Milacron settles on new headquarters
CINCINNATI — Plastics machinery builder Milacron Inc. made it official Nov. 2, announcing its world headquarters will move to a new office building in the Baldwin Center area of Cincinnati.
Milacron signed a 10-year lease to be the sole tenant of the new Baldwin 500 building, now under construction. Milacron's corporate staff of more than 100 will occupy the building by next July. The building has two lower levels of parking, and three upper floors with 70,000 square feet of office space.
The company's roots began in Cincinnati 115 years ago. In October, the company shortened its name from Cincinnati Milacron Inc. The new name reflects the recent sale of its Machine Tool Group to Unova Inc. Unova will retain Milacron's old headquarters in the Oakley neighborhood. Milacron will focus on plastics machinery and industrial products for metalworking.
The developer of Baldwin 500, Corporex, is investing about $111 million in the site. Milacron will contribute another $3 million in improvements to the offices.
Corporex plans to add two more office buildings and a hotel to the complex during the next three or four years.
Milacron employs about 1,800 in the Cincinnati area, including 1,200 at its plastics machinery assembly operation in Batavia, Ohio, and its machining plant in Mount Orab, Ohio. Worldwide employment is about 11,000.
Park-Ohio sells medical vial unit to Kerr
CLEVELAND — Park-Ohio Holdings Corp. has sold its Friendly & Safe Packaging Systems Inc. business to Kerr Group Inc. for an undisclosed amount.
In connection with the sale, Pharmaceutical Logistics Inc., a newly formed subsidiary of Park-Ohio's Integrated Logistics Solutions division, entered a long-term contract to provide supply-chain management services to Kerr.
Cleveland-based Park-Ohio developed the Friendly & Safe bottles and caps in 1997. The firm obtained a license from inventor Edward Akers of Fort Worth, Texas, to produce a one-piece, injection molded pharmaceutical cap and the injection molded bottle that it fits. The closures have a see-through, amber lid.
Erie Plastics Corp. of Corry, Pa., molded the bottles and caps for Park-Ohio and will continue to injection mold for Kerr.
Kerr plans to continue to operate the business, which it bought in late September, as Friendly & Safe and has incorporated it into its Jackson, Tenn., facility. Kerr is headquartered in Lancaster, Pa.
Thomas & Betts makes offer for Kaufel
MONTREAL — Thomas & Betts Corp. plans to acquire lighting products major Kaufel Group Ltd. of Montreal.
The two firms signed a definitive agreement under which Thomas & Betts offered a total of C$242 million (US$157.3 million) for all Kaufel shares and assumption of debt.
Thomas & Betts, based in Memphis, Tenn., boosted its plastics processing last year when it bought thermoset and thermoplastic injection molder Marr Group Ltd. of Mississauga, Ontario. Last year Thomas & Betts also moved its injection molding operation from Sanford, Maine, to Monterrey, Mexico. In 1996, Thomas & Betts acquired Amerace Corp., an electrical products molder in Hackettstown, N.J.
Kaufel makes emergency and other lighting products for industrial and commercial markets at 18 plants around the world. Its 1997 sales were C$230 million (US$165.6 million).
Thomas & Betts makes connectors and components for electrical and electronics markets at about 40 production plants around the world. It had sales of $2.1 billion last year.
Victaulic acquiring Coastline Plastics
EASTON, PA. — Victaulic Co. of America, a privately owned company based in Easton, has acquired Coastline Plastics Inc., a 3-year-old Yulee, Fla.-based manufacturer of chlorinated PVC pipe, fittings and CPVC-to-iron transitions.
Incorporated in June 1995, Coastline operates one manufacturing plant with 25 employees, said President Mark Porter.
Neither Porter nor Scott Frey, Victaulic manager of promotional services, would release the purchase price or the annual sales of Coastline or Victaulic.
Porter said Coastline will continue its Yulee operations and may hire more workers. In the meantime, the company plans to add a second injection molding machine to the plant by the end of the year and a fifth extrusion machine by mid-1999, he said.