Plastic Innovators Corp. of Chicago continued its expansion into Korean-made plastics machinery by acquiring a 70 percent stake in Apex Molding Machinery Manufacturing. Apex of Seoul, South Korea, makes toggle-clamp injection molding machines with clamping forces as large as 1,500 tons, according to Fred R. Pollak, president of Plastic Innovators. Plastic Innovators had imported Apex machines. Terms were not disclosed.
Longer term, Plastic Innovators has its eyes on Mexico-building machines there and possibly setting up a joint venture.
By 1997, the company plans to form a venture with Dae Young Co. of Seoul, to manufacture injection molding machines in Monterrey, Mexico. Plastic Innovators already is the exclusive importer and sales agent for Dae Young presses in North, South and Central America.
Beyond that plan, Plastic Innovators wants to explore alliances with processors in Mexico - injection molders, blow molders or thermoformers - Pollak said in a Dec. 27 telephone interview from Chicago. Plastic Innovators supplies all three types of equipment: blow molding machines from Dae Hung Co. with capacity to make 58-gallon containers, and in-line, roll-feed thermoforming machines from Seojin Machinery Co. Ltd. Both Korean companies are based in Seoul.
Plastic Innovators also sells auxiliary equipment made by Han Yang Enterprises of Seoul.
Pollak said Plastic Innovators and its Korean partner companies plan to offer the Maco 4000 controller from Barber-Colman Co. as a standard feature.
