Blaze destroys Talco grinding operation
VINTON, TEXAS—A tenacious fire destroyed the Vinton polymer grinding facility of recycler Talco Plastics Inc. Smoke from the blaze, which was reported to authorities at 2 p.m. June 28 and not declared out till midnight June 30, caused voluntary evacuation of about 40 homes and temporarily closed Interstate 10.
Most evacuees returned to their homes late June 29. No one was injured and no cause has been identified.
President John Shedd said Talco's main plant at Whittier, Calif., will handle the Texas business on an interim basis.
``It is too early to decide whether to rebuild,'' he said.
The operation used several small machines to grind polystyrene, polyethylene, polypropylene and some engineering plastics, producing ``less than 10 percent of Talco's feedstock,'' Shedd said in a telephone interview.
About 75 firefighters responded initially from volunteer and city fire units in Anthony, Canutillo, El Paso and the La Tuna federal penitentiary.
Royal buys stake in equipment firm
WOODBRIDGE, ONTARIO — Vinyl extrusion major Royal Group Technologies Ltd. strengthened its equipment base by acquiring a majority interest in Amut SpA of Novara, Italy.
Woodbridge-based Royal said July 2 it paid cash for the majority stake but it did not disclose terms of the deal. Royal and its subsidiaries and joint ventures are major customers of Amut, which exports nearly 90 percent of its production.
Amut complements Royal's in-house equipment and tool and die capabilities. Vic DeZen, Royal's chairman, chief executive officer and president, said the acquisition will help ensure that his firm's extrusion equipment and technological needs are met while Royal expands. Amut is ISO 9001 certified.
Ashland to buy Melamine Chemicals
ASHLAND, KY. — Ashland Inc. may have signaled the beginning of a buying spree June 30 when it announced a bid for the outstanding shares of Melamine Chemicals Inc. of Donaldsonville, La.
Ashland, headquartered in Ashland, already owns 23.1 percent of Melamine's 5.46 million outstanding shares, and is offering $12.50 per share for the rest, the companies announced in news releases. Ashland requested a response to its offer by July 17.
News of the $52 million cash offer bumped Melamine's stock prices on the Nasdaq exchange to a July 2 closing price of $14.25. The stock had been hovering near $12 in the weeks before the announcement.
Ashland's stock also climbed slightly after the news. Shares trading on the New York Stock Exchange sold at $48.31 at the July 2 closing, up from $46.56 at the end of the previous week.
Bunzl to acquire American Filtrona
RICHMOND, VA. — Bunzl plc has signed a letter of intent to buy all of American Filtrona Corp. for $178 million. Richmond-based Filtrona's operations includes substantial plastic profile, tubing and sheet businesses.
London-based Bunzl had terminated an agreement last month to buy just Filtrona's bonded fibers business.
Filtrona, a publicly traded firm, was founded by a branch of the Bunzl family that moved to America in the 1930s. Bunzl makes filter and fiber products. Filtrona ranked 31st in Plastics News' recent survey of North American pipe, profile and tubing extruders, with $69 million in relevant sales.
Unsaturated polyester prices may rise
AKRON, OHIO — A 2 cent-per-pound price increase for unsaturated polyester may be in the works.
Alpha/Owens-Corning LLC of Collierville, Tenn., on June 30 was the first of the six major U.S. unsaturated polyester makers to announce the increase, on all its unsaturated polyester products, effective Aug. 15, said business manager Reagan Stephens.
One other supplier — Reichhold Chemicals of Research Triangle Park, N.C. — announced its own increase July 2. That 2 cent price increase is to take effect Aug. 1.