Miner purchases injection molder DEK
GENEVA, ILL. — Geneva-based Miner Elastomer Products Corp. acquired DEK Inc. on March 23, company officials said. Terms were not disclosed.
DEK injection molds parts for the transportation and communications industries at a 50,000-square-foot plant in St. Charles, Ill., and produces a diverse line of industrial thermoplastic shock-absorption devices. The operation includes 25 presses, with clamping forces ranging from 28-700 tons, said Miner spokesman Patrick Lovro.
Greg L. Kuppler, president and general manager of Miner, said in a prepared statement the two firms complement each other.
``DEK provides strong capabilities in manufacturing and high-tech mold designs for complex parts selling to the electronic industry and other key markets. Miner Elastomer brings design-engineering resources to the table, especially in the area of elastomeric components for automotive applications.''
Some Miner operations will be relocated to the DEK facility, which employs 50, said Lovro. Miner employs 65 and has annual sales of more than $12 million, Lovro said by telephone.
Two firms announce PC price increase
AKRON, OHIO — GE Plastics of Pittsfield, Mass., and Bayer Corp. of Pittsburgh each have announced 6 cent-per-pound price increases for polycarbonate effective May 1.
The GE increase affects all grades of its Lexan-brand PC, while Bayer included nonextrusion grades of its Makrolon PC and all grades of its Apec high-heat PC.
Jerry MacCleary, Bayer PC business management vice president, said the increase is needed to alleviate rising costs and justify ongoing investments to increase capacity.
The automotive market ``has continued on its steady build'' in PC uses, Lexan General Manager Bill Driscoll said, while the compact disc market has shown good strength during a seasonally low period, due in part to major sales for the Titanic movie soundtrack.
The water-bottle market has had steady growth, while glazing and building markets have been ``steady but not outstanding,'' Driscoll added.
``Parts of the Pacific are growing in double digits and China and North America continue to be strong,'' Bill Driscoll said in an April 16 telephone interview.
Industry officials and analysts projected 1998 growth of 7-8 percent, a rate slightly lower than PC's 15-year, 9 percent average.
Bayer earlier had announced an 8 cent increase on extrusion grades of Makrolon effective March 1. GE had not moved on the pricing front since announcing an 8 cent hike Oct. 13.
Dow Chemical Co. of Midland, Mich., recently announced a 6 cent May 1 increase for injection molding and extrusion grades of its Calibre-brand PC.
Padiham acquires Waddington business
LEEDS, ENGLAND — Waddington has sold its protective plastic foam packaging business, Waddington Arcol Ltd., to the recently formed Padiham Group Ltd. for £6.6 million ($11 million).
Arcol of Glasgow, Scotland, had assets of £1.4 million ($2.35 million) at the end of March 1997 and achieved pretax profit of $1.2 million for that year, according to Leeds-based Waddington. Income from the sale will be used to reduce debt.
Padiham of Blackburn, England, was formed last year to buy two subsidiaries of Scapa Group, also in Blackburn. In February 1997, Padiham took over expanded polystyrene foam packaging maker Scapa Mouldings Ltd. of Rishton, England, and Perseverance Mills Ltd. of Barnsley, England, a lightweight nylon fabric producer. The units were disposed of as noncore businesses.
Padiham is backed by venture capital firm 3i and the Bank of Scotland.
Collins & Aikman Plastics relocating HQ
TROY, MICH. — Collins & Aikman Plastics Inc. is moving its headquarters to a new, 60,000-square-foot automotive center in Troy that will help it work closely with its parent's other units.
The move is scheduled to be complete by June 1999. The new automotive center also will house sales and engineering staffs for Collins & Aikman Corp.'s fabrics division, carpet and acoustics group, Akro floor mats and Dura Convertible Systems.
The plastics group will take about one-third of the new site, said C&A Plastics President D. Michael Weston. The firm plans to use the expertise of the other units to develop entire interior systems, Weston said. The company makes all automotive interior parts except for seats, he added.