WHARTON, N.J. — PVC packaging manufacturer and contract filler Unette Corp. has become 100 percent employee-owned, after its two top executives retired and sold their shares.
Former Chairman and Chief Executive Officer Robert Smith and President George Wohlgemuth sold their share of the business, roughly 30 percent, on July 7, said Jeff Hayet, vice president of sales for the Wharton-based firm.
Both executives will remain as consultants. The new president and CEO is Joseph Hark, formerly vice president of finance and human resources. Ron Yeck, who is now vice president of operations, had been vice president of manufacturing.
Terms of the sale were not disclosed. Unette has about $10 million in annual sales from manufacturing flexible PVC packaging for products like shampoos and from filling personal-care and cosmetic industry packaging.
Newly named Uniplas adding extruder, jobs
PORTADOWN, NORTHERN IRELAND — Unidare Plastics Ltd. has changed its name to Uniplas Ltd. and will install a second twin-wall PVC pipe extrusion line as part of a £2 million ($3.26 million ) expansion.
Uniplas of Portadown will add 20 jobs during three years.
Uniplas aims to raise its overall sales to about $35 million in the next three to four years, from its current level of about $26 million. Uniplas intends to expand production and increase export sales, newly appointed sales director Michael Lorimer said by phone.
Chief Executive Officer Bill Tosh said in a news release, ``We are refocusing our business to concentrate on three core-competency areas of telecommunications, the water industry and the construction industry.''
Today, almost all of Uniplas' pipe is PVC, although it makes a small amount of medium density polyethylene pipe. At its single Portadown plant, Uniplas operates 14 extrusion lines.
Exports account for 10 percent of Uniplas' production, chiefly to Ireland and the Middle East. But its aim is to increase sales to Western Europe, and hopes to export 30 percent of its output.