Automotive Commodity Exchange (ACE) and MCI Cores (MCI) announce merger
- February 29, 2016
An announcement of a signed definitive merger agreement between the two companies ACE and MCI was made on February 22, 2016. This agreement combines the collection, harvesting, and distribution of ‘big’ automotive cores (engines, transmissions, transfer cases, and rear ends) and commodities processed by ACE with that of the ‘small’ automotive cores (complex electrical, A/C, brakes, rotating electrical, and hydraulic) as well as commodities processed by MCI.
The merged company will be named ACE/MCI Commodities with Benny Cunningham as the new CEO. ACE/MCI Commodities will be actively releasing new programs in the upcoming months that will benefit there cyclers, customers, and remanufacturers.
“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.