Industry and war vet Charles Gitto Jr. dies at 80

By Frank Esposito
Senior Staff Reporter

Published: November 2, 2012 6:00 am ET

Related to this story

Topics Materials, Suppliers

FITCHBURG, MASS. (Nov. 2, 3:40 p.m. ET) — Longtime plastics compounding executive Charles Gitto Jr. passed away Oct. 26 at age 80.

Gitto Jr. was a native of Fitchburg who served as a U.S. Marine in the Korean War. After his military service, he earned a degree from Clark University in Worcester, Mass. Gitto Jr. then worked in sales for Great American Chemical Co. and for Lynn Plastics, an early PVC compounder in Lynn, Mass. He next founded PVC compounder Abbott Industries, but sold that firm in 1979 to join his brother Samuel Gitto in launching Gary Chemical Corp. in Leominster, Mass.

Gary Chemical developed, produced and marketed PVC compounds, primarily for the footwear and wire and cable markets. Gitto sold Gary Chemical to Evode Ltd. in 1989. Evode renamed the firm AlphaGary Corp. It later was owned by Rockwood Holdings Inc., which sold it to Mexichem SAB de CV last year.

After selling Gary Chemical, Gitto owned Pace Wire and Cable in Pepperell, Mass., before re-entering the compounding market in 1990 with Gitto Corp. in Lunenburg, Mass. That business later merged with another firm to become Gitto Global Corp.

The latter years of Charles Gitto Jr.’s career were marred by a financial scandal that enveloped Gitto Global. That scandal resulted in his being indicted in 2008 on federal charges of conspiracy and wire fraud. Five other Gitto Global officials — including Gitto’s son, Gary, whom Gary Chemical was named for — also were indicted. Federal officials claimed that the firm’s executives used company funds for their own personal use, eventually running up corporate debt of more than $50 million.

Gitto Global had filed for bankruptcy in 2004. At that time, an attorney for Gitto Jr. told Plastics News that Gitto wasn’t involved with the firm and that his title of chairman was only an honorary title. Gitto Jr. did own Tradex Corp., a firm that owned the building and land that housed Gitto Global. Tradex filed for bankruptcy in 2005.

In late 2010, Gitto Jr. was dismissed from the case against him because medical conditions prevented him from being able to assist in his own defense.

While in the military, Gitto Jr. won a National Defense Service Medal and three others. He later won numerous awards for his involvement in civic affairs in the Leominster area.

Gitto Jr. served on the Board of Trustees at St. Anselm’s College in Manchester, N.H. He and his family also donated to fund a science lab and study room at Boston College in Chestnut Hill, Mass.


Comments

Industry and war vet Charles Gitto Jr. dies at 80

By Frank Esposito
Senior Staff Reporter

Published: November 2, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Image

Dow sees solid second quarter performance

July 29, 2014 11:19 am ET

Dow Chemical Co. has reported its second quarter figures, with its seventh consecutive quarter of growth, according to the company.More

Image

Evonik sells polyimide foams operation to Boyd

July 29, 2014 10:46 am ET

Modesto, Calif.-based Boyd Corp., a manufacturers of specialty material and sealing agents, has purchased Evonik Industries’...    More

Image

Formosa to be compensated for Vietnam riot

July 28, 2014 1:44 pm ET

Taiwan's Formosa Plastics Group will receive $2.39 million from the Vietnamese government and insurance companies for damages suffered during the anti...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

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.

Learn more

Shale Gas Market - Analysis of North American Region

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

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events