DSM sells stake in German molding firm
WEIDEN, GERMANY — DSM Resins BV has sold its 40 percent stake in Mitras Industries Holding GmbH, a Weiden molder of fiberglass-reinforced thermoset parts.
DSM Resins, based in Zwolle, the Netherlands, formed the joint venture in 1995 with Mitras Kunststoffe GmbH, also of Weiden. DSM made the sale Sept. 19 to the venture's other shareholders, including two banks. Terms were not disclosed. DSM officials said the disposal reflects the firm's efforts to focus on its core resins and compounding business.
DSM Resins had contributed parts-molding subsidiaries in England, Germany and Spain to the joint venture: Autopress Ltd., BWR GmbH and Fiberpachs SA, respectively. Mitras Kunststoffe had provided its Weiden plant.
Today, MIH produces a range of molded automotive parts and electronic equipment housings. It has production facilities and offices across Europe in Germany, Sweden, Finland, France, Spain and the United Kingdom. The firm reported sales of DM300 million ($525 million).
DSM Resins will remain one of MIH's major suppliers of compounds and will help develop new applications for glass-fiber-reinforced plastic products.
Malaysian molder adds 20 machines
KUALA LUMPUR, MALAYSIA — Kuala Lumpur-based plastics processor and trader Mah Sing Group Bhd. recently acquired 20 secondhand injection molding machines and auxiliary equipment from its wholly owned subsidiary, Mah Sing Plastic Industries (PG) Sdn. Bhd., for $2.31 million.
The country's ailing currency, the ringgit, has forced Malaysia's plastics processors to cut costly capital imports and boost market share with relatively cheaper products.
Mah Sing Group said the equipment will allow it to expand quickly into Mah Sing Plastic's new premises at an industrial park in Bandar Pinggiran Subang. The new plant is scheduled to open in November.
Mah Sing expects its consumer plastics products and property divisions to continue contributing to more than half of pretax earnings. Mah Sing posted a pre-tax profit of $3.14 million for the six months ended June 30, a 17.1 percent jump over the previous period.
Fire damages plant of Chinese molder
SINGAPORE — A small fire broke out Aug. 31 at one of Showpla Asia Ltd.'s injection molding factories in Shanghai, China, which produces housings for air conditioners and television sets.
No one was hurt, but the fire destroyed secondary processing equipment, such as silk-screening machines and spraying booths, according to a company source in Singapore.
Production since has resumed, after the Japanese company scrambled to mobilize replacement machines from Singapore and its northern China plant in Shandong province.
The source estimated damages at much less than $1 million. The plant's primary production line consists of 28 Mitsubishi injection molding machines, with clamping forces of 25-1,300 tons.
The fire was set off by sparks from a newly installed robot arm. The sparks landed in an open drum of oil, the source said.
Showpla's Shanghai plant began operating in 1996, and generated sales of $10 million its first year.
Bag company wins loan for recycling
INDIANAPOLIS—Max Katz Bag Co. of Indianapolis received a $500,000, zero-interest loan from the Indiana Commerce Department to expand its recycling program.
The company would not comment. A Commerce Department spokesman said the firm will invest more than $2.4 million to increase its recycling capacity to more than 4 million pounds of scrap each year.
The spokesman said the company will purchase equipment to recycle internal plastic scrap into construction materials, and modernize existing machines.
Plas-Tanks targets W. Coast, overseas
HAMILTON, OHIO — Plas-Tanks Industries Inc. of Hamilton has opened two West Coast sales offices, and is looking for new growth areas.
The maker of reinforced thermoset products reported 1996 sales of about $3.5 million. President J. Kent Covey said the company opened sales offices in Ontario, Calif., and Bellingham, Wash., earlier this year.
Covey estimates that exports to Canada are about three times what they were last year. Plas-Tanks also is looking at overseas expansion, but Covey would not disclose details.
N. American launches anti-bacterial bag
AURORA, ILL.—Aurora-based North American Plastics Corp. is making a polyethylene trash bag with an anti-bacterial additive.
``Our anti-bacterial line will not only capitalize on the explosion of anti-bacterial consumer products, but provide an important function ... reducing odor caused by germs,'' said Gary Kerlagon, president and chief executive officer.
Rather than being coated, the bag is made of additive-containing pellets.
The firm reports annual sales of $90 million and has 26 extrusion lines.
Interfilm distributing ICI, Inteplast films
PIEDMONT, S.C. — Interfilm Holdings Inc. of Piedmont has made a distribution agreement with ICI Polyester of Wilmington, Del., and Inteplast Group of Livingston, N.J.
Interfilm will distribute ICI's Melinex oriented polyester films for sale into the U.S. flexible packaging market for coating, laminating and printing. Interfilm also will be the U.S. distributor of polypropylene films made by Inteplast's AmTopp business unit.
Robert K. Semel, president and chief operating officer of Uniflex Inc. of Hicksville, N.Y., exercised options to purchase 90,000 shares of Uniflex common stock. Uniflex makes specialty bags.