Philadelphia molder ASK Plastics closing

By Bill Bregar
Senior Staff Reporter

Published: November 30, 2012 6:00 am ET

Related to this story

Topics Injection Molding
Companies & Associations

PHILADELPHIA (Nov. 30, 2:35 p.m. ET) — ASK Plastics Inc., a Philadelphia custom injection molder founded in 1945, is closing down, and Branford Group is set to auction off its equipment Dec. 12 — including several large-tonnage injection presses.

Andrew Vartanian, the president since 1990, said the recession hurt ASK.

“As the economy slowed over the past few years, we were not able to maintain a critical sales mass to sustain operations in a healthy manner,” he wrote in an email to Plastics News. “Cash-flow issues were an ongoing problem and as much as we tried we could not turn it around.”

ASK has moved its molding work to Injectron Corp. in Plainfield, N.J.

Branford, Conn.-based Branford Group will conduct the auction live at the plant and online. The gavel will fall to sell 17 injection molding presses. The largest ones are a 1995 Cincinnati Milacron with 1,500 tons of clamping force, a 1,000-ton 1995 Ube, a 1994 MIR of 1,134 tons and several presses around 700 tons.

Other machine brands include Ferromatik, Toshiba, Engel and Nissei. Most of the presses are from the mid-1990s.

The auction also will sell off auxiliary equipment, including 11 robots, temperature controllers, hot-runner controls, granulators and dryers.

Vartanian said his grandfather Harry Vartanian founded the company with two partners in 1945 and soon bought them out. At first ASK made wooden oars for the government, then the firm got into injection molding around 1950, making handles for automotive jumper cables.

His father, Andrew Vartanian Sr., and an uncle, Haig Vartanian, were partners in the business through the 1960s and 1970s. Vartanian, now the sole owner, has worked there for more than 35 years, starting as a machine operator and working his way up through every department, until he became president.

Despite ASK’s cash-flow problems, the company was paying its lender, but it struggled and eventually was unable to meet its obligations to suppliers, “who we always viewed as valued and essential business partners, many with whom we had successful long-term relationships,” Vartanian wrote.

ASK employed about 60 people. About 25 were laid off in the final days. Some found other jobs after they got a heads-up about the closing, he said.

ASK will close its doors at the end of the year when all the inventory is moved out, he wrote.

Vartanian said the decision to close the family business was “my most difficult business decision ever.”

Branford Group’s website said the auction is on behalf of the secured lender for the machinery, Capital Equipment Solutions LLC.


Comments

Philadelphia molder ASK Plastics closing

By Bill Bregar
Senior Staff Reporter

Published: November 30, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Haitian builds system for Renault's new China auto assembly plant

April 24, 2015 11:10 am ET

A late-comer to the world's largest auto market, French carmaker Renault SA is currently building its first factory in China.    More

Image

Wittmann Battenfeld betting on big for future sales

April 24, 2015 12:34 pm ET

Five hundred visitors packed into MacroPower Days, about twice as many as Wittmann Battenfeld GmbH officials initially expected — proof, they...    More

Image

Michigan OSHA fines injection molder

April 23, 2015 4:09 pm ET

Michigan-based injection molder Grand Rapids Plastics Inc. faces $558,000 of fines following inspections from state regulators investigating the June ...    More

Image

Deluxe Plastics honored for cart designed to make tool changes easier

April 21, 2015 4:24 pm ET

Deluxe Plastics Inc. used its single-minute exchange of die — or what is better known as a SMED cart — to claim the first Innovation...    More

Image

Keeney adds nine presses to increase capacity at two plants

April 20, 2015 4:21 pm ET

Keeney Manufacturing Co. has installed nine more injection molding machines at two of its East Coast plants to increase production capacity for plasti...    More

Market Reports

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

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events