Automotive Commodity Exchange Merges with MCI Cores
Tuesday, February 23, 2016
St. Louis, Missouri (February 22, 2016)–Automotive Commodity Exchange (ACE) and MCI Cores (MCI), [yesterday] announced they have signed a definitive merger agreement. This agreement combines the collection, harvesting, and distribution of “big” automotive cores and commodities processed by ACE with that of the “small” automotive cores and commodities processed by MCI.
“Big” automotive cores encompass engines, transmissions, transfer cases, and rear ends. “Small” automotive cores include complex electrical, A/C, brakes, rotating electrical, and hydraulic.
“The purpose of combining ACE and MCI is to provide a one-stop-shop for our suppliers and customers,” said Benny Cunningham, CEO of ACE. “We have a more advanced and modern vision of the future of the recycling industry and we start by combining resources and providing the recyclers with an easier sales transaction to create a 360 degree solution.”
ACE will be moving its facilities from Kansas City, Missouri to St. Louis. ACE/MCI Commodities have purchased a 430,000 square foot facility in St. Louis to supplement MCI’s existing 150,000 square foot facility. In addition, ACE/MCI Commodities have attained an 836,000 square foot facility in Appomattox, Virginia for future projects and expansion.
“The increased capacity allows us to process all cores and commodities, reduce wait time, and increase turns. It’s a win-win for everybody,” said Mr. Cunningham.
“By teaming up with ACE, MCI has the opportunity to break through barriers in the “small” automotive core parts industry, expand product offerings, and take the business to the next level. Our entire team is excited to work with ACE,” said Ed Matejcic, CEO of MCI.
The merged company will be named ACE/MCI Commodities. Benny Cunningham has been named as the CEO. ACE/MCI Commodities will be actively releasing new programs in the upcoming months that will benefit the recyclers, customers, and remanufacturers.
About Automotive Commodity Exchange
Automotive Commodity Exchange (ACE) is an industry leader in the collection, harvesting, and distribution of engine, transmission, transfer cases, and rear end cores. Founded in 2013, our unique process of core identification sets us apart from other core companies. Our goal always remains to establish programs that will strengthen the independent recyclers, bridge the gap between recyclers and remanufacturers, and provide the world’s best commodities to our customers.
About MCI Cores
MCI Cores (MCI) has been purchasing cores and commodities from the automotive recycling industry for over 30 years. The relationships MCI has developed with the biggest remanufacturers in the world have given the recyclers the most complete and comprehensive solution to sell their commodities. MCI has taken this philosophy and created an online VIN based buying program that gives the recycling industry the opportunity to sell the most parts for the maximum return to the aftermarket.