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From huge machines to coffee makers, it's all up for bid Nov. 13-15
By Jim Mackinnon Beacon Journal business writer
Published on Tuesday, Oct 30, 2007
The Hoover Co. campus in North Canton will be emptied out next month.
Everything must go: massive injection molders, metal stampers, robots and other specialized machinery right down to microwave ovens, coffee makers and one ice cream maker.
An auction will run Nov. 13-15 at the East Maple Street site. And because of likely global interest in some of the items, Solon auctioneers Stopol Auctions LLC will also conduct the live auction over the Web.
It's likely that a minimum of 500 people will attend each day, said Bryan Kokish, Stopol's marketing director. Stopol specializes in plastics industry auctions.
''This is very comparable in terms of size and scope'' to the Rubbermaid auction in June 2004 in Wooster, he said. That sale attracted 500 registered bidders and about 2,000 items were sold.
In Hoover's case, new parent company, TTI Floor Care North America, also known as Techtronic, is shutting down the North Canton facility and consolidating vacuum-cleaner manufacturing elsewhere, with the loss of about 800 jobs. The last day of production in North Canton was Sept. 28.
The North Canton site probably will be purchased by California developer Stu Lichter. On Monday, he said he had not yet closed on the property, but expected to take ownership in the next 30 to 45 days.
The end of Hoover in North Canton might bring new life to
other smaller companies, Kokish said.
''When a larger operation like this consolidates, it creates opportunities for smaller operations,'' Kokish said. The auction should allow smaller companies to buy equipment and upgrade technology that they otherwise would not be able to afford, he said.
Stopol will have a public preview of the Hoover items on Nov. 12. Private previews can also be arranged, Kokish said. Winning bidders have seven days after the auction to pick up their items.
Based on previous auction experiences, between 90 percent and 95 percent of the Hoover items probably will stay in the United States, Kokish said.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
The Hoover Co. campus in North Canton will be emptied out next month.
Get the full article here.
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