UPT gets new digs in Tempe, Ariz.
TEMPE, ARIZ. — UPT Plastics Inc. of Tempe is building a new facility in Tempe.
The injection molder is planning to move into the 50,000-square-foot plant in January. The facility will cost $2.5 million.
``Our goal is to bring new customers in and show we have the capability,'' said President Mike Friend.
The company has 68 employees and 12 molding machines, but UPT plans to bring in more employees and machines. According to Friend, UPT is already on its way to passing the $7 million annual sales mark for the year. UPT makes parts for electronic, recreation and packaging markets.
Spartech targets Japan with alliance
CLAYTON, MO.—Spartech Corp. and Takiron Co. Ltd. of Osaka, Japan, have formed a three-year sales and marketing alliance.
Bradley B. Buechler, Spartech president and chief executive officer, noted the Asia-Pacific region has 60 percent of the world's population ``but currently consumes only 25 percent of the global thermoplastic output. This alliance should be instrumental in our penetration into this expanding market.''
The agreement calls for the companies to ``coordinate efforts to promote certain of each other's products in their respective regions of the world,'' Buechler said in an Aug. 5 news release.
Takiron has annual sales of about $550 million, and makes engineered plastic materials for industrial, agricultural, electronic and medical markets. Spartech makes sheet, thermoplastic compounds and molded products at 22 North American facilities.
Spartech of Clayton anticipates adding four domestic locations with its pending acquisition of Echlin Inc.'s Preferred Plastic Sheet Division of Greenville, Ohio. The previously reported deal is expected to close by Aug. 31.
TPI to buy assets of N.Y. Hasbro plant
AMSTERDAM, N.Y. — TPI Plastics Inc. of Toronto is negotiating to purchase assets and injection molding machinery from Hasbro Inc.'s Amsterdam facility.
Although Pawtucket, R.I.-based Hasbro had announced that the plant was going to close last November, the facility has been running on minimal output, said TPI owner Donald Henderson. He declined to disclose information about TPI.
Closure of the plant would lead to the loss of about 400 jobs and the idling of some 20 injection presses. The city of about 20,000 is trying to salvage those jobs, Henderson said.
TPI hopes to close on the sale by Aug. 29, and be operating the plant by Sept. 15. TPI would lease the building from the city and receive a package of loans and grants to help finance the project. Details of the contract were not disclosed.
Chemtech expands molding facility
ELGIN, ILL. — Chemtech Plastics Inc. of Elgin is expanding its insert molding and injection molding plant by acquiring new space for distribution and storage.
Chemtech acquired an adjacent 10,000-square-foot building, freeing space in the 25,000-square-foot main facility for more molding equipment. The firm spent about $500,000 in the past year to buy four new presses, said sales manager Frank La Valle.
The company, with annual sales of about $10 million, makes parts for the auto, computer and communication markets.
Dow, Sentinel plan foam joint venture
MIDLAND, MICH. — Dow Chemical Co. of Midland and Sentinel Products Corp. plan to form a 50-50 global joint venture that would include a portfolio of extruded polyolefin foams and engineered metallocene foams.
The venture would include design, development, manufacturing, marketing and sales of extruded polyolefin and engineered metallocene foams. It should be completed in early 1998.
Both companies will transfer related manufacturing facilities to the venture. Dow's plants are in Hanging Rock, Ohio, and Drusenheim, France. Sentinel's are in Richfield Springs, N.Y., and St. Johnsville, N.Y. Sentinel is based in Hyannis, Mass.
EPA delays ruling on Shintech plant
DALLAS — The Environmental Protection Agency again has delayed its decision on a request to withdraw air permits issued to Houston-based PVC maker Shintech Inc. for a proposed Louisiana plant. An Aug. 4 date was moved to Sept. 2, according to a spokeswoman in EPA's Dallas office.