PH Group building $4 million HQ in Ohio
COLUMBUS, OHIO — PH Group Inc., which builds Trueblood vertical injection presses, compression molding machines and metal-stamping presses, plans to invest $4 million in a new headquarters plant in Columbus.
PH Group bought 7 acres of land to build a 40,000-square-foot building. Construction should be completed by the fall of 1999.
The decision, announced in September by the publicly traded company, means PH Group will remain in Columbus. PH Group is relocating compression molding maker St. Lawrence Press Inc. from Romulus, Mich., to Columbus. St. Lawrence Press machines process sheet molding and bulk molding compounds.
``The $4 million investment in land, building and machinery reflects the company's commitment to become a dominant force in the manufacture of insert molding machines,'' said Charles T. Sherman, chairman, president and chief executive officer.
PH Group is buying a high-speed computer numerically controlled boring mill and adding Pro/Engineering software for computer-aided design. Three overhead cranes will move parts and machines at the new plant. The building also will house a machine demonstration area and space for training.
PH Group is traded on the Nasdaq Electronic Bulletin Board. The company reported 1997 sales of $13.8 million and a profit of $604,846. Trueblood insert molding machines accounted for about half of total sales.
Markets for PH Group's injection molding include automotive, electrical, medical, aircraft and consumer goods.
Montell, Shell team for project in india
Montell Polyolefins and Shell Chemicals Ltd. are launching a billion-dollar petrochemical project in Maharashtra, India, in cooperation with two Indian chemical firms.
The project — dubbed Project Lotus — will include 990 million pounds of polyethylene capacity and 460 million pounds of polypropylene capacity along with a 1.3 billion pound-per-year naphtha cracker that would provide ethylene and propylene feedstocks. It will be focused around an existing manufacturing center owned by National Organic Chemical Industries Ltd., one of the two Indian firms involved.
Montell, of Hoofddorp, the Netherlands, and London-based Shell also will split the project with Mafatial Industries Ltd. Shell/Montell will own 49 percent of the proposed facility, which is scheduled to begin production in 2003.
Mafatial's businesses include textiles, chemicals, engineering, finance, information technology and pharmaceuticals. National Organic is a major Indian petrochemical and polymers firm.
Jean-Michael Couteau will serve as Shell/Montell project manager at the site. Both Shell and Montell are units of the Royal Dutch/Shell group.
Montell is the world's largest PP maker with more than 7 billion pounds of capacity. The company operates a PP compounding joint venture with Machino Plastics Ltd. in Gurgaon, India.
Montell's Spheripol PP production technology already accounts for one-third of Indian PP production through a licensing agreement with Indian Petrochemicals Corp. Ltd., which operates two PP plants.
National Organic and Haldia Petrochemicals Ltd. also license Montell's Spherilene PE production technology, which the companies expect to account for one-third of Indian high density PE and linear low density PE production by 2000.