French firm acquires molder Pet Plas
LEEDS, ENGLAND — Pechiney International SA is boosting its European PET bottle business by acquiring custom preform molder and blow molder Pet Plas Packaging Ltd.
Nine-year-old Pet Plas makes PET beverage and toiletry bottles in sizes from 6 fluid ounces to 5 liters at two plants in Leeds. The firm reported 1998 sales of £20 million ($33 million).
Terms of the deal were undisclosed.
Pet Plas will become part of Pechiney's Chicago-based American National Can Co. subsidiary, according to Pechiney. ANC's plastic bottles business produces single- and multilayer polyolefin and PET barrier bottles at four North American plants.
The acquisition eventually could allow ANC to make PET bottles locally for European beer companies. ANC pioneered a multilayer PET beer bottle in Europe in 1997 — but those bottles were manufactured at U.S. plants.
Pet Plas founder Tony Cain, who will remain a shareholder and at the helm as managing director, said ANC's proprietary technology and resources will benefit his firm's existing customer base and allow it to broaden its product line.
Paris-based Pechiney has plastic research and development centers at Voreppe, France, and Neenah, Wis.
Solvay unit eyes U.S. for extrusion plant
ANAHEIM, CALIF. — Alkor Draka Advanced Films Inc., a unit of Solvay SA, is considering building an extrusion plant in the United States, but company officials said no decisions have been made on size or location.
Alkor, which focuses on the medical market, currently makes PVC compounds and extrudes collapsed tubing for dialysis, IV solution and blood bags and other applications from factories in Holland and France.
An Alkor manager at the Medical Design & Manufacturing West trade show in Anaheim said the company wants to build the U.S. plant in 12-18 months, but Alkor President Fred Young downplayed that in a Feb. 10 telephone interview.
``It's something we are considering for sure but we have no idea of timing,'' he said.
The company's primary plant for compounding and extruding tubing is in Holland, while a smaller operation is in France, Young said. The Alkor Draka unit also imports material for notebook binders and kitchen counters.
Alkor Draka is based in LaPorte, Indiana. Solvay SA is based in Brussels, Belguim.
Lund sells Fibernetics unit to investors
COMPTON, CALIF. — Truck accessory manufacturer Lund International Holdings Inc. has sold its Fibernetics division to investors, including the division's former general manager and vice president.
The executive, Jim Covone, is now president and chief executive officer of the new firm, Fibernetics Molded Products LLC.
The new company, based in Compton, makes thermoformed products, including running boards, body kits and other parts for Honda Motor Co. Ltd. and Toyota Motor Corp. The company also makes dashboards for buses and ambulances.
Fibernetics will remain in the same 100,000-square-foot building in Compton. It employs 165.
Lund of Anoka, Minn., makes proprietary products including aftermarket truck accessories.
The company employs the same 165 that worked for the Lund division.
Asked why Lund sold to Fibernetics, Covone said: ``We really didn't fit in [Lund's] long-term plans because Lund is primarily proprietary.'' He added that the break from Lund will give Fibernetics more time to devote to outside customers.
Fibernetics processes plastic, fiberglass, carbon fiber and urethane materials.
PN notes changes to ABS resin prices
AKRON, OHIO — Prices for extrusion grades of ABS are being corrected on this week and next week's Plastics News resin pricing chart.
Price reductions that were indicated in the Feb. 1 issue for injection molding ABS grades were applied incorrectly to sheet extrusion grades as well.
Per-pound prices for sheet extrusion grades will be returned to 77-78 cents for large-volume purchases next week. Per-pound prices for pipe extrusion grades were returned to 62-64 cents for large-volume purchases this week.