Assets of 3 molding plants to be sold

By Frank Esposito
Senior Staff Reporter

Published: September 20, 2013 2:44 pm ET
Updated: September 20, 2013 2:47 pm ET

Related to this story

Topics Appliances, Injection Molding

The assets of two injection molding plants formerly operated by Plastic Systems LLC, and the assets of one Bourbon Plastics Inc. plant, will be sold off in online auctions later this month.

Plastic Systems closed its plants in Swartz Creek, Mich., and Kenton, Ohio, in June. CEO Steve Belleville said in a Sept. 13 phone interview that the closings occurred because his Romeo, Mich.-based firm “had a good chunk of capacity in the Midwest.”

“It made sense to right-size the Midwest,” he added. “It’s a good thing for the company. Our other plants [in Romeo and El Paso, Texas] are doing well.”

Both the Kenton and Swartz Creek plants primarily made injection molded parts for the automotive market. The Kenton plant employed 60 and covered 80,000 square feet. Plastic Systems acquired the site in 2007 from Innoplas Corp. just a few days before it was scheduled to close.

The 40,000-square-foot Swartz Creek plant employed about 20. It formerly was the site of PME International LLC before being acquired by Plastic Systems in 2006.

“It’s never a good situation when you affect people’s lives like this, but it’s the necessary thing to do,” Belleville said.

He added that Plastic Systems’ sales this year are on track to be flat with 2012 at just under $30 million, but prospects for 2014 look to be improving.

A dozen injection presses with clamping forces of 75-500 tons will be sold at auction Sept. 18-19 at the Swartz Creek plant. In Kenton, 20 injection presses — ranging in size from 50-800 tons — will be sold at auction Sept. 24-25.

Both auctions will be conducted by the Branford Group of Branford, Conn. Both auctions will include “a lot of good equipment in really good shape,” group partner James Gardner said by phone Sept. 13.

The Kenton auction also will include multiple pieces of support equipment, including robots, dryers, grinders and forklifts. Two tanker trailers and a pickup truck also will be sold. In Swartz Creek, the auction also will include dryers, grinders, a stretch wrapper and a 5-ton crane.

Bourbon Plastics, an injection molder serving the appliance market, closed its plant in Bourbon, Ind., earlier this year, Gardner said. Officials with the firm could not be reached. A phone call to the firm’s plant in El Paso, Texas, was not answered.

Bourbon Plastics’ annual sales were estimated at $5 million in Plastics News’ most recent ranking of North American injection molders. The court-ordered, online auction will take place Oct. 9-10 and will include 18 injection molding machines ranging in size from 55 to 1,100 tons.


Comments

Assets of 3 molding plants to be sold

By Frank Esposito
Senior Staff Reporter

Published: September 20, 2013 2:44 pm ET
Updated: September 20, 2013 2:47 pm ET

Post Your Comments


Back to story


More stories

Image

Hyundai Mobis investing $24 million to expand in Slovakia

January 22, 2015 9:28 am ET

South Korean auto parts maker Hyundai Mobis has unveiled plans to invest about 21 million euros ($24.1 million) to modernize and expand the output...    More

Image

Pyramid investing in new presses as it targets sales in medical, technical molding

January 21, 2015 1:40 pm ET

Custom molder Pyramid Plastics Inc. is investing to boost its stake in medical and technical molding.    More

Image

Hart takes hands-on approach

January 21, 2015 11:06 am ET

When Melanie Hart walks the floor of one of her plants, she solves problems.    More

Image

Canada's ABC Group to launch Polish car parts plant

January 19, 2015 9:10 am ET

Canadian auto parts supplier ABC Group Inc. has unveiled plans to set up a new production facility in Bydgoszcz, in northwestern Poland, reports...    More

Image

Sleek use of plastics add function, polish to JCI concept

January 19, 2015 6:00 am ET

When the next generation of vehicle owners takes the driver's seat, they'll do a lot more than drive. That's the idea behind Johnson Controls Inc's ne...    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