Racing parts molder relocation status unclear

By Michael Lauzon
Correspondent

Published: October 31, 2013 5:05 pm ET
Updated: October 31, 2013 5:07 pm ET

Related to this story

Topics Automotive, Injection Molding, Thermoforming

A racing vehicle components firm has qualified for assistance to relocate and injection mold parts in Thomasville, N.C., according to local news reports.

SV Plastics LLC told government officials it hopes to create 25 jobs and invest $2.2 million in the project, according to The Dispatch in Lexington, N.C.

SV proposes moving from Hebron, Ohio, to Thomasville, where related companies also will be based. One of the related companies will be CV Products, now also based in Hebron. CV Products was formed in 1997 by Ken and Glen Laivins, according to CV’s web site. It has injection molding and thermoforming capabilities to make racing vehicle accessories based on patents and rights owned by SV, according to the web site.

SV and CV officials declined to be interviewed or to explain the relationship between the companies. Managers would not speculate when SV and CV would relocate but as of the week of Oct. 21 no move had occurred. Thomasville has qualified SV for a $500,000 Community Development Block Grant for building reuse, provided SV creates jobs by October 2015. Other conditions for the grant include setting aside 60 percent of the jobs for low- and middle-income residents, The Dispatch reported Oct. 21. The new jobs would have annual salaries of about $50,000 in SV’s proposal.

Thomasville city manager Kelly Craver, quoted in The Dispatch article, could not be reached by Plastics News to clarify the status of the relocation.

When government officials initially began reviewing SV’s proposal they referred to it as Project Z13, according to an Aug. 26 report in the Winston-Salem Journal. SV’s identity for the Z13 proposal was confirmed in July. In May, Davidson County Board of Commissioners approved up to $29,700 in tax-rebate incentives for SV. Other local incentives worth about $13,000 over five years are also offered to SV to create jobs.

 


Comments

Racing parts molder relocation status unclear

By Michael Lauzon
Correspondent

Published: October 31, 2013 5:05 pm ET
Updated: October 31, 2013 5:07 pm ET

Post Your Comments


Back to story


More stories

Private equity firm buys majority share of truck accessory maker

July 31, 2014 10:30 am ET

A majority share of Ann Arbor, Mich.-based truck accessory manufacturer Tectum Holdings Inc. has been acquired by Boston-based private equity firm TA ...    More

Spain's ITC Packaging acquires Coveris rigids plant

July 31, 2014 9:59 am ET

International packaging group Coveris Holdings has sold its Spanish business Coveris Rigid Spain, including an injection molding plant, to the...    More

Image

Tessy investing $10 million in new plant, infrastructure

July 30, 2014 4:57 pm ET

Tessy Plastics Corp. continues to buy factory buildings in upstate New York — acquiring a 112,000-square-foot former Honeywell building in...    More

Image

Magna expanding interiors site in Slovakia

July 29, 2014 1:47 pm ET

Magna International Inc. plans to nearly double the size of its manufacturing facility in Trnava, in western Slovakia, to accommodate new automotive...    More

Image

One51 adding injection molder Straight to its bin molding portfolio

July 29, 2014 10:12 am ET

Dublin-based One51 plc has had its purchase of British trash bin maker Straight plc cleared by the United Kingdom's Competition and Markets Authority.    More

Market Reports

Pipe, Profile & Tubing Extrusion in North America 2014

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.

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