JFJ Mold Processors up for sale

By Michael Lauzon
Correspondent

Published: June 5, 2014 12:23 pm ET
Updated: June 5, 2014 12:26 pm ET

Related to this story

Topics Mergers & Acquisitions, Automotive, Injection Molding

An automotive injection molder in Windsor, Ontario, is for sale.

JFJ Mold Processors (1998) Ltd. has about 18 injection presses with clamping forces ranging from 80-1,750 tons in a 48,000-square-foot leased facility. It mainly does Tier 2 work for Chrysler Group, Ford Motor Co. and General Motors Co.

BDO Canada Ltd.’s London, Ontario, office is handling the sale. The Ontario Superior Court of Justice appointed BDO Canada receiver in a May 6 order based on an application by creditor Windsor Family Credit Union. BDO Canada is accepting offers until June 12. No later than June 30, the receiver plans to review offers and try to arrange a purchase agreement. BDO Canada stresses the process is not considered a sale by tender.

Labor union Unifor Local 195 recently held a vote for a new contract at JFJ and the union reports the proposed agreement was overwhelmingly approved. Unifor said the agreement was signed while JFJ was under bankruptcy protection. Workers agreed to low wage increases in the new contract, Unifor said in its April issue of the Guardian newsletter.

JFJ President John Tamasovics Jr. did not respond to requests for an interview. Federal ministry Industry Canada estimated JFJ’s annual sales were about C$5 million to C$10 million (US$4.6 million to US$9.2 million). At its peak, JFJ employed about 60.

JFJ was established in 1965 by John Tamasovics Sr. and the company remained in the family. The founder got his start in injection molding after working for major mold builder International Tool Ltd. of Windsor.


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JFJ Mold Processors up for sale

By Michael Lauzon
Correspondent

Published: June 5, 2014 12:23 pm ET
Updated: June 5, 2014 12:26 pm ET

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