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

Image

Material Insights: PP production issues, preparing for NPE

January 26, 2015 1:38 pm ET

Production problems in Texas add more complication for polypropylene, Entek has new equipment ready to show compounders at NPE and we take a look...    More

Image

J6 Polymers to buy Stepan unit

January 26, 2015 12:22 pm ET

NORTHFIELD, ILL. — Stepan Co. plans to sell its specialty polyurethanes systems business to J6 Polymers LLC in a cash deal.    More

Image

UK legislators debate fracking

January 26, 2015 12:19 pm ET

LONDON — An influential group of members of Parliament has called for a moratorium to be imposed on fracking for shale gas as politicians...    More

Image

Oxo-biodegradable lobby slams 'scaremongering'

January 26, 2015 12:16 pm ET

Single-use plastic carrier bags made from biodegradable material should be exempted from the government’s proposed 5p-a-bag levy in England,...    More

Image

2014 leaves some resin firms in the black while others struggle

January 23, 2015 2:37 pm ET

On the financial side, 2014 was good for Hexcel Corp., so-so for Celanese Corp. and it could have been better for Omnova Solutions.    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events