Owens Corning to sell glass-fiber yarns unit
TOLEDO, OHIO — In another effort to pay down debt, Owens Corning seeks to sell a $300 million glass- fiber yarns and specialty materials portion of its $1.16 billion composites segment.
Believing the customer base differs from its other composites business, Owens Corning plans to sell most of its production capabilities at Aiken, S.C., and Huntingdon, Pa., plants—which employ about 1,500 for making glass-fiber yarns and specialty materials.
The firm plans to retain and invest in Aiken's glass-fiber wet mat manufacturing lines and Huntingdon's continuous filament mat lines. Those lines employ about 150.
The Toledo-based firm reported profit of $47 million on 1997 sales of $4.37 billion. It retained New York investment banker SBC Warburg Dillon Read Inc. for its recent debt pay-down effort.
Machine maker Sidel opens Moscow office
MOSCOW — Groupe Sidel opened an office in Moscow June 10, to be closer to its clients in the Commonwealth of Independent States.
The Moscow office has a staff of 10, including three technicians for machine start-up and troubleshooting. The employees will handle sales and marketing of blow molding equipment throughout Russia and the CIS countries.
By fall, that facility will offer a spare-parts inventory for emergency repairs and warranty parts. Sidel said it has been supplying equipment to customers in Russia for 20 years, and about 40 machines are operating in Russia.
Plastic bottles manufactured in the Commonwealth of Independent States are used to package carbonated beverages, water, oil, vodka and shampoo. Sidel also has delivered about 15 complete turnkey packaging lines from liquid processing to palletizing packs of bottles.
Le Havre, France-based Sidel claims its equipment makes more than half of all PET bottles around the globe. Its other commercial or manufacturing locations are in the United States, Mexico, Brazil, Argentina, France, Spain, Italy, Germany, Singapore, India, China and Hong Kong.
PPS demand drives Ticona expansions
WILMINGTON, N.C. — Ticona plans another expansion of its polyphenylene sulfide facility in Wilmington to keep up with demand.
Ticona recently boosted Fortron PPS capacity at the Wilmington facility by 2 million pounds per year to 11 million pounds, and improved product quality.
The company announced it now plans to boost capacity to about 14 million pounds annually by the end of 1999.
Ticona said demand for Fortron grew by 25 percent last year, sparked by applications in automotive, industrial and chemical processing markets.
Fortron Industries, a joint venture between Hoechst AG and Kureha Chemical Industry Co. Ltd., makes Fortron resin.
Ticona, a Hoechst subsidiary, manages Hoechst's interest in the venture.
Mold-Masters center to aid mold research
GEORGETOWN, ONTARIO — Mold-Masters Ltd. completed construction of a new technology center near its headquarters in Georgetown.
The firm said the center will help its hot-runner research and aid in development of advanced molds and prototypes. Executive Vice President Jonathon Fischer said in a news release the center will allow Mold-Masters to form more-effective customer partnerships.
The 40,000-square-foot center is run by Mold-Masters' Prodevco research and development unit, which formerly was housed in Mold-Masters' main plant in Georgetown. Fischer said freed-up space in the main plant will allow Mold-Masters to expand production capacity.