Summa wins request restricting Waypoint
LOS ANGELES — Los Angeles County Superior Court has granted Summa Industries' request for a temporary injunction imposing restrictions on Steven Strawn and his recently formed Waypoint LLC of Rancho Dominguez, Calif.
Strawn was with Summa's Manchester Plastics Co. Inc. subsidiary. He resigned as its president to start Waypoint.
Torrance, Calif.-based Summa filed the suit July 15 alleging Waypoint was targeting Manchester's extruded plastic sheet and products customers. The injunction bars Strawn and his employees from soliciting and selling to Manchester's customers, hiring its employees or using or disclosing its trade secrets, Summa said in a news release.
The parties are discussing a possible settlement, but Summa is continuing to gather evidence.
Transfer Print exits laminates business
EAST BRUNSWICK, N.J. — Transfer Print Foils Inc., a division of HoloPak Technologies Inc., is selling its plastic laminating equipment and inventory for $130,000 Oct. 1 to Southtech Plastics Inc. of New Bern, N.C.
Transfer Print Foils will stop making decorative plastic laminated products, but will continue making pattern foils. It plans to concentrate on hot-stamping foils and holographic products.
Arthur Karmel, chief financial officer of HoloPak Technologies, said the division was not profitable last year. He said the unit's five workers will be transferred.
Southtech is privately owned and employs 40. It specializes in the plastic lamination business for the automotive aftermarket, marine and furniture industries.