500 Attend Stopol, Inc. Auction of Rubbermaid Equipment in Wooster.WOOSTER, Ohio -- More than 500 registered bidders attended an auction held by Stopol, Inc. yesterday to purchase surplus plastics manufacturing equipment from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of the Rubbermaid Group's Home Products division in Wooster. Solon Solon, Athenian statesman Solon (sō`lən), c.639–c.559 B.C., Athenian statesman, lawgiver, and reformer. He was also a poet, and some of his patriotic verse in the Ionic dialect is extant. At some time (perhaps c.600 B.C. , 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. Buyers from plastics manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Northeast Ohio, as well all over the world, converged on the Rubbermaid Group's 1.3 million-sq.-ft. Wooster facility to bid on nearly 2,000 pieces of equipment, including more than 60 late-model 90- to 3,000-ton injection molding machines Injection molding machine (also known as injection press) - a machine for making plastic parts. Manufacturing products by injection molding process. Consist of two main parts, an injection unit and a clamping unit. and a substantial quantity of ancillary plastics and toolroom equipment. Recent efforts by the Rubbermaid Group to streamline operations and bolster efficiencies left the company with a surplus of processing equipment. In December, the Newell Rubbermaid “Rubbermaid” redirects here. For the Marvel comics character, see Rubbermaid (comics). Newell Rubbermaid (NYSE: NWL) is a global marketer of consumer and commercial products, including such well-known brands as Rubbermaid food storage, home organization, and refuse Inc. unit announced plans to close the Wooster plant in 2004. As a result, Rubbermaid Group consulted with Stopol to help it divest the excess machinery through a series of auctions. "On one hand, this is the end of an era. This Rubbermaid plant has been here since the '60s," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Neil Kruschke Jr., Stopol CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "On the other hand, the budget constraints placed on smaller manufacturers normally would prevent many of them from acquiring these types of machines. These auctions are tremendous opportunities for the smaller manufacturing operations, particularly those in Northeast Ohio, to purchase high-quality equipment at affordable prices. " The showcase auction item, a 2001 Cincinnati Milacron 3000-ton, 607-shot injection molding machine, created a bidding war in which the winner paid $800,000 for a piece of equipment that typically costs nearly $1.4 million. A 1998 Cincinnati Milacron 1000-ton, 288-shot injection molding machine also drew a great deal of interest, fetching $172,000. "The economy is in a recovery mode and the purchases of big-ticket items at this auction certainly illustrate that companies are spending money to bolster operations," Kruschke said. "When a company buys a 3000-ton injection molding machine, it is looking to increase its production capacity and subsequently will need to hire more workers to operate that machinery. A 3000-ton injection molding machine generally translates into at least five to six new jobs." The Wooster event was the second of three auctions -- being held throughout June at three different Rubbermaid Group plants -- featuring excess equipment from those facilities. The first auction occurred June 8 at the Rubbermaid Home Products division's Cleburne, Texas Cleburne is a city in Johnson County, Texas, United States. The population was 29,050, as of the 2007 census. It is the county seat of Johnson CountyGR6. Cleburne is named for a Confederate General, Patrick Cleburne. , facility. The third auction takes place June 23 at the Rubbermaid Cleaning Products division plant in Greenville, North Carolina
Greenville, one of the fastest growing cities in North Carolina, is the county seat of Pitt County, and is the principal city of the Greenville, North Carolina Metropolitan Statistical Area. . For a comprehensive listing of all available equipment, directions to the North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. auction or more information on auction rules and terms of sale Terms of sale Conditions under which a firm proposes to sell its goods or services for cash or credit. , please visit the auction index at www.stopol.com. About Stopol, Inc.: Headquartered in Solon, Ohio Solon (pronounced Sew-len) is a city in Cuyahoga County, Ohio, and is a suburb of Cleveland in the Northeast Ohio Region, the 14th largest Combined Statistical Area in the United States. As of the 2000 census, the city population was 21,802. , Stopol is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private 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. About the Rubbermaid Group Divisions in the Rubbermaid Group are Rubbermaid Home Products, Rubbermaid Commercial Products and Rubbermaid Europe, leading manufacturers and marketers of indoor and outdoor organization, storage and cleaning products; Graco, manufacturer and marketer of juvenile products such as swings, highchairs, play yards, strollers and cribs; and Little Tikes, maker and marketer of innovative children's toys and furniture. This group encompasses a wealth of expertise in injection, blow and roto molding and is a major purchaser of plastic resin. The Rubbermaid Group was formed in 1999 after the acquisition of Rubbermaid, which included Graco and Little Tikes. The Rubbermaid Group 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 (R), Paper Mate (R), Parker(R), Waterman (R), Rubbermaid, Calphalon(R), Little Tikes(R), Graco(R), Levolor(R), VISE-GRIP(R), BernzOmatic(R), IRWIN(R) and LENOX(R). The company, headquartered in Atlanta, Ga., employs approximately 40,000 people worldwide |
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