Uniroyal deal likely to cut interest costs
SARASOTA, FLA. — Uniroyal Technology Corp. expects to cut annual interest costs by about $2 million through a financing arrangement with New York's Fleet National Bank involving $90 million in term notes and a $20 million revolving credit agreement.
In turn, Uniroyal will redeem about $72.3 million in outstanding bonds and repay borrowings under an existing $25 million revolving credit agreement. A premium on the redeemed notes and a write-off of unamortized costs will appear as an extraordinary charge for the third quarter, ending June 28.
Sarasota-based Uniroyal employs 1,100 and makes high-performance plastics, coated fabrics and specialty adhesives at 11 manufacturing facilities.
Wash. firm upgrading molding operations
BELLINGHAM, WASH. — Custom injection molder Pacific Injection Molding Corp. of Bellingham is adding the capabilities of a Mokon Iceman, 5-ton water-cooled chiller; and an additional Mokon Duratherm, circulating-water temperature-control system for heating molds. Owner Bob Dyer expects to begin operating the units in May.
Pacific Injection Molding was formed in 1994, employs three and occupies 1,800 square feet. The company molds parts for recreational sporting goods, electronics, computer accessories and hardware applications on two Cincinnati Milacron presses with clamping forces of 33 and 85 tons.
Haartz ups capacity with processing line
ACTON, MASS. — Automotive supplier Haartz Corp. of Acton has purchased a new sheet coextrusion line.
The Battenfeld Gloucester line represents a significant capacity expansion for Haartz, according to a news release from supplier Battenfeld Gloucester Engineering Co. Inc., based in Gloucester, Mass.
The equipment includes two 6-inch, 30-1 ratio Contracool extruders feeding an 86-inch, three-roll sheet stack. The Gloucester-based manufacturer of extrusion and converting machinery said the line will begin operating later this year.
Haartz manufactures coated fabrics, sheet and film used in instrument panels, door panels, convertible tops, tonneaus and seat covers.
The firm would not comment on its new equipment.
