Blow molder acquires company from bankruptcy

By Michael Lauzon
Correspondent

Published: January 31, 2014 2:01 pm ET
Updated: January 31, 2014 10:27 pm ET

Related to this story

Topics Mergers & Acquisitions, Packaging, Blow Molding

Blow molder Plastique Micron Inc. has established a production base in the neighboring province of Ontario.

Plastique Micron has acquired IMBC Blowmolding Inc. of Orangeville, Ontario, about 25 miles northwest of Toronto. IMBC complements Plastique Micron's blow molding plant and headquarters in Sainte-Claire, Quebec, and its decorating facility in Saint-Anselme, Quebec.

IMBC was sold out of bankruptcy. In December 2013 GE Canada Equipment Financing GP launched legal proceedings that led to the bankruptcy and eventual sale to Plastique Micron. A. Farber & Partners Inc. of Toronto was the receiver in bankruptcy. Plastique Micron was the stalking horse bidder for IMBC and since no better bids were received by the Jan. 7 auction deadline, Plastique Micron got IMBC. The court approved the sale Jan. 15.

IMBC director of operations Sandra Starr said several factors led to the bankruptcy. Prominent among them were a stronger Canadian dollar after IMBC undertook an expansion four years ago. The stronger currency hurt IMBC's export business, its largest component, Starr said in a telephone interview.

IMBC had been successful in exporting because "we were known for quality, on-time delivery and technical expertise," Starr said.

Robert Starr, former owner of IMBC, will act as a technical consultant for the Orangeville business, now known as IMBC Blowmolding (2014) Inc.

Plastique Micron President Bernard Poitras noted in a news release that the acquisition will support his company's presence in Ontario and in global markets. The deal also expands Plastique Micron's product range. Both businesses sell to a diverse customer base.

IMBC's Orangeville operation runs 17 blow molders in a 60,000-square-foot facility. It employs about 35. It processes high and low density polyethylene, polypropylene, PVC, glycol-modified PET and Barex barrier resins, molding containers as large as 8 liters.

Plastique Micron's 85,000-square-foot Sainte-Claire plant contains 31 blow molders using extrusion, injection and stretch technologies and mainly processing HDPE, LDPE, PP and PET. Its Saint-Anselme site does decorating in a 40,000-square-foot facility.

"Our business vision for 2015, will be the acquisition of a factory ideally situated near Montreal," Poitras said.


Comments

Blow molder acquires company from bankruptcy

By Michael Lauzon
Correspondent

Published: January 31, 2014 2:01 pm ET
Updated: January 31, 2014 10:27 pm ET

Post Your Comments


Back to story


More stories

Image

NY packaging company aims for zero waste

September 16, 2014 1:36 pm ET

Plastic folding carton maker Diamond Packaging is no longer sending any manufacturing waste to landfills.    More

Image

Flexibility for complexity key for Brampton

September 16, 2014 11:26 am ET

Blown film machinery maker Brampton Engineering Inc. is well positioned to meet growing demand for complex film structures, highly customized...    More

Image

Here's a peek behind our 2014 film & sheet ranking

September 15, 2014 1:22 pm ET

Today Plastics News publishes its annual ranking of North American Film and Sheet Manufacturers. Let's look at some interesting numbers behind the...    More

Image

Vanee Foods adding hot-fill line

September 15, 2014 1:55 pm ET

Vanee Foods Co. expects to have a new hot-fill bottling line operational at its Broadview, Ill., facility by the end of this month.    More

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German su...    More

Market Reports

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

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

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

Upcoming Plastics News Events

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

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

More Events