Construction veteran buys Four Seasons
GARRETTSVILLE, OHIO — After 13 years, injection molder and extruder Four Seasons Industries has a new owner who plans to expand the business in the coming years.
The Garrettsville-based company was sold in March to Michael Diskin, a veteran of the building and construction industry.
Diskin was searching for a company to buy when he came across Four Seasons, whose owners, Carol Cox and Myrna Seiler, wanted to sell the business. The company serves the toy, small appliance, and lawn and garden industries.
The U.S. Small Business Administration provided an $880,000 loan secured by KeyBank to fund part of the transaction.
Diskin refused additional financial information. Four Seasons' previous owners could not be reached for comment.
Under its previous owners, the company generated about $2 million in sales in 1996. In operation were six molding presses and two extruders.
Diskin hopes to boost sales by expanding the current customer base and its products, though he said he is unsure what new markets the company will explore.
InPro branching out with new division
MUSKEGO, WIS. — Medical-parts processor InPro Corp. has formed a new division to expand its product line to other custom parts.
The Muskego-based company created IPC Midwest Plastics to gather new business outside its core product areas, which include door and wall protection devices for hospitals and nursing homes.
The company's goal is to garner an additional $750,000 in sales in 1999, said Michael Sekula, vice president of InPro's custom-plastics division.
InPro specializes in extrusion and injection molding work, using both PVC and ABS resins, for such parts as handrails and wall guards. InPro recorded about $27.5 million in 1998 sales at its 100,000-square-foot plant.
Epsilon changes name to reflect film brand
SOUTH PLAINFIELD, N.J. — Epsilon Polyolefin Corp. of South Plainfield has changed its name to Epsilon-Opti Films Corp.
The new name reflects the company's commitment to the shrink film market and reinforces the trademark of its Opti-brand multilayer, biaxially oriented polyolefin shrink films, said Executive Vice President Edward Weiss.
Epsilon-Opti has completed the second of seven phases in its $50 million shrink-film-production project. The 80,000-square-foot plant sits on 7 acres.
The company added new slitting and centerfolding converting equipment. Epsilon-Opti also installed a computerized materials-handling and blending system, resin storage silos and a new rail siding. The technical services laboratory offers optical and physical testing equipment.
Epsilon-Opti operates two facilities — South Plainfield and a joint venture in Liverpool, England. Its films are sold to manufacturers of consumer retail products including audio and videotapes, toys and games, gift wrap and stationery, textile products, books, software and many food products.
Indian film producer to add extrusion lines
CHICAGO — Indian film producer Jindal Polyester Ltd. plans to add three extrusion lines in the next 18 months, in part to give it capacity for a North American push.
The expansion at two of the company's plants in India would boost its capacity to 70 million pounds from 44 million, said Anil Goyal, export general manager for the New Delhi-based company. After the expansion, the company will have six extrusion lines, he said.
The company also set up a subsidiary in Ridgewood, N.J., in October in an attempt to double the six million pounds a year it sells in North America, Goyal said. The company hired Bruce Hotmer, a former national sales manager for film for ICI Americas Inc., as the president and sole employee of Jindal America Inc.
Jindal is part of the Indian conglomerate B.C. Jindal Group Co., which also has investments in the steel industry and sells tea leaves. Jindal Polyester makes film from 36-1000 gauge, Goyal said.
He was interviewed at the Pack Expo show, held Nov. 8-12 in Chicago.
CPI extruding PE foam at its facility in N.C.
CHICAGO — CPI Packaging Inc. has added an extrusion line at its plant in Lincolnton, N.C., to make a polyethylene foam that has an oxygen barrier that is a corrosion inhibitor.
President Buddy Bussey said CPI would not release details of the capacity expansion. CPI has its headquarters plant in Marlboro, N.J., and a third plant in Chicago Heights, Ill. The company has annual sales in excess of $20 million a year, he said.
The additive is available commercially from Daubert VCI Inc., in Burr Ridge, Ill., but took several months of ``tweaking'' because it tends to cancel out other additives in the foam unless it is handled carefully, Bussey said.
``Anybody can buy the additive, but can they put that into foam?'' he said. ``That's the hard part.''
He was interviewed at the Pack Expo show in Chicago.