Polymer Reclaim files for Chapter 11
BURLINGTON, N.C. — Vinyl siding recycler Polymer Reclaim & Exchange Inc. filed for protection under Chapter 11 of the U.S. Bankruptcy Code on March 11.
Company officials declined to comment. Bankruptcy court records in Greensboro, N.C., did not indicate how many creditors have filed claims against the firm.
The Burlington-based firm used a grant from the Washington-based American Plastics Council in 1992 and support from the Vinyl Institute in Morristown, N.J., to develop a network to collect vinyl siding and set up a grinding facility. The firm opened a second facility near Atlanta in 1995.
Rubbermaid closing Austrlian plant
WOOSTER, OHIO — Rubbermaid Inc. is closing a commercial playground manufacturing facility in Victoria, Australia, and moving some production to a plant in Farmington, Mo., according to company officials.
The Victoria unit fabricates mainly metal playground products with some plastic components for fast-food restaurants, according to Lorrie Paul Crum, spokeswoman for the Wooster-based company. She said in a March 16 telephone interview that Rubbermaid will serve its Western Hemisphere customers from the Missouri site. Eastern Hemisphere customers will be supplied from a yet-to-be finalized location in Asia, Crum said.
About 80 jobs will be eliminated when the plant closes within the next several months. The facility will be sold, Crum said.
Techpack buys into S. America Novolit
SAO PAULO, BRAZIL — Techpack International Group bought 60 percent of Novolit-Flexolit S/A, a Sao Paulo-based blow and injection molder that makes packaging for cosmetic, pharmaceutical, chemical and food products, as well as injection molded parts for the electronic and automotive industries.
TPI is based in Paris and has 25 plants worldwide — including 12 in France and four in the United States — dedicated to making packaging for perfumes, makeup, toiletries and pharmaceutical items.
It registers almost $400 million in sales annually.
The purchase agreement was signed March 9, creating a joint venture called TPI Novolit SA. Terms were not disclosed.
TPI Novolit processes about 660,000 pounds of resin per month, or about 40 million parts per year. About 70 percent is blow molded, and the rest injection molded. Roughly 80 percent of TPI's activities involve injection molding.
Officials said TPI Novolit will not abandon its clients outside of cosmetics packaging. Novolit-Flexolit's 1997 sales were $9 million.
United Shields to acquire Mass. molder
CINCINNATI — United Shields Corp. said March 17 it has entered into a letter of intent to buy an injection molding company in Massachusetts. The unnamed acquisition operates a 60,000-square-foot facility and reported 1997 sales of about $5 million, according to United officals.
In a press release, United Chief Executive Officer T.J. Tully said the addition of the company's mold and toolbuilding expertise is part of Cincinnati-based United's plan to become a fully integrated injection molding company. He said the acquisition supplies the automotive, medical, computer, recording and telecommunications industries.
Tully said by telephone he is not able to release the name or location of the Massachusetts firm or other details at this time.
In January, United bought R.P. Industries Inc., a Chester, Va., injection molder, for $9.3 million in cash and common stock.
TechWorks setting up training facility
DENVER — TechWorks Service Group Inc. plans to open a plastics training center April 16 in Denver.
The center initially will focus on operator and technician training, but could expand, said Sheri Peterson, the center's manager.
TechWorks is leasing a building that will house four training rooms and an injection molding facility with six presses. Companies that have donated equipment include press supplier HPM Corp., Maguire Products Inc., Xaloy Inc. and Budzar Industries Inc. Peterson said the center might add an extrusion line.
Peterson said the training center will be TechWorks' first. Equipment representative Turner Group of Seattle established TechWorks in 1996 to provide training, preventive maintenance, retrofits and other services.