Profile: United Capital Corp (UCAP.PK)

UCAP.PK on OTC Markets Group

35.77USD
19 Nov 2014
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United Capital Corp., incorporated in 1980, operates in three segments: real estate investment and management, hotel operations and engineered products. The Company is engaged in the business of investing in and managing real estate properties and the making of short-term loans. The Company's hotel operations segment consists of four full and limited-service hotels located in the United States, which are managed by the Company. The Company's engineered products are manufactured through Metal Textiles Corporation (Metal Textiles) and AFP Transformers Corporation (AFP Transformers), wholly owned subsidiaries of the Company. In February 2012, the Company acquired the Ocean Place Resort & Spa located on a pristine stretch of shoreline in Long Branch, New Jersey.

Real Estate Investment and Management

The Company owns properties that it manages, which are leased primarily as department stores, shopping centers, restaurants, and office buildings around the country. The Company also owns child-care centers located in New York City, a number of which are operated by the City of New York. In addition, the Company owns properties available for sale and lease with the assistance of a consultant or realtor working in the locale of the premises. The majority of properties are leased to single tenants. As of December 31, 2010, 98.7% of the total square footage of the Company's real estate properties was leased.

Hotel Operations

As of June 21, 2012, the Company's hotel properties consisted of almost 1,500 rooms, over 100,000 square feet of meeting space, and a renovated convention center with over 170,000 square feet of exhibit and meeting space available from its six full service hotels located in Connecticut, Florida, Georgia, New Hampshire, New Jersey and New York State. The hotels operate under various franchise agreements, including those with DoubleTree by Hilton and Radisson. The Company’s hotels include Wellesley Inn Atlanta Airport, DoubleTree by Hilton Hotel Miami Airport Convention Center, DoubleTree by Hilton Hotel - Bradley International Airport, Radisson Hotel Nashua New Hampshire, Radisson Hotel-Utica Centre and Ocean Place Resort & Spa.

Engineered Products

The knitted wire products and components are manufactured by Metal Textiles. The principal areas in which these products have application are as high temperature gaskets, seals, components for use in airbags, shock and vibration isolators, noise reduction elements, electromagnetic interference (EMI) electronic shielding, and air, liquid and solid filtering devices serving the automotive, aerospace and general industrial markets. Metal Textiles supplies a number of automobile manufacturers with exhaust seals and components for use in airbag inflators. It also designs and manufactures transformers marketed under the AFP Transformers and EPOXYCAST brand names for a variety of applications, including variable frequency motor drive systems, manufacturing machine tools, utility company substations, semiconductor fabrication equipment, and industrial furnaces. These products also include custom magnetics for transit vehicle traction systems, as well as components in solar and wind energy, nuclear power, electric vehicle batteries and power quality and conditioning systems.

The Company's EPOXYCAST transformers provide a capability that offers epoxy molded resin to protect the transformer's coils from environmental conditions that could cause corrosion or rust to unprotected copper coil windings. The Company's transformer product line is sold domestically and internationally. Sales by the engineered products segment to Autoliv and General Motors, accounted for 13.9% and 10.4% of the segment's sales during the year ended December 31, 2010, respectively. Approximately 16.6% of 2010, total sales generated from the engineered products segment were to foreign customers.

Company Address

United Capital Corp

United Capital Building 9 Park P
GREAT NECK   NY   11021
P: +1516.4666464
F: +1516.8294301

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