol allows manufacturers to add capacity and capabilities quickly and cost effectively. As the industry’s premier provider of auction and liquidation services, Stopol further enhanced its reputation as an industry innovator in 2004 when it created StopolAuctions L.L.C. and launched an interactive auction Web portal that allows a global audience to buy and sell new and used plastics equipment and other assets using their PCs. In addition, monthly contact with 30,000 customers and 17 years of purchasing data provide Stopol with unparalleled market intelligence that we leverage to our customers’ advantage.
About Clarion Technologies, Inc.
Clarion Technologies conceives, designs, develops and manufactures injection-molded components in the highly dynamic home appliance, consumer products and automotive industries. Its corporate headquarters are located in Grand Rapids, Mich., and it has five manufacturing facilities strategically located in the Midwest, Southeast and Mexico. The Company currently employs 700-plus highly skilled and dedicated team members including engineers, designers and technicians. Clarion has been a solid-growth company since it was founded in 1998.