Sonoco acquires German molder Burk
HARTSVILLE S.C. — Sonoco Products Co. is adding Burk, a German injection and extrusion plastics molding company, to its Sonoco Crellin unit.
Burk makes tubes, cores, reels, core plugs, endwalls and plates from polystyrene and polypropylene at three locations in Germany: Overath, Vilkerath and Delmenhorst. The firm serves the film, specialty paper, foil, wire and textile markets.
Burk, with 1997 sales of about $19 million, employs 130. Sonoco plans to keep the plants and personnel, the Hartsville firm said.
Crellin operates 11 plants in the United States and has facilities in Rotterdam, the Netherlands, and Troisdorf, Germany. The Sonoco subsidiary makes engineered injection molded and extruded plastic products for the textile, wire, cable, fiber-optic, filtration, performance film and food-service industries.
Terms of the deal were not released.
Sonoco Products makes industrial and consumer packaging products and reported 1997 sales of $2.8 billion.
Mobil announces March PE price hike
AKRON, OHIO — In a show of confidence in polyethylene demand, Mobil Chemical Co. of Edison, N.J., has announced a 2 cent price increase on all grades of PE effective March 1.
Industry analysts have said recent declines in Asian exports were weakening the domestic PE market, but a Mobil spokesman said PE makers have been in this situation before.
PE producers still are attempting to pass on 3 cent price increases announced for Feb. 1. Those increases originally were announced for Dec. 1, but have been delayed twice.
Industry sources said Dow Chemical Co. of Midland, Mich., had made a similar PE pricing move, but Dow officials could not be reached at press time.
Officials at top PE producers Union Carbide Corp. of Danbury, Conn., and Exxon Corp. of Houston said their companies had no additional increases planned.
Dynamic Molding buys Colo. mold maker
LOVELAND, COLO. — Dynamic Molding Inc., a custom injection molder in Loveland, bought the assets of mold maker Loveland Tool & Die Inc. in a move to add in-house tooling capabilities.
The mold-making shop will transfer equipment and at least one staff member to Dynamic's plant. The asset sale, for $175,000, includes three computer numerically controlled milling machines, an electric discharge machine, surface grinders and a lathe, said Dynamic General Manager Richard Haack.
Before the sale, Dynamic sourced out its tooling business, Haack said. The firm, which makes small, internal electronic parts, decided to do its own mold making to better control production schedules and allow rapid parts production, he said.
Dynamic, which has 15 employees, recorded about $2 million in 1997 sales, Haack said.
PEI prices rise, action on PPS uncertain
AKRON, OHIO — Prices for polyetherimide took a sizable jump in January, while makers of polyphenylene sulfide were split on price increase efforts for that material.
GE Plastics of Pittsfield, Mass., the lone North American PEI maker, boosted prices 20 cents a pound on all Ultem grades, said product manager Mike Huff. The increase was the result of rising raw materials costs and reinvestment economics, he said.
In PPS, GE's Supec product took a 10 cent climb in January, Huff said. However, Phillips Petroleum Co., which leads North American PPS production, did not attempt a price increase. The the company does not have one planned, officials said.
The PEI increase is shown on this week's Plastics News resin pricing chart. The PPS 35 percent glass, 30 percent filler price was adjusted to reflect changes spanning the past nine months.
University adds geofoam research center
SYRACUSE, N.Y. — Syracuse University's L.C. Smith College of Engineering and Computer Science has established what it touts as the first U.S. research center for expanded polystyrene geotechnical products.
The Syracuse University Geofoam Research Center will work with member firms, public and private agencies, and others to attract and perform leading-edge geofoam research.
The center started through contributions and support from Insulation Corp. of America of Allentown, Pa.; Georgia Foam Inc. of Gainesville, Ga., and Mid-Atlantic Foam Inc. of Fredericksburg, Va. Membership is open to all EPS block molders.