Profile: United Capital Corp (UCAP.PK)
31 Jul 2015
United Capital Corp., incorporated on October 31, 1980, is a real estate investment and management company. The Company is engaged in the business of investing and managing real estate properties, including the operation of full-service hotels, and manufacturing engineered products. The Company operates in three segments: Real Estate Investment and Management, Hotel Operations and Engineered Products. Real Estate Investment and Management, real estate properties owned by the Company are leased under net leases and owns properties such as department stores, shopping centers, restaurants, and office buildings. Hotel Operations, comprises of meeting space, convention center with day-to-day operations. Engineered Products, knitted wire products and components manufactured by Metal Textiles Corporation.
Real Estate Investment and Management
The Company is engaged in the business of investing in and managing real estate properties and, on a limited basis, and short-term loans secured by properties. The real estate properties owned by the Company are leased under net leases whereby the tenants are responsible for all expenses relating to the leased premises, including taxes, utilities, insurance, and maintenance. The Company owns properties that it manages which are leased primarily as department stores, shopping centers, restaurants, and office buildings across the United States. The Company also owns child-care centers located in New York City, several 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 and realtor working in the locale of the premises.
The Company’s hotel operations are comprised of almost 1,500 rooms, over 100,000 square feet of meeting space, and a convention center with approximately 160,000 square feet of exhibit and meeting space amongst its six service hotels located in Connecticut, Florida, Georgia, New Hampshire, New Jersey and New York State. These hotels operate under the DoubleTree by Hilton and Radisson brands as well as independents. Each property is managed by the Company, with on-site managers responsible for all day-to-day operations.
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. The knitted wire products and components manufactured by Metal Textiles function in environments and meet performance requirements. 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, EMI electronic shielding, and air, liquid and solid filtering devices serving the automotive, aerospace and general industrial markets. The Company’s subsidiary, Metal Textiles, supplies automobile manufacturers with exhaust seals and components for use in airbag inflators.
The Company also designs and manufactures transformers marketed under AFP Transformers and EPOXYCAST brand names for 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 are provided with epoxy molded resin to protect the transformer’s coils from environmental conditions that cause corrosion and rust to unprotected copper coil windings. The Company’s transformer product line is sold within the United States and across the world.
United Capital Corp
United Capital Building 9 Park P
GREAT NECK NY 11021