January 13, 1993|By Ross Hetrick | Ross Hetrick,Staff Writer
A self-styled “junkman” from Chicago has bought the M.P. Moller name — admired for added than a aeon for its aqueduct organs — and affairs to resume architecture the busy instruments in Hagerstown.
“Like the Phoenix of old, Moller will appear from the ashes,” said the buyer, Paul D. Stuck, buyer of Recycled Appointment Appliance Systems of Chicago, a aggregation that refurbishes acclimated appointment furniture.
“I’m a junkman,” he said. “What can I acquaint you?”
But the proposed operation would be absolutely altered from the old company, with workers to own and run departments and accomplish as a cooperative.
Yesterday, Mr. Stuck’s action to buy the Moller name, archives,records and barter secrets for $50,000 was accustomed by the U.S. Defalcation Court in Rockville, which is administering the Moller bankruptcy.
Saying he has $2 actor in orders already, Mr. Stuck said he planned to accept a new agency branch operating aing month. “We accept organs to deliver; we are moving,” he said.
Other Moller assets are to be auctioned this week, and the company’s 98-year-old architecture is due to be awash Tuesday on the accomplish of the Washington County Courthouse.
Founded in 1875, the Moller aggregation was the better aqueduct agency aggregation in the apple and had a assignment force of about 130. But in the 1980s, the aggregation went into decline, adversity from corruption and poor bread-and-er times.
It assuredly bankrupt in April and filed for Chapter 11 defalcation aegis in August. After a union-sponsored accomplishment to animate the aggregation fell through, defalcation of the company’s assets started.
Mr. Stuck said he was negotiating for a architecture to abode the new operation. He disqualified out the company’s old building, adage it was “terribly inefficient.”
The new operation would be a analysis of King of Instruments, a aggregation created by Mr. Stuck. The admiral of the Moller analysis would be Bill Gray, a above Moller official. The carnality admiral in allegation of aesthetic and tonal administration would be Daniel Angerstein, who additionally formed for Moller.
An added 18 workers accept agreed to participate in the plan, which would accommodate investments by the above employees. “They are additionally the owners in this,” Mr. Stuck said. “They accept taken out mortgages on houses to get complex in this.”
The new operation would be disconnected into four parts.
These departments would act as abstracted companies. “What we accept is adept craftsmen who accept become entrepreneurs,” Mr. Stuck said.
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