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June 19, 2009
June 11, 2009
Former Stopol Thermoforming Business to be called
Thermoforming Machinery & Equipment (TM&E), Inc.
Launches new web site as well
SOLON, Ohio (June 19, 2009) - The former Stopol, Inc. thermoforming and extrusion business divisions will operate under the name Thermoforming Machinery & Equipment, Inc. when the employee purchase acquisition deal closes.
Stopol recently announced that Stopol employee Don Kruschke purchased the Thermoforming and Extrusion business divisions of Solon, Ohio-based plastics equipment dealer Stopol, Inc.
In addition, TME is launching a new web site that is being billed as the source for all things thermoforming. www.thermoformingmachineryandequipmentinc.com will feature more than just an extensive listing of used thermoforming equipment and information about TME appraisal and merger and acquisition consulting services. The new site also features a section for job listings, news and the Thermoforming Marketplace, which provides users with an alphabetized listing of thermoforming’s OEMs, material suppliers, consultants and tooling companies. A special section dedicated exclusively to SPE Thermoforming Division news and information is designed to create an online forum for thermoforming discussion and feedback.
“With our streamlined operation, new web site and vision, TM&E is focused on elevating thermoforming’s profile as well as creating a greater awareness of thermoforming in the plastics industry,” Kruschke said. “This aggressive and proactive approach to promoting the benefits of the thermoforming process will leave a lasting impression and significantly benefit everyone in the industry.”
ABOUT TM&E
Thermoforming Machinery & Equipment, Inc. is the industry resource for all things thermoforming, providing used thermoforming and extrusion equipment to plastics processors, as well as appraisal services and merger and acquisition consulting. TM & E’s website, www.thermoformingmachineryandequipmentinc.com, features an extensive listing of used thermoforming and extrusion equipment and information. The site also contains a section for job listings, SPE thermoforming news and the Thermoforming Marketplace, which provides users with an alphabetized listing of thermoforming’s OEMs, material suppliers, consultants and tooling companies. CEO Don Kruschke launched Solon, Ohio-based TM & E after purchasing the Thermoforming and Extrusion divisions of Stopol, Inc. from his brother Neil, former Stopol CEO. As a result, TM&E is able to take the 19 years of unparalleled market intelligence accumulated by Stopol over the years and leverage it to our customers’ advantage.
Employees Plan Purchase
of Stopol, Inc., Stopol Auctions LLC
New organizational structure to enhance Solon, Ohio-based company’s operations
SOLON, Ohio (June 11, 2009) - A group of employees intends to purchase the four operating business divisions of Solon, Ohio-based plastics equipment dealer Stopol, Inc. and auction company Stopol Auctions, LLC.
Stopol employees Donald Kruschke, John Muzyczka and Scott Mihalic have agreed in principle to acquire the company and plan on operating it as four independent business units – Thermoforming, Extrusion, Injection Molding and Auctions. Contingent upon the deal’s closing, all four businesses will continue to market and sell used plastics processing equipment while also offering liquidation, auction and appraisal services. The transaction is expected to close in late June, provided that certain conditions are met. Terms were not disclosed.
Under the new proposed structure, Kruschke will oversee the Thermoforming and Extrusion units, and will be joined by long-time Stopol veterans Bud Hoffmann and Todd Harrell. Muzyczka will operate the Injection Molding business, and Mihalic will lead Auction services.
“This is an incredibly exciting opportunity for all of us to take what we’ve learned and use it to benefit our customers,” said Kruschke, who currently serves as Stopol’s Executive Vice President.
The planned change in ownership will not in any way interrupt service to Stopol clients.
“This new structure makes us more flexible and will enhance what we can provide to our customers,” said Muzyczka. “A new decentralized structure will allow us to be more responsive and reduce our operating expenses. We intend to pass these savings on to our customers.”
The new Auction business is expected to work with and support the new Injection Molding, Thermoforming and Extrusion units.
“Stopol Auctions established itself as the industry’s premier auction company by focusing exclusively on plastics and its various processes,” said Auctioneer Mihalic. “We have no desire to change a strategy that has worked so well in the past.”
Chief Executive Officer Neil E. Kruschke, Jr. is planning to divest the company to focus more on his real estate ventures and other business interests.
About Stopol, Inc.
Founded in 1990, Stopol is the plastics industry leader in providing solutions for processors’ production needs through its three lines of business — Equipment Sales, Auctions & Liquidations, and Business Services (merger and acquisition consulting, appraisal services, financing). 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 Stopol Auctions L.L.C. and launched an interactive auction Web portal that allows a global audience to buy and sell new and used equipment and other assets using their PCs. In addition, monthly contact with 30,000 customers and 19 years of purchasing data provide Stopol with unparalleled market intelligence that we leverage to our customers’ advantage.
