POMONA, CALIF.-Diamond Plastics Inc., a blow molder based in Pomona, shut down operations March 15. The company had filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code in February, and has now filed for Chapter 7 dissolution.
Julio Sergio Bueno y Cadena, president and chief executive officer of the company, said recent problems stemming from the devaluation of the Mexican peso and tough competition in the southern California market forced the moves.
The company is owned by Consorcio Bueno y Ramirez of Guadalajara, Mexico, and operated in the United States under the names Plasticos Arco Iris/Rainbow Packaging Inc.
Diamond reported about $8 million in sales last year. The company supplied the cosmetic, pharmaceutical and personal-care industries.
Key Plastics finishes Mexican facility
LIVONIA, MICH. - Key Plastics Inc. recently completed construction of a 65,000-square-foot custom injection molding facility in Chihuahua, Mexico. Key will supply a Ford Motor Co. plant that operates nearby, said Harry Siegel, director of international operations.
The plant will hold 19 presses when fully operational. It now has 10 presses with clamping forces of 200-700 tons.
Key also installed an enclosed overhead paint line, and may add other secondary operations, including pad printing.
Although primarily a supplier to the automotive industry, the Livonia-based company plans to seek work from a variety of original equipment manufacturers in northern Mexico.
Key reported 1994 injection molding-related sales of $195 million, placing it at No. 12 on Plastics News' current injection molders ranking.
Blow molder Polypak Industries closes
CALGARY, ALBERTA - Natural Springs Canada Inc. closed its blow molding plant in Calgary because of continuing losses.
Natural Springs, based in Calgary, shut its Polypak Industries Inc. subsidiary March 9 to ``relieve Natural Springs from having to support Polypak's operating losses,'' the firm said in a news release.
Polypak began molding polyethylene and PVC bottles in November 1992 after investing about C$1 million (US$780,000) to make custom and captive bottles. It began with three used Bekum machines in a leased 20,000-square-foot plant.
Company officials were not available for comment. Natural Springs is publicly traded on the Alberta Stock Exchange.
Kal Plastics expands in thermoforming
GARDENA, CALIF. - Kal Plastics will expand and upgrade its thermoforming operation this year to keep pace with its custom business.
The Gardena firm plans to buy a five-axis, computer numerically controlled routing machine for more precise cutting. It also will add a pressure forming line, said Tom York, Kal's president. He estimated the program will cost at least a few hundred thousand dollars.
Kal makes motor shrouds, display case components, chair backs and other complex, custom parts.
York said his company recently invested about $100,000 to convert its ovens from rod heating to quartz infrared heating for better efficiency. It has three three-station rotary thermoformers, a single-station thermoformer for prototype work and two extrusion lines for captive and custom use.
York has been sole owner of Kal for five years. It had sales of about $1 million last year.
Thermoformer Gage adda equipment
LAKE OSWEGO, ORE. - Gage Industries Inc. of Lake Oswego expanded its custom thermoforming operations with a new, computer-controlled, Laser Lab five-axis laser router and a sixth threestation rotary thermoforming machine.
Gage now operates two of the five Laser Lab routers in North America, the company said. Laser trimming ensures precise cutting of difficult-to-trim parts and increases efficiency, said Liz Gage, a company spokeswoman.
Gage also has two single-station formers and six in-line machines. Gage supplies its thermoforming operations with sheet from its own coextrusion lines.
Gage employs 250 in a 130,000-square-foot facility.