MAUMEE, OHIO - Trinova Corp., the Maumee-based parent of Aeroquip Corp., said Oct. 12 that it will phase out three molding plants, including one in Henderson, Ky., that it previously put up for sale. Trinova said a consolidation of molding operations led to a decision to phase out two small plants in Sterling Heights, Mich. One of the plants closed Sept. 1 and the other is scheduled to be shuttered by the end of November. The Henderson plant, which was originally set for closing Sept. 1, is still producing parts for customers. The company continues to look for a buyer for the Henderson operation.
The plant closings do not signal any intent by Trinova to exit the molding business, said spokesman Warren Bimblick.
Aeroquip Automotive was 18th in Plastics News' 1995 ranking of North American injection molders, with injection molding-related sales of $158.3 million. Total 1994 sales were $1.8 billion.
Kerr Group mulls sale, other options
LOS ANGELES - Kerr Group Inc. of Los Angeles has retainedLehman Bros. of New York to review ways of maximizing shareholder value, including the sale of all or some of the company.
Kerr said in an Oct. 11 news release that it expects a loss for its third quarter and year because of cost pressures for plastic products and lower home canning supplies sales. It said given consolidations occuring in the packaging industry, ``alternative strategies should be considered.'' Officials declined comment.
Its plastic products business, mainly packaging, had sales of $106.8 million for the year ended Dec. 31. Total sales of $139.2 million included its other major business, home canning supplies. Kerr reported its 1994 injection molding sales at $96 million in Plastics News' latest survey. Plastics News estimates Kerr's 1994 blow molding sales at $24.3 million.
New Unimark plant to get 16 presses
SPRINGFIELD, MO. - Custom injection molder Unimark Plastics Corp. will install 16 Van Dorn Demag injection molding machines at its new, 42,000-square-foot Springfield plant, set to open in January.
The 16 machines are all 230-ton, HT Series toggle injection molding units. Unimark previously had purchased eight of the company's smaller-tonnage ET model machines for its Reedsville, Pa., and Arecibo, Puerto Rico, molding facilities.
Unimark, based in Greenville, S.C., and a division of Muncie, Ind.-based Alltrista Corp., initially will make shotgun shell parts for Olin Winchester Corp. and Remington Arms Co. Inc. Alltrista spokesman Larry Miller said the decision to build in Springfield is partly based on its proximity to those customers.
Unimark plans a 23,000-square-foot addition to the Springfield plant. Initial employment is expected to reach 55.
Crocker opens $2.7 million Mich. plant
THREE RIVERS, MICH. - Crocker Ltd. of Three Rivers will begin blow molding later this month at a new plant in Coldwater, Mich., after spending about $2.7 million on the 24,000-square-foot facility and equipment.
Ed Bell, Coldwater's plant manager, said Crocker's other two blow molding facilities, in Three Rivers and Centreville, Mich., are running at capacity. Crocker will start with six blow molders in Coldwater moved from its other plants. Bell said it also plans to buy new machines.
The firm custom molds parts for agriculture, furniture, toys, housewares and other industries. It had sales of more than $14 million last year, employs about 215 and has 23 blow molders.
Anchor Lamina plans stock offering
WINDSOR, ONTARIO - Anchor Lamina Inc. plans a public share issue of C$24 million (US$17.9 million) to help fund expansion and acquisition in its tool, die and mold businesses.
The Windsor firm has budgeted C$36 million (US$26.9 million) in capital expenditures for its fiscal year that will end Aug. 31, and will devote about 30 percent of that to plastic mold-related business, Anchor President Clare Winterbottom said.
The company makes mold components and mold plates, and offers mold-stress relieving services to the plastics industry.
An underwriting group led by Loewen, Ondaatje, McCutcheon Ltd. of Toronto, will handle Anchor's issue of 4 million common shares at C$6 (US$4.48) per share. Anchor shares trade on the Toronto Stock Exchange.
