MIAMI, OKLA. (June 13, 10:15 a.m. ET) — Plastic fuel can molder Blitz USA Inc. will shut operations after unsuccessfully trying to reorganize under Chapter 11 bankruptcy protection since Nov. 9, 2011, according to a newspaper report. The July 31 shutdown will affect 117 employees. Blitz has been facing a storm of lawsuits blaming its products for consumer injuries caused by fires. The firm spent some $30 million on product liability suits and owes $3.5 million in legal fees.
U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.
Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.
Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.
GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014
In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.
Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.
This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.Learn more