Norton buy boosts plastics business
WAYNE, N.J.—Wayne-based Norton Performance Plastics Corp. has acquired ASTI SA, based near Paris.
ASTI will retain its name, its 500 employees and a facility in Macon, France, that makes fluoropolymer pumps, valves, fittings and fluid circuitry components for microelectronics, specialty chemicals and pharmaceutical applications, said a Norton spokesman. The ISO 9001-certified plant in Macon includes a class 1,000 clean room.
Financial terms of the Aug. 29 deal were not disclosed.
Norton, a subsidiary of Compagnie de Saint-Gobain, extrudes plastic tubing and profiles for a range of industries, with related North American sales of about $90 million, according to Plastics News data. Paris-based Saint-Gobain had 1996 sales of $17.9 billion. ASTI did not provide sales data.
Restructured Rexam sets sights on growth
LONDON — Rexam plc is ready to expand after a yearlong restructuring program in which it sold 17 of 20 underperforming businesses for £99 million ($159.4 million).
The London-based firm is looking for acquisitions or alliances to bolster growth across its seven core divisions, according to Chief Executive Officer Rolf Borjesson. In its 1996 annual report, Rexam identified health-care and beauty packaging among key units earmarked for growth. It also is targeting Asia and North America.
``We believe that Rexam's continuing operations provide a sound base for growth, as well as a platform for acquisitions, joint ventures and alliances which complement our current market positions,'' said Chairman Jeremy Lancaster. ``We anticipate a significant shift in emphasis towards growth in those sectors targeted for expansion.''
Gallagher expanding PU parts operation
GURNEE, ILL. — Gallagher Corp. will spend about $1 million to add 17,000 square feet to its polyurethane molding plant in Gurnee.
Slated for completion in February, the project will add a fifth building to the four-structure Gurnee complex and bring the factory's total space to 90,000 square feet. The addition will house the firm's heavy-duty molding operations, which casts parts for the construction and railroad industries.
The expansion hikes capacity at least 20 percent, said Richard J. Gallagher, company founder and chairman. Gallagher is not sure how the addition will impact sales, but he said the firm averages annual sales growth of about 20 percent. He declined to disclose figures.
To support the added volume, the firm expects to boost its work force to 90 from 75.
The addition also will harbor overhead cranes, freeing up space in other production buildings for additional processing equipment. In the next two years, the company will spend ``a few million dollars'' on new processing equipment, Gallagher said.
The firm embarked on the plan ``just to keep up with demands and improve our flexibility,'' he said.
The custom molder makes gaskets, seals, bearings, bumpers, mounts, wipers and other PU parts for the aerospace, marine and roller industries.
Hillsman Modular adds plant space
TITUSVILLE, FLA. — Hillsman Modular Molding Inc. of Titusville expanded its facility from 11,000 square feet to 41,000 square feet last month.
The injection molder, which makes small, close-tolerance parts on 13 molding machines, needed more space because its business is growing, said spokeswoman Sherry Spear.
HMMI specializes in modular molding systems, a process that offers reduced tooling costs and lead times, Spear said.
The expansion cost just under $1 million. The molder has annual sales of more than $4.5 million, she said.
Crila Plastic opens technical center
MISSISSAUGA, ONTARIO — Profiles extruder Crila Plastic Industries Ltd. of Mississauga has a new 4,000-square-foot technical development center.
The facility — equipped with one extrusion line and another on order — is designed to introduce new processes, materials and technologies to customers. Its cost was not revealed.
Crila extrudes profiles for the automotive, appliance, furniture and other custom markets.
CKS Packaging Inc. purchases Amex
ATLANTA — CKS Packaging Inc. acquired Amex Packaging Ltd., a Mooresville, N.C., blow molder, for undisclosed terms.
Both firms blow mold bottles out of glycol-modified PET, PVC, high density polyethylene and other resins. Amex had 1995 blow molding sales of $4.9 million.
CKS plans to keep Amex operations intact, running them as a CKS division, said a CKS spokesman. The deal closed in May.
Continuing an acquisition streak, Atlanta-based CKS also recently bought the assets of blow molder Mar-Kay Plastics Inc. of Kansas City, Mo., which had sales of about $20 million, according to Plastics News estimates. CKS had annual sales of $95 million in 1996.