Divestment to fund Black Clawson plan
FULTON, N.Y. — Black Clawson Converting Machinery Corp., which supplies cast film and extrusion coating machinery, is selling its paper-stock preparation business in Middletown, Ohio, for about $110 million.
The Feb. 27 announcement follows news the company will move its blown film equipment unit, Black Clawson Sano Inc., from Amelia, Ohio, to the headquarters plant of Black Clawson Converting Machinery in Fulton.
Both firms are owned by Black Clawson Co. of New York. A company spokeswoman said that, after the sale, at least $25 million will be invested in the Fulton operation for a laboratory/pilot center, manufacturing improvements and international sales and marketing efforts.
Black Clawson Converting Machinery said it was selling its stock-preparation business to Thermo Fibertek Inc. of Waltham, Mass. The business generated more than $100 million in sales for the fiscal year ended March 31, 1996. The Middletown plant manufactures equipment for the pulp and paper industry.
Separately, Black Clawson Converting said a deckle support system is now available on its cast film dies. The device prevents bending of the slender deckle rod in an internal deckled die.
The company also announced Autobolt, a new automatic profile control system. Both products, designed for use on the firm's R.O.I. Internal Deckled Die, will be shown at the CMM International '97 show for converting, April 14-17 in Chicago.
Flite workers given stake in company
COCOA, FLA. — Ronald Anderson, founder of screw manufacturer Flite Technology Inc., has turned ownership of the operation over to his employees.
Anderson said the ownership change was effective Jan. 1. He founded the Cocoa company in 1981.
Under the agreement, Anderson will retain a small percent of ownership in the manufacturing company, which has been renamed Feed Screw Engineering and Design.
The new owners are 15 shop-floor employees, many of whom have worked at the firm since Anderson founded it in 1981.
Anderson said the move will allow him more time to concentrate on marketing and working on screw projects with customers at their plants. The employees will run day-to-day operations.
Anderson remains owner of Flite Technology, which has that new marketing focus.
``I didn't want any more employees, I wanted partners,'' he said.
Together, the firms employ about 32.
Since the change, production has increased 20 percent, costs are down and turnaround times have been cut, according to Anderson.
Austria's Fasti plans U.S. manufacturing
HOPFGARTEN, AUSTRIA — Fasti, Farrag & Stipsits GmbH, an Austrian maker of dryers and chillers, plans to manufacture its equipment in the United States through a joint venture.
Bernhard Stipsits, Fasti managing director, said he has been selling equipment in the United States for several years, using a manufacturers' representative.
``But time and again we have heard from customers, that this is not what they would like. They don't want to have to call Austria,'' Stipsits said.
Stipsits said Fasti is working on an agreement with Applied Process Equipment Corp. of Elgin, Ill. Applied Process Equipment, which makes water recovery systems, chillers and cooling equipment, will handle U.S. sales and service for Fasti.
In the future, Stipsits said, Applied Process Equipment will handle manufacturing.
Fasti employs about 20 people in Germany. It has three product lines: a dehumidification system for PET preforms, equipment that uses compressed cool air for blow molding and chilling blown film, and compressed-air resin dryers.
Eurotherm acquires LFE Industrial Systems
CLINTON, MASS. — Process control supplier Eurotherm International Inc. has acquired Clinton-based LFE Industrial Systems Inc.
Both companies make controls and gauging systems for film and sheet extrusion. Eurotherm paid $12.5 million for LFE, according to Gordon T. Duncan Jr., LFE's vice president of sales and marketing.
Eurotherm sells integrated process control systems in 35 countries. Its products include drive system controls, temperature controls, process controls and sheet thickness controls.
LFE said it has a strong market presence in the United States and Canada. LFE officials believe Eurotherm's strength in Europe and Asia will be attractive to LFE's multinational customers.