Advanstar not selling 4 plastics titles CLEVELAND - Advanstar Communications Inc. of Cleveland announced Jan. 31 it has ended negotiations to sell the rights to four former plastics industry publications to PTN Publishing Co. of Melville, N.Y.
Advanstar said it has decided not to sell Plastics Machinery & Equipment, Plastics Compounding, Plastics Design Forum and Advanced Composites, and that it is considering publishing one of the magazines and a directory that accompanies it again.
Advanstar closed PM&E, Plastics Compounding and Plastics Design Forum in December. Those magazines last were published in November and December. Advanced Composites was closed earlier in 1994.
Advanstar spokeswoman Mary Abood said Gary Ingersoll, the new president and chief executive officer of the company, decided to end negotiations with PTN, which separately publishes Plastics World magazine.
Abood said Advanstar executives are to meet the week of Feb. 6 to discuss the magazines, and to determine when and where they might be published again. Advanstar issued a Jan. 31 statement to employees that said it is examining the possibility of resuming publication of Plastics Compounding and its annual directory, Plastics Compounding Redbook.
``The company does not have plans at this time to publish Plastics Machinery & Equipment, Plastics Design Forum or Advanced Composites,'' the statement said. Meanwhile, the company said it will continue to market the circulation data bases for the four publications. GREER, S.C.-Diafoil Hoechst Co. Ltd. is forming a new firm, P.T. Bakrie Diafoil, to make and sell polyester film in Indonesia.
Dialoil Hoechst forming film company
Greer, S.C.-Diafoil Hoechst will own 80 percent of the joint venture, with the remainder held by P.T. Bakrie Kasei Corp. of Jakarta, Indonesia. The plant will be located at Bakrie Kasei's existing resin production site.
Initially the venture will have one packaging film line, relocated from Japan, capable of making 10 million pounds of film annually. Production is scheduled to begin in July 1996.
Diafoil Hoechst and Hoechst Diafoil Co. of Greer are part of a PET film joint venture owned by Hoechst Celanese Corp., its parent Hoechst AG and Japan's Mitsubishi Chemical Corp.