Justice Dept. investigating PE pricing AKRON, OHIO - Several polyethylene resin suppliers confirmed last week that they were served in early January with a civil investigative demand by the U.S. Justice Department, which is investigating pricing practices in the industry.
Resin company executives would not discuss the matter for the record. Several said their companies are continuing to gather information to supply to the Justice Department, and added they believed the Justice Department launched an investigation because of complaints made by extruders who use large quantities of PE resins.
Justice Department officials in Washington could not be reached for comment.
ICI buys German extruded sheet plant
DARWEN, ENGLAND - ICI Acrylics announced Jan. 26 that it bought the Klockner Petatec acrylic and polycarbonate sheet extrusion plant and business in Nischwitz, Germany.
The plant employs about 60 and serves the sign, point-of-sale advertising and glazing markets. Terms were not disclosed.
``The business was purchased for a competitive price and potentially its annual sales turnover could rise to over 30 million ($47.7 million) within the next three years,'' said Scott Davidson, chief executive officer for ICI Acrylics, based in Darwen. ICI Acrylics is a unit of London-based Imperial Chemical Industries plc.
Plascom closes, new scrap firm opens
TRENTON, N.J. - Michael Domino, former partner in plastic scrap company Plascom Trading Co., has formed a new scrap firm in Trenton.
Domino Plastics Co. began operations Jan. 17, a day after Plascom was liquidated, Domino said. The new firm, like Plascom, deals in a range of post-industrial thermoplastic scrap.
Domino said he is majority owner and director of Domino Plastics, with Theresa Beltley, former operations manager at Plascom, the minority shareholder with a 10 percent interest. Domino Plastics employs most former Plascom officials.
Domino and Michael Ross were equal, joint owners of Plascom before the partners ``decided to go separate ways,'' Domino said. He described Plascom as a successful company. Ross could not be reached for comment.
Mann + Hummel finishes Una-Dyn deal
WOODBRIDGE, VA. - Mann + Hummel GmbH of Germany on Jan. 12 completed its purchase of auxiliary equipment manufacturer Universal Dynamics Inc. of Woodbridge.
Mann + Hummel paid $12.5 million, or $7.55 a share, according to Dewey Rainville, former chief executive officer of Una-Dyn. The deal was first announced in March. The Rainville family owned 87 percent of the company.
Donald Rainville will remain as president of Una-Dyn. His father, Dewey, who bought the company in the early 1960s, will remain as a consultant.
Una-Dyn employs about 200 people making a full line of auxiliary machinery, including dryers, loaders, feeders and other conveying and blending equipment. With 5,400 employees, Mann + Hummel is a major German manufacturer of plastics auxiliary equipment based in Ludwigsburg.
WINONA, MINN. - RTP Co. acquired French thermoplastics compounder Codiplast SNC on Jan. 12 for an undisclosed sum.
Codiplast, based in Beaune, about 150 miles southeast of Paris, specializes in small-volume, precolored compounds. RTP's Patrick Ellis was named general manager of the French firm.
RTP, an independent compounder headquartered in Winona, also operates plants in South Boston, Va., and Dayton, Nev.
EnPac has acquired a license to manufacture Warner-Lambert Co.'s Novon biodegradable resin used to manufacture loose-fill packaging, and the North American distribution rights to Novamont SpA's Mater-Bi biodegradable resins for injection molding, film and foam extrusion. Environmental Packaging L.P., doing business as EnPac, is owned by DuPont Co. of Wilmington, Del., and Con-Agra Inc. of Omaha, Neb. EnPac is based in Wilmington.