Dynacast International Ltd. intends to sell its SPM custom injection molding unit, the company announced Dec. 23. The board of Alcester, England-based Dynacast decided on the move in early December. A strategic review of plastics and metals businesses followed Cinven Ltd.'s funding a $548 million management buyout of Dynacast and SPM on April 15. Cinven is a London-based venture capital firm.
SPM employs about 3,000 in 10 locations and anticipates 1999 sales of $230 million, Keith Thompson said by telephone from the Yorktown Heights, N.Y., office of Dynacast's U.S. subsidiary. Thompson is Dynacast International's director of tooling and engineering.
Recently, SPM closed plants in Calgary, Alberta, and Hickory, N.C., and transferred work to other locations.
SPM operates U.S. plants in Anaheim and Fremont, Calif.; El Paso, Texas; Hillsboro, Ore.; Houston; and Minneapolis. Other SPM operations are located in Kirkland, Quebec; Las Pintas and Apodaca, Mexico; and Mountain Ash, Wales.
Established as Southern Plastic Mold Inc. in Anaheim, Calif., SPM was operating as Bace Manufacturing Inc. in March 1995, when Dynacast acquired the plastics processor. Dynacast now will focus on metal die casting.
SPM tied for 19th on Plastics News' most recent survey of North American injection molders with related sales of $235 million in 1998.