ARCADIA, CALIF. - Reid Plastics Inc. of Arcadia last month purchased Propak-California Corp. in City of Industry, Calif., creating a bottle maker with annual sales of about $100 million. Terms were not disclosed, but industry observers estimated that Reid paid $25 million.
Propak-California makes industrial and household chemical containers, water, milk, juice and food containers, and personal-care and pharmaceutical bottles. Propak has a new president, Ted Reusch.
Propak-California operates 80 machines in six plants. It employs 600 and ranked 20th in Plastics News' 1994 survey of North American blow molders, with sales of $60 million.
Reid's 1994 estimated sales were $40 million. It operates six plants with an estimated 21 machines and employs 200. The firm blow molds containers for water and specialty foods. Reid President B. Joseph Rokus would not comment on the deal.
Propak has acquired several container companies in recent years to broaden its markets and increase sales.
North American Tech buys fittings firm
HOUSTON - North American Technologies Group Inc. will acquire Industrial Pipe Fittings Inc., a maker and distributor of plastic and metal fittings for high density polyethylene pipe.
Terms were not disclosed. Both firms are based in Houston.
IPF generated sales of more than $500,000 and was profitable in 1994, its first year of operations, according to North American Technologies, which focuses on environmental technology used to clean up contaminants.
IPF currently outsources production of its plastic fittings. New IPF President David Daniels said the company later this year will begin welding larger plastic fittings, as large as 30 inches in diameter. The company eventually plans to do its own injection molding of smaller fittings.
Daniels, who is also a director, executive vice president and chief operating officer of North American Technologies, said the company is not affiliated with PVC pipe extruder North American Pipe Corp.
Auction slated for cosmetics packager
TORONTO - A Toronto auction company will sell plastic bottlemaking equipment from Chesebrough-Pond's (Canada) Inc.'s former cosmetics plant in Markham, Ontario, north of Toronto.
Trans-Canada Liquidations Ltd. will hold the auction April 18 on the site of the former manufacturing plant.
Plastics equipment for sale includes five blow molding machines, three injection molding presses, grinders, chillers and other equipment.
Chesebrough-Pond's closed the Markham plant in February. Chesebrough-Pond's USA Co. of Clinton, Conn., closed its Chicago oral hygiene product plant late last year and moved production to Jefferson City, Mo.
The Chicago facility bought plastics packaging from outside suppliers. Jefferson City has its own plastics packaging operation for various pumps, caps and bottles.
Intertape completes Portugal venture
MONTREAL - Intertape Polymer Group Inc. has completed a joint venture in Portugal to make polyolefin shrink wrap films.
The Montreal firm announced April 4 that it will hold 50 percent ownership of the venture. Fibope Portuguesa will hold the rest. Terms were not disclosed.
Intertape announced an agreement for the venture last fall. It said it would provide technology for a 20,000-square-foot plant.
The firm's products in North America include shrink film, woven polyolefin sheets and packaging, and plastic beverage containers.
U.S. firms buys Ford plant in Australia
MELBOURNE, AUSTRALIA - Automobile manufacturer Ford Motor Co. of Australia Ltd. will sell its Melbourne plastics plant to Venture Industries Inc. of Fraser, Mich.
Lynette Walker, Ford public affairs manager, said the two parties have signed a memorandum of understanding that will see a deal completed, subject to government approvals and legal consideration, by June.
She said the transfer will involve a combination of cash and lease payments and long-term supply of plastics components to Ford. All land and buildings will remain the property of Ford and all 450 employees will be retained.