SOLON, Ohio (June 8, 2004)– Stopol, Inc., a leader in arranging the acquisition and sale of production equipment and machinery, businesses, divisions, product lines, and manufacturing licenses in the plastics industry, is holding three auctions in June to sell off surplus plastics manufacturing equipment from continuing operations of the Rubbermaid Group.
The three auctions -- to be held throughout June at three different Rubbermaid Group plants -- will feature excess equipment from those facilities, including more than 60 late-model 90- to 3,000-ton injection molding machines and a substantial quantity of ancillary plastics and toolroom equipment. Thirty smaller injection molding machines (up to 300 tons) from another liquidation Stopol conducted also will be available at these auctions. For a comprehensive listing of all available equipment, directions to each auction or more information on auction rules and terms of sale, please visit the auction index on www.stopol.com.
Recent efforts by the Rubbermaid Group to streamline operations and bolster efficiencies left the company with a surplus of processing equipment. As a result, Rubbermaid Group consulted with Stopol to help it divest the excess machinery through a series of auctions.
Details for the three Stopol auctions are as follows:
Location: Rubbermaid Home Products division
400 Commerce Blvd., Cleburne, Texas
Date: June 8
Time: 10 a.m. (CST)
Preview: June 7, 9 a.m. – 4 p.m. (CST)
Location: Rubbermaid Home Products division
1147 Akron Road, Wooster, Ohio.
Date: June 16 and 17
Time: 10 a.m. (EST)
Preview: June 15, 9 a.m. - 4 p.m. (EST)
Location: Rubbermaid Cleaning Products division
2400 N. Memorial Drive, Greenville, North Carolina
Date: June 23
Time: 10 a.m. (EST)
Preview: June 22, 9 a.m. – 4 p.m. (EST)
All purchases must be paid in full on the day of the auction, and only U.S. currency is accepted. Buyers are responsible for removal of assets and all shipping and rigging charges. All purchased equipment must be removed within 10 days of the auction. If unable to attend an auction, Stopol can act on buyers' behalf by managing their proxy bids. All proxy bids require a 25 percent deposit prior to sale.
"The auctions benefit both the buyers and the sellers," according to Neil Kruschke Jr., Stopol CEO. "The auctions essentially serve as one-stop shops for plastics manufacturers looking to acquire equipment and expand their operations. The auctions also provide an alternative channel or venue for those looking to market and sell their surplus machinery." Stopol's presence also provides buyers and sellers with peace of mind and security.
"With Stopol, both buyers and sellers know what they are getting," Kruschke said. "Buyers know they can go to one location to acquire a wide variety of well-maintained equipment that can deliver unmitigated value to their operations. And with 42,000 contacts at more than 27,000 companies in 11 different countries, sellers know they are getting the maximum amount of exposure."
Stopol is looking to extend its geographical reach and contact base even further. The Solon-based company currently is opening new offices in Europe and Asia.
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...
Fax: 440.498.4001
www.stopol.com
E-mail: neilk@stopol.com
Contact: Bryan Kokish
Marketing Director, Stopol Inc.
Phone: 440...
Fax: 440.498.4001
www.stopol.com
E-mail: bryank@stopol.com