ACE And MCI Cores Merge
Automotive Commodity Exchange (ACE) and MCI Cores (MCI) 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 includes engines, transmissions, transfer cases and rear ends while small automotive cores includes complex electrical, A/C, brakes, rotating electrical and hydraulics.
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.
“The purpose of combining ACE and MCI is to provide a one-stop-shop for our suppliers and customers,” said 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, Va. 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 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.
ACE was founded in 2013 and MCI Cores has been purchasing cores and commodities for more than 30 years.