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Core Systems assets for sale, again

The assets of injection molder Core Systems LLC (Painesville, OH) are set to go up for auction again following the company's February closing after the Whirlpool Corporation terminated its contract with Core. The molder had two plants, one in Mount Gilead, OH and the company's headquarters plant in Painesville, OH.

PlasticsToday Staff

April 17, 2013

1 Min Read
Core Systems assets for sale, again

The first time Core's assets came up for sale on April 2, there were only two lots: all the manufacturing assets in the Painesville facility in one, and the entire Mount Gilead plant and its contents in the other. Perfection Industrial Sales paid $4.33 million for the Painesville equipment, and $1.8 million for the Mount Gilead plant. Close to 350 were employed at Painesville, and 72 at Mount Gilead. The Mount Gilead plant produced parts exclusively for Whirlpool. Core Systems was formed in 1997 and besides Whirlpool, included clients such as Volvo Trucks, Collins & Aikman and Bosch-Seimens according to the company's website.

A trial was scheduled for May 22 to resolve a breach-of-contract suit by Whirlpool and a countersuit by Core, but the case has recently been settled out of court. Details of the settlement were not available.

On May 16 at 9am EDT, a live webcast auction will be held at the Painesville facility (787 Renaissance Pkwy, Painesville, OH), offering 64 injection molding machines from 60-1000 tons by such makers as Toshiba, Sumitomo, Mitsubishi, Nissei and Haitian. Secondary equipments, robots and plant support equipment will also be included.

Perfection has said that it is working with Morrow County and the "Columbus Region" to find a buyer for the turnkey Mount Gilead facility, but the building and manufacturing assets may still be sold separately. Details of the sale can be found at www.perfectionindustrial.com. The sale is being held in conjunction with Machinery Network and Infinity Asset Solutions.

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