Tech Group, Tech Mold partnership ends
TEMPE, ARIZ. - A 1972 partnership, originally a handshake between Bill Kushmaul and Steve Uhlmann, ended July 1.
Tech Group Inc. sold its 50 percent share of Tech Mold Inc. to key employees of the Tempe mold maker. Terms were undisc losed.
In a news release, Kushmaul, owner of the other 50 percent and Tech Mold's president, expressed an interest in continuing ``our excellent relationship with the Tech Group.''
Uhlmann, chairman of Scottsdale, Ariz.-based Tech Gr oup, said, ``We are pleased to acknowledge this next step in Tech Mold's future.''
The companies grew originally in different processes but recently have begun to overlap.
Tech Group has 12 plants worldwide, operates more than 250 molding machines, makes molds, provides secondary services and had sales of $134.7 million for the fiscal year ended June 30, 1998.
Tech Mold, a world-class mold maker, occupies several Tempe facilities. In addition to designing high-cavity molds, the firm operates 13 injection molding machines of 80-400 tons. The company did not release sales data.
Geon buys English compounder Acrol
AVON LAKE, OHIO - Geon Co. has expanded its presence in Europe by acquiring Acrol Holdings Ltd., a PVC compounder, additives distributor and textile maker based in Widnes, England.
Acrol is the United Kingdom's largest producer of PVC plastisols. The 18-year-old firm employs 55 and expects to post sales of about $17 million in 1999.
Acrol has plants in Widnes and Bolton, England. Avon Lake-based Geon, North America's largest PVC compounder, already operates a PVC compounding plant in Newton Aycliffe, England, through a joint venture with Norsk Hydro ASA.
The acquisition is Geon's fourth plastisol purchase in less than two years.
Davis-Standard purchases Ku-Ka-Ma
PAWCATUCK, CONN. - First, it was ER-WE-PA. Now KU-KA-MA.
Davis-Standard Corp. announced July 1 it bought German cable equipment maker Kunststoff-und Kabelmaschinenbau GmbH, known as KU-KA-MA.
The deal is Davis-Standard's second acquisition of a German machinery maker. In 1996, it bought ER-WE-PA in Erkrath.
KU-KA-MA specializes in extrusion coating and downstream equipment for making wire and cable. ER-WE-PA builds machinery for cast film, sheet and extrusion coating.
KU-KA-MA's production machinery and 50 employees will move from Haan, Germany, to ER-WE-PA's plant in Erkrath. Both Haan and Erkrath are near Dusseldorf, Germany, so t he move will not disrupt the work force, said Fred Bartkiewicz, vice president of marketing at Davis-Standard in Pawcatuck.
After the move, the Erkrath factory will employ 230, he said.
KU-KA-MA generates annual sales of about $10 million. Terms were not disclosed.
Myers Industries acquires Dillen Products
AKRON, OHIO - Myers Industries Inc. of Akron is making its debut in the horticultural products market with the acquisition of Dillen Products Cos.
The deal is set to close later this summer. Terms were not disclosed.
Dillen of Middlefield, Ohio, claims to be North America's largest producer and distributor of hanging baskets. It also injection molds and thermoforms containers used in retail garden centers and greenhouses and makes pots, trays, bowls, saucers and planters for the consumer market.
The 16-year-old company had $40 million in sales last year.
Myers reported 1998 sales of $392 million. The publicly held firm makes containers for the consumer and retail markets.
Donnelly offers its half of venture to Lear
SOUTHFIELD, MICH. - Automotive supplier Donnelly Corp. of Holland, Mich., plans to sell its 50 percent share of Lear-Donnelly Overhead Systems LLC, a maker of plastic headliners, to Lear Corp.
The move will give South field-based Lear sole ownership of the company, also in Southfield. Terms of the transaction, expected to be completed in late summer, were not announced.
The suppliers created the 50-50 partnership in 1997 to design and make overhe ad systems. It operates four molding and assembly plants in the United States, the Czech Republic and Ireland.
Overhead systems are part of Lear's core business of making complete interior systems. Donnelly said the company wants to focus on its automotive mirrors, window and handle systems.
Lear-Donnelly Overhead Systems produces thermoformed plastic headliners and other plastic components, including sun visors, interior lighting and overhead consoles.