CHARDON, OHIO - Essef Corp., parent of Hobson Bros. Aluminum Foundry and Mould Works in Shell Rock, Iowa, has told shareholders the company plans to sell that subsidiary. Gerald Hobson, president of Hobson Bros., confirmed that the firm is being prepared for sale.
He said buying Hobson Bros. back from Chardon-based Essef is not something he is considering.
Hobson said that since the acquisition of Hobson Bros. in 1988, Essef's course altered as the company became more heavily involved with its core business, the manufacture of swimming pool products such as heaters and valves, and the pressure vessel market.
Hobson Bros. manufactures blow molds and aluminum used to make custom blow molds and provides mold tryouts.
Phillips Plastics adds Santa Clara site
PRESCOTT, WIS. - Custom injection molder Phillips Plastics Corp. has opened an advanced engineering and design business in Santa Clara, Calif.
The firm's Customer Center-West will provide customers with complete concept design, engineering refinement, stereolithography and rapid-prototype parts services, along with prototype manufacturing, decorating and assembly.
The center shares a 10,000-square-foot facility with Infinity Extrusion & Engineering, an affiliated firm that makes critical tolerance micro-extrusions and injection molded components.
Phillips, based in Phillips, Wis., was 23rd in Plastics News' 1995 ranking of North American injection molders, with $133 million in annual sales. Robert Cervenka, chief executive officer, said in a prepared statement the company also is ``narrowing'' site choices in the eastern United States, with an eye toward opening a similar prototype and design facility within three months.
Phillips operates a technical center in Prescott.
Spartech pays $16 million for Portage
CLAYTON, MO. - Sheet extruder Spartech Corp. announced Feb. 23 a definitive agreement to acquire Portage Industries Corp. of Portage, Wis., in a deal expected to close May 1.
Spartech said it agreed to pay $6.60 in cash per Portage share, a price it and Portage announced a month earlier when the two companies signed a letter of intent.
The purchase price for Portage, a $35 million-per-year firm, will total about $16 million. Spartech reiterated its plan to invest capital and equipment in Portage but David Mueller, vice president of finance, would not disclose details in a telephone interview from Spartech's head office in Clayton.
Chevron announces PS price increase
HOUSTON - Chevron Chemical Co. of Houston announced Feb. 26 it would increase prices for its polystyrene resins by 2 cents a pound, effective April 1.
Chevron's announcement is in contrast with announcements by other leading PS makers who previously said they would raise their prices by 4 cents a pound, effective March 15.
Buyers said they view the price announcements as actions to forestall further price declines, and as attempts to change market psychology from expectations of further declines to acceptance of stable prices under the threat of increases.
Cytec's La. unit resumes production
WAGGAMAN, LA. - The acrylonitrile unit of the Cytec Industries Inc. plant in Waggaman was up and in full production Feb. 28, after an explosion six days earlier.
Jim Dutcher, public affairs manager for Cytec, formerly American Cyanamid Corp., said no employees were injured and there will be no interruption of acrylonitrile production at the plant, located 15 miles west of New Orleans.
``An investigation is still going on as to the cause,'' Dutcher said. ``But it appears it may have been due to a short disruption in electrical supply that affected the whole region about 6 p.m. Feb. 22.''
According to published reports, eight people, believed to have been on a tugboat in the river near the facility, were treated for possible exposure to hazardous chemicals and released.
Dutcher said there was a small fire at the time of the explosion in an expansion joint, but that it was controlled within about 20 minutes, and there was no release of material outside of the facility.