Date: May 21, 2007
Source: Republic Financial Corporation
Al-jon Responds to Worldwide Demand Through Massive Plant Expansion
Republic Financial Corporation's Private Equity Group has recently announced the opening of a 40,000 square foot manufacturing facility in Ottumwa, Iowa, for its portfolio company Al-jon, Inc. Over a year ago, the expansion project was the primary motivation in creating an alliance between Republic Financial, a privately held company with investment interests in diverse assets and entities, and Al-jon, a leading manufacturer of equipment for the solid waste and scrap metal industries. The facility expansion will nearly double the space devoted to manufacturing, which will allow Al-jon to continue to support customers with the same timely order delivery for which it is known.
"The completion of Al-jon's nine-month plant expansion project ensures that Al-jon can supply the booming global scrap industry, and the international solid waste market, with the equipment it needs. It validates our commitment to the recycling and solid waste industries," states Kendig Kneen, CEO of Al-jon, Inc.
Al-jon is an industry leader in customer service and quality, the result of a deep and long standing commitment to customers' unique requirements. The plant expansion will support Al-jon's range of products including the 580CL Car Logger a successful model with increased capacity and efficient processing speed, having the capacity of one-person operation and production capability of 25 car bodies per hour.
"Al-jon's visionary leadership team realized the increasing need to supply the growing scrap industry with quality recycling equipment and has successfully expanded plant capacity to deliver on the market need" states Bill Haan, president of Republic's Private Equity Group. "With the success of the project, the company has become a great success story for the "buy and build" strategy of our Private Equity Group." Republic's Private Equity Group is a team of accomplished professionals who collaborate with management teams to bring unique investment opportunities to its partners.
With a mission of generating superior long-term value, Republic combines its deep expertise in business development and maximizing business growth potential with the experience of key management of its portfolio companies. Republic's Private Equity Group strategy is ideal for small market, privately-held companies looking to add long-term value and complementary functional support and expertise. "Al-jon is a valuable addition to Republic's portfolio of companies," says Ian Massey, executive vice president of Republic and member of Al-jon's board of directors. "The company's proven track record is a result of meeting customer expectations by continually developing new products to meet market needs."
About Republic Financial Corporation
Republic Financial Corporation, located in Aurora, Colorado, is a privately held company with investment interests in a diverse portfolio of operating companies. Representative industries include heavy equipment manufacturing, promotional products, corporate staffing, construction aggregates, aviation, security software, telecommunications and data services. The company invests in small-market, privately-held companies, commercial debt and aviation assets. Since 1971, Republic has achieved commercial success by developing creative solutions to difficult and complex business situations. For more information visit www.republic-financial.com.
About Al-jon, Inc.
Located in Ottumwa, Iowa, Al-jon, Inc. is a leading manufacturer in the scrap recycling and waste markets and build car crushers, landfill compactors, scrap metal balers, car recycling systems and loaders. For more information, contact Al-jon at 641-682-4506 or visit www.aljon.com.
Sign up to receive our free Weekly News Bulletin