CPI expanding Extrudawood licensing
MISSISSAUGA, ONTARIO — CPI Plastics Group Ltd. has expanded its marketing agreement for extruded wood substitute to include countries outside North America.
The Mississauga firm said Oct. 28 it agreed to an international marketing deal with Extrudawood International plc of the Isle of Wight, England. CPI now has exclusive rights to enter agreements with manufacturers around the world to license or manufacture polystyrene foam-based Extrudawood.
CPI has an 80 percent interest in Extrudawood's North American joint venture and a 75 percent interest in the international agreement. Its partner is inventor Geoff House, who runs a plant on the Isle of Wight extruding window, door and roofline profiles. CPI recently opened its fourth plant and dedicated it to Extrudawood production with 15 31/2-inch Davis-Standard extruders.
The firm released its first financial results since it went public in September. For the three months ended Sept. 30 it had sales of C$12.5 million (US$8.1 million) and profit of C$819,000 (US$532,000). Nine-month sales and profit were C$34 million (US$22.1 million) and C$2.1 million (US$1.4 million), respectively.
Garland Manufacturing opening addition
SACO, MAINE — Garland Manufacturing plans to open a 14,600-square-foot addition to its Saco plant Nov. 12.
Charles Garland, fifth-generation president of the company, declined to say how many extrusion lines the company has and how many more the addition will support.
But, he said, the addition will allow the company to increase production, ``adding more extruders and inventory as we increase the number of profiles and sizes we are doing now.'' The new space gives the plant nearly 65,000 square feet. It employs 40 workers; more will be added next year, he said.
Garland Manufacturing was the first U.S. company to produce ultrahigh-molecular-weight polyethylene and 45 years ago was the first in the world to extrude UHMW PE, Garland said.
The company extrudes and fabricates conveyor components, as well as pressure-sensitive, Gar-Dur-brand UHMW PE tape.
Denali Inc. plans to purchase Plasti-Fab
HOUSTON — Denali Inc. plans to acquire another maker of fiberglass-reinforced products, its third this year.
The Houston-based firm announced a letter of intent to buy Plasti-Fab Inc. of Tualatin, Oregon. Plasti-Fab makes FRP flumes and metering stations for water and waste-water industries. Its sales are about $4.5 million a year.
In the spring, Denali bought CC&E/RPS, a Redmond, Wash., firm that makes large FRP tanks on-site. CC&E/RPS had annual sales of about $4 million. In June, Denali bought Fibercast Co., a producer of fiberglass-reinforced piping systems used in chemical and related industries. Fibercast makes wound and cast FRP pipe. The Tulsa, Okla.-based firm's current sales are more than $20 million a year.
Officials would not disclose details of the Plasti-Fab deal until it is completed, probably in about a month.
Denali reported sales of $35.5 million and profit of $1.3 million for its first quarter, ended Sept. 26. Denali makes FRP underground storage tanks, steel storage tanks and a range of FRP products for corrosion-resistant applications.
GKN Westland buying Dow-UT venture
WALLINGFORD, CONN. — Dow Chemical Co. and United Technologies Corp. have agreed to sell a 50-50 joint venture making composite aerospace parts to London-based GKN Westland Aerospace Inc., a subsidiary of GKN plc.
The transaction, for $62.5 million in cash, should close by year's end, said Bruce Alspach, president of the joint venture, known as Dow-United Technologies Composite Products Inc.
The Wallingford venture makes jet engine parts, air frames, helicopter assemblies and other aerospace parts, Alspach said.
The company has about 750 employees, Alspach said. The firm expects 1998 sales of $80.2 million and operates plants in Tallassee and Montgomery, Ala., and Wallingford, Alspach said.
GKN, which has more than $5.1 billion in annual sales, makes both automotive and aerospace parts.
N. American Lighting names new chief
FARMINGTON HILLS, MICH. — In the wake of a recent ownership shift, North American Lighting Inc. has named Daniel Robusto as president and chief executive officer. Robusto, who starts in January, was president and chief operating officer of Trident Automotive plc's Kentwood, Mich., automotive lighting operation.
Japanese supplier Koito Manufacturing Co. Ltd. owns 90 percent of North American Lighting after buying a 50 percent share from Hella KG Hueck & Co. in October. North American Lighting, a molder of lenses and reflectors, is based in Farmington Hills. The company operates two plants and has a sales office.
Robusto replaces former President Edward Grenda, who left to take a one-year sabbatical. Grenda had been president for 11 years.