U.S. molder among buyers of Ohmeda
LIBERTY CORNER, N.J.—An international consortium, including U.S. medical plastic device molder Becton Dickinson & Co., is buying Ohmeda, the international health-care business of BOC Group, for more than $1 billion.
Under the deal, Becton Dickinson of Franklin Lakes, N.J., will acquire Ohmeda's Medical Device Division, including plastic molding plants in Europe and Asia, for about $452 million.
The consortium also includes Finnish anesthesia and critical-care equipment manufacturer Instrumentarium Corp. of Helsinki, Finland, which is buying Ohmeda's medical systems and specialty products division for $494 million. In addition, Baxter International Inc. of Deerfield, Ill., is buying the pharmaceutical products division for about $104 million.
Ohmeda, based at Liberty Corner, employs about 5,000 in 30 countries. It reported pre-tax profit of $73 million on sales approaching $800 million in 1997, according to BOC of Windlesham, England.
The Medical Device Division makes equipment including plastic catheters, and invasive monitoring and vascular access devices. Its manufacturing and development facilities are in Sweden, Germany, Singapore and the United Kingdom. Sales last year stood at around $200 million.
The division's plastics molding plants are in Helsingborg, Sweden; Swindon, England; and Singapore, according to a BOC spokesman.
BOC announced in July that it was seeking a buyer or buyers for Ohmeda, citing strategy to concentrate on its core industrial gas business.
For Becton Dickinson, the fit with its infusion therapy business is good, according to Robert Adrion, president of Becton's Worldwide Infusion Therapy business.
``The Ohmeda and Becton Dickinson businesses are highly complementary in product lines and geographical presence,'' he said.
The sales are due to be completed April 4, and are subject to government approval.
AEP sells packaging plants in South Africa
SOUTH HACKENSACK, N.J. — AEP Industries Inc. on Jan. 21 completed the sale of its South African operations to the management of the two plants.
The facilities generated $15 million in annual sales and were not profitable in 1997, the company said. AEP acquired the plants with the purchase of Borden Global Packaging in October 1996.
Brendan Barba, AEP chairman and chief executive officer, said the sale is part of the company's strategy to divest noncore operations and focus on domestic business.
Company officials would not disclose where the plants are or how many people they employ. The plants produce PVC food film, polyethylene stretch film for pallet wrapping and expanded polystyrene food trays.
AEP manufactures, markets and distributes plastic packaging products for the food and beverage, industrial and agricultural markets. It has operations in 11 countries, with 11 film plants in North America. The South Hackensack-based company reported North American film sales of $260 million and total sales of $270.5 million for the fiscal year ended Oct. 31, 1996.
Epsilon quickens film delivery with new line
SOUTH PLAINFIELD, N.J. — Epsilon Polyolefin Corp. has installed a new converting line at its South Plainfield facility to speed up shrink film delivery time.
The line slits master rolls into smaller rolls demanded by customers. The firm said the equipment allows Epsilon to deliver single-wound film in two to three weeks. Edward Weiss, executive vice president, said the project is one of the first of a multiphase expansion of polyolefin shrink film production at South Plainfield.
Weiss said Epsilon plans to install more folding equipment but he did not disclose the cost of that program or the new slitting line. Last fall Epsilon said it planned a seven-phase, $50 million investment to become a major player in the U.S. shrink film industry.
Epsilon's multilayer shrink films include Opti 95, a high-clarity product, and Opti 92, a higher-strength packaging film for high-speed automatic and multipack applications. It uses polyethylene, polypropylene and other resins in its constructions.
Westech Fence moves production to Indiana
DALLAS — Westech Fence has moved production to Evansville, Ind., the company announced at the International Home Builder's Show in Dallas.
Westech, a division of North American Pipe Co. of Houston, had been making fence profiles at its Booneville, Miss., plant.
The Booneville plant now will concentrate on pipe production, while the Evansville facility, which had made pipe, now will concentrate on fencing, siding, windows and the company's new Presidio line of decking.
The transition, which nearly doubled the Evansville facility's size, was completed Jan. 2, according to a company news release.