Stopol, Inc. Holds First Online Auction; Nearly 500 Registered Users Bid on Millions of Dollars in New and Used Equipment, Accessories

Business Wire, Dec 10, 2004

SOLON, Ohio -- Nearly 500 www.stopolauctions.com registered users from eight countries bid on millions of dollars in new and used plastics processing equipment and accessories in the first online auction hosted by 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.

The first event to be held on the Solon-based company's new www.stopolauctions.com Web site, the OEMs Year-End Inventory Reduction Sale featured more than 300 items. Held December 8-9, the event allowed registered members of www.stopolauctions.com to bid on plastics machinery, supplies, resin, auxiliary equipment and components from the industry's most recognized names.

Some of the items for which participants cast winning bids included a 2002 60-ton Engel, 3.2-ounce injection molder, a Sencorp Foam Winder and a 1990 165-ton Cincinnati Milacron, 6.91-ounce injection molding machine. Stopol is not disclosing the total amount in sales for the two-day event or the number of bids cast until all transactions are complete.

"This first event is just the tip of the iceberg," said Stopol CEO Neil Kruschke Jr. "www.stopolauctions.com is just two weeks old and already almost 500 plastics industry executives have visited the site, assessed its potential and were sufficiently convinced of the site's advantages to take the time to register. As more word gets out about the site, the momentum will continue building and an even greater number will recognize the benefits of buying online."

Lloyd George, a process engineer with Sealed Air Corp., cast one of the winning bids at the OEM Year-End Inventory Reduction Sale and was very impressed with the event.

"The entire experience was very good," he said. "The responsiveness and follow-up were excellent, and the whole process was very easy and enjoyable. I wouldn't think twice about going this route again."

In January 2005, Stopol will host its second online auction, an event that will feature one company conducting auctions at four different venues. Stopol will not only manage the live auctions but webcast them on www.stopolauctions.com so that bidders from all over the world can participate using their PCs. More details on this event are forthcoming.

On November 23, Stopol launched www.stopolauctions.com, an interactive, online marketplace that allows members to buy and sell new and used plastics equipment and other assets. The only auction Web site dedicated exclusively to the plastics industry, www.stopolauctions.com offers industry executives and plant managers the opportunity to experience the competitive atmosphere and dynamics of an auction without leaving their office, 24/7, 365 days a year.

Buyers may pay for their purchases through a company check, money order, certified check, wire transfer or credit card.

Registration to www.stopolauctions.com is free, and nominal fees are charged only for equipment that is bought or sold on the site.

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.