NEENAH, WIS.-ABT Building Products Corp. paid $14.1 million for KenTech Plastics Inc. when it bought the major injection molder of shutters in April, according to a financial document. ABT got the money from a revolving line of credit, the company said in a 10-Q report filed for the third quarter ended Sept. 30.
Neenah-based ABT makes wood building products and foamed plastic trim moldings. KenTech was its first injection molding acquisition. KenTech is based in Hopkinsville, Ky.
Also last year, ABT bought the vinyl siding business of Emco Ltd. of Acton, Ontario. The purchase price, $33 million, was released earlier.
Michael Lupo, executive vice president and chief financial officer, said the company continues to seek acquisitions of makers of plastic building products.
He said year-end numbers should come out Jan. 23, just before the Jan. 26-29 Builders' Show in Houston. ABT will exhibit at the show, sponsored by the National Association of Home Builders.
Ariz. blow molder to expand business
CHANDLER, ARIZ. - A proprietary blow molder of sports bottles in Chandler recently entered the custom blow molding business.
Jim Coyle, president of Royle Graphics Inc., bought a second two-head, B-13 model molding machine to expand operations.
Coyle started the firm in 1990 as a marketing and sales company, and began blow molding his own products in 1992. Although Coyle can fill orders using one machine, he said he wanted to be prepared for expanding business in 1996. Part of that expansion is offering machine time on a custom basis.
Coyle, who employs 42 and makes sports bottles for accounts including college football's Rose and Citrus bowls, said he also offers silk-screening capabilities and can mold bottles up to a one-half gallon in size.
Fire destroys Ala. plastic lumber plant
SELMA, ALA. - A fire of undetermined origin destroyed the factory of Superwood of Alabama Inc. Dec. 30.
A Selma Fire Department spokesman said the blaze was reported at the plastic lumber manufacturer's four-building complex about 2 a.m., and reignited several times. Two firefighters sustained burns on their hands.
Fire investigators declared the building a total loss. No damage estimate was available. Co-owner Ralph Hobbs said the firm did have a small amount of inventory, but that it would not be able to meet the bulk of its orders.
``The community is upset over the loss of 40 jobs, and certainly the owners are upset over loss of a business on which we spent a lot of blood, sweat and tears over six years,'' he said. ``It is too soon to tell whether we would be able to get back in operation soon.''
He said the blaze apparently started in the grinding area, but he confirmed that no cause had been found.
Superwood makes profiles, picnic tables, benches, car stops and landscape timbers at the Selma plant.
US Farathane buys Eagle-Picher unit
ROYAL OAK, MICH. - Eagle-Picher Industries Inc. is selling its Orthane Division, a supplier of injection molded polyurethane parts for the automotive industry, to US Farathane Corp. of Royal Oak.
The firms said the deal, which must be approved by federal bankruptcy court, was valued in the multimillion dollar range. Orthane, based in Denton, Texas, has annual sales of $8 million. Eagle-Picher will keep that part of the Orthane business, which manufactures automotive tubing, and most likely will move it to Michigan, said spokesman Rod Nall.
Cincinnati-based Eagle-Picher has been operating under Chapter 11 of the U.S. Bankruptcy Code since January 1991. The company sought protection for an estimated $2.5 billion in personal injury claims resulting from an asbestos insulation product it manufactured from 1934-71.
US Farathane, with sales of $40 million in 1995, said the acquisition is the first step in a ``significant'' expansion of its molded, cast and extruded plastic and rubber parts business.
US Farathane will continue to look for more acquisitions.
``We hope this is just the first of many,'' said John Siddall, director of engineering.