New Md. plant supports Fypon expansion STEWARDSTOWN, PA. — Fypon Inc. has leased a 53,000-square-foot plant in Hunt Valley, Md., to produce its polyurethane columns, balustrades and rails using cast molding.
The Stewardstown-based manufacturer of indoor and outdoor building products will move into the new building in the next few weeks, and hopes to be operating within three months, said spokeswoman Jennifer Kulisiewicz.
The new plant will be across the street from an existing Fypon warehouse and distribution facility, she said. Fypon plans to hire several hundred employees during the next few years, she said.
Training programs delay Mass. summit
BOSTON — The Massachusetts Plastics Summit has been postponed because its sponsoring organization, the Massachusetts Plastics Alliance, wants to develop worker-training programs to unveil at the event.
The summit had been scheduled for March 22 in Boston, but MAPA President Les Wood said the group wants it to be a springboard for the training effort. The summit could be held as early as late spring but may be delayed beyond that, he said.
The training program will focus on shop-level employees such as technicians, machine operators and toolmakers, he said. MAPA wants state officials to commit to establishing plastics training programs in vocational schools throughout the state, similar to a program in Leominister.
"It's a given the state will go for it," Wood said. "What we are asking the state for is a commitment, and then we will go out and raise the funds. We will ask for matching funds from the state. [But] a lot of this does not take money—it's curriculum."
Alcore investigated on fraud allegations
EDGEWOOD, MD. — Alcore Inc. is the subject of a criminal investigation over allegations of falsifying financial records and committing mail fraud, according to a federal affidavit.
Agents served a search warrant at the Edgewood-based maker of structural honeycomb core on Jan. 7 and seized computerized financial records. Authorities had filed the affidavit supporting a warrant request in U.S. District Court in Baltimore.
The affidavit alleged that the business reported a profit of $50,000 for 1999's third quarter when it actually had a $2 million loss. It also alleged that Alcore schemed to defraud lenders, possible buyers of Alcore's parent firm and independent auditors.
Special agents for the FBI and Defense Criminal Investigative Service interviewed current and former Alcore managers and obtained some financial documents, the affidavit said. At least one insider was cooperating with investigators.
Advanced Technical Products Inc. of Roswell, Ga., owns Alcore.
PS makers push for March price hike
AKRON, OHIO — Polystyrene makers Nova Chemicals Corp. of Calgary, Alberta, and Chevron Corp. of Houston will try to raise PS prices by 4 cents per pound March 1.
Representatives of BASF Corp. of Mount Olive, N.J., and Fina Oil and Chemical Co. of Dallas said their firms had not announced March increases as of Jan. 28. Officials with Dow Chemical Co. of Midland, Mich., could not be reached for comment.
Industry contacts said the hike is needed because of more demand and rising styrene monomer costs. PS prices rose an average of 6 cents per pound in 1999 after a series of increases and discounts were settled with buyers, but Nova's Hornack said last month that PS makers are still at "break-even economics."
PS makers currently are working to pass on 5 cent-per-pound price increases scheduled for early January.
Help PN complete its minority database
AKRON, OHIO — While Plastics News strove to include all relevant companies for its ranking of top minority-owned processors, some qualified businesses may have been overlooked.
If you work for a minority-owned processor, or know of a firm that should be included in upcoming reports, call PN's Craig Urey at (330) 865-6162 or e-mail him at [email protected]
A U.S. company is considered minority-owned if it is 51 percent owned and day-to-day operations are run by a U.S. citizen who is a member of an African, Asian, American Indian or Hispanic ethnic group. Businesses that are owned by a woman, but not minority-owned, have not been included in this database.