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Alexco Changes Hands

Alexco Acquisition Co. LLC, Spartanburg, has purchased the assets of Alexander Machinery Inc. (Alexco), a Mauldin, S.C.-based manufacturer of loom take-ups, winding and unwinding systems, inspection equipment and automated material handling systems.

Alexco owns more than 40 patents on winding and unwinding equipment and has sold more than 40,000 machines globally.

The new company owners are Martin Cornelson, president and CEO, and Steve Coleman, chief operating officer. Coleman also will focus on expanding the automated material handling business.

“[B]y fully utilizing our engineering design capabilities, our metal fabrication and painting capabilities, our comprehensive electrical design and integration talents, and our ability to ship, service and install equipment around the world, we offer our customers a seamless solution to their material handling challenges, be it textiles or any other OEM products,” Coleman said.

October 2005