SYOSSET, N.Y. - Merrywood Inc. is selling its 50 percent ownership interest in Plastic Containers Inc. to Continental Can Co., the other controlling company. According to a Reuter report, the sale is worth $44 million.PCI, based in Syosset, owns Continental Plastic Containers Inc. and Continental Caribbean Containers Inc., which make plastic bottles for the automotive and household industries and plastic films and equipment for the packaging industry. ``We are presently reviewing a number of financing proposals. We're very pleased that once the financing is in place we will be 100 percent owners of Continental Plastic Containers, which has excellent prospects for the future,'' said Don ald Bainton, chairman and chief financial officer of Continental Can.
The transaction is expected to close in December.
BEAUMONT, CALIF. - Privately held Dura Plastic Products Inc., a Beaumont-based injection molder of PVC pipe fitti ngs, is planning a $5 million expansion.
The company will build a 145,000-square-foot plant on 3 acres near its current facility. It eventually will have about 60 employees, and production will begin this time next year. Dura needed to expand because of increased business. However, there was not a lot of property for sale in town, said President Hardy Rost. The firm was not sure where it would grow until the adjacent property came up for sale, Rost said.
Dura also will have the opportunity to tie into a railroad spur that will serve several Beaumont businesses and will enable the company to receive its resin by railroad car instead of by truck.
Dura's current 200,000-square-foot plant em ploys 175. Rost would not reveal the number of presses the firm operates. Dura molds fittings for agriculture, plumbing and pools and spas.
DEERFIELD, ILL. - Deerfield-based plastic pallet molder Nucon Corp. filed a lawsuit Aug. 23 in U.S. District Court in Chicago, charging patent infringement against Menasha Corp.
Nucon charges that Menasha is making pallets that infringe on two U.S. patents issued to Nucon. The patents are No. 4,843,976 and No. 5,197,395.
Brandon Piggott, Nucon's sales and marketing vice president, said the alleged violations deal with pallet construction and design. Nucon is asking for an injunction barring Menasha from making the pallets, monetary damages and lawyers' fees. No hearing date has been set.
Nucon last year built a structural foam molding factory in Pleasant Prairie, Wis., to make its pallets. Menasha is based in Neenah, Wis.Contacted Aug. 28, Jim Sarosiek, Menasha's vice president and general counsel, said Nucon's lawsuit was the first notice Menasha received of any potential problems. Menasha officials had just received the complaint and had no comment, he said.
Menasha has 20 days to respond to the suit.
CAMBRIDGE, MD. - With expanding sales and business, Cambridge-based injection molder Hi-Tech Plastics is ramping up operations at its newly opened second plant, also located in Cambridge.
The 35,000-square-foot leased building houses six 1,000-ton presses, which mold ABS and polypropylene for the power tool industry. Hi-Tech invested about $5 million in equipment and support services. The plant, which opened in May, employs 15.
Hi-Tech's original Cambridge plant has 50 employees and 13 injection presses. The 12,000-square-foot plant serves the automotive, electical, computer, container, appliance and office products industries. The firm reported sales of $4.3 million last year.
ATLANTA - Printpack Inc. announced Aug. 28 that it will close its San Leandro, Calif., and Dayton, Ohio, converting plants by the end of this year.
Atlanta-based Printpack acquired those facilities with the purchase of the Flexible Packaging division of James River. [Details of the deal with Richmond, Va.-based James River are on Page 9.]
Printpack cited overcapacity nationwide relative to demand and high fixed costs as reasons for the consolidation.