MISSISSAUGA, ONTARIO - Rand A Technology Corp. of Mississauga said it plans to acquire Axis SA of Brussels, Belgium, for about C$650,000 (US$462,400), plus an unspecified share of future Axis profit. Axis, a reseller of computer-aided design and manufacturing technology, has annual sales of about C$5 million (US$3.6 million). It employs 10 in two sales and support offices in Belgium and the Netherlands, said John Hayes, Rand vice president and chief financial officer.
Rand provides computer-aided design automation software, hardware, services, training and support through 30 offices in North America and Europe. The publicly owned firm had 1993 sales of $40 million, compared with sales of $21.6 million in 1992, and $12.6 million in 1991, according to a Rand spokesman.
Scrap broker begins grinding operation
AKRON, OHIO-Exchange Plastics Inc., an Akron broker of plastic materials and scrap, has started a grinding operation for post-industrial scrap.
Kevin Copeland, vice president of Exchange Grinding Organization, moved into a leased, 30,000-square-foot building in November. The company has 800,000 pounds per year of grinding capacity on five grinders.
``We just figured after years of having other people grind the scrap we handle, that this would be a way to have better control over our operation,'' Copeland said.
The plant is running one shift now, but will expand to three shifts early this year, he said.
Hoechst Celanese Corp.'s Advanced Materials Group has moved its headquarters to Summit, N.J., from Chatham, N.J. The group, which manufactures and markets engineering and high-performance thermoplastics, is now located in the company's Robert L. Mitchell Technical Center at 90 Morris Ave., Summit, N.J. 07901-3914; tel. (908) 598-4499.
LCI Corp. of Charlotte, N.C., has opened a technical services facility in Charlotte. The facility brings together LCI's service groups for supporting the company's line of gear pumps for the plastics industry. The 14,000-square-foot building has a metrology lab, a parts warehouse and pump assembly and repair capabilities.
PVC supplier Geon Co. of Cleveland has completed the repurchase of 1.4 million shares of its common stock. The total cost of the purchases was $39.4 million, about $28 per share.
The Sacramento, Calif., branch of Cadillac Plastic and Chemical Co. has moved to a new location within the city. The new address is 8210 Berry Ave., Suite 120, Sacramento, Calif. 95828; tel. (916) 388-5640. The firm's Fort Lauderdale, Fla., unit also has moved, to: 1919 N.W. 19 St., Building #7, Suite A, Fort Lauderdale, Fla. 33311; tel. (305) 527-1111.
Draiswerke Inc. of Mahwah, N.J., has opened its new headquarters in Mahwah. The building houses manufacturing; research and development; ware-housing; sales and administra-tive functions; and a technology center for equipment demonstration and testing for customers. The company makes mixing, dispersing, compounding and drying equipment. The new address is: 40 Whitney Road, Mahwah, N.J. 07430; tel. (201) 847-0600, fax (201) 847-0606.