Sealed Air zeroing in on Reflectix buy SADDLE BROOK, N.J. — Sealed Air Corp. plans to expand its cellular insulation business by acquiring Reflectix Inc. of Markleville, Ind.
Saddle Brook-based Sealed Air will pay about $6.1 million for Reflectix and expects the deal will be completed in the third quarter of this year. Reflectix makes metal foil-faced cellular insulation, a complement to Sealed Air's protective packaging products.
Reflectix shareholders with 42 percent of the firm's stock have agreed to the deal. Reflectix will hold a special shareholders' meeting to vote on the proposed purchase.
ABTCo. shuts year-old supplier plant
HUNTERSVILLE, N.C. — A small, one-machine automotive extrusion plant has closed its doors after only being in operation for little more than a year.
ABTCo.'s Chesterfield Township, Mich., plant halted operations last month after its only customer, G&L Industries, stopped production at its plant on the same industrial campus, said Bill Adams, business director of wood polymers at Huntersville, N.C.-based ABTCo.
G&L, which made interior products for the automotive industry, leased out an approximate 40,000-square-foot building to ABTCo., he said.
"We supplied our composite product to them," Adams said.
ABTCo., which makes vinyl and composite building products, was acquired by Louisiana-Pacific Corp. early in 1999. Though it had no experience in the automotive industry, ABTCo. inherited the Chesterfield operation, which was the only company incorporated under Louisiana Pacific Polymers, an L-P subsidiary, he said.
Adams said he is unsure what the company plans to do with the extruder from that facility.
"We may keep it for our decking or we may sell it," he added.
ABTCo. does not plan to reenter the automotive supply business, Adams said.
WCGI president Norma Jean Anders dies
SACRAMENTO, CALIF. — Norma Jean Anders, president of Wilson Composite Group Inc., died May 26 in a Roseville, Calif., hospital after a three-week illness related to her weakened immune system.
She owned 30 percent of WCGI in Folsom, Calif., and was named president in May 1999. She joined the composite-structure firm as director of contracts in 1988, when WCGI was formed. Earlier, she held contract management positions with McDonnell Douglas Corp. and GenCorp.'s Aerojet unit.
Anders was born in 1938 in Pittsburgh and had lived in California since 1947.
Survivors include her husband of 39 years, Ted Anders of Fair Oaks, Calif.; her mother, Edith Rowe of Rancho Cordova, Calif.; a sister, Linda Greenly of Sacramento; and numerous individuals for whom Anders gave foster care.
Services were scheduled for June 3 in Sacramento. Donations may be made to the Lymphoma Research Foundation of America, 8800 Venice Blvd., Suite 207, Los Angeles, CA 90034.
Hanger maker Spotless consolidatªing
ASHEVILLE, N.C. — Plasti-Form Spotless Group announced May 23 that it is consolidating some of its manufacturing functions from a plant in Deer Park, N.Y., to its existing facilities in Asheville.
Making the announcement at an Asheville Area Chamber of Commerce fund-raising event, the company, which makes plastic hangers for retail stores such as Target, said it will move 70 manufacturing jobs from New York to Asheville and add 15 more to its reuse and distribution facility, also in Asheville.
The plant in New York will not close, but instead take on other aspects of the company's business, which were not identified.
The reorganization of jobs is part of an effort to centralize the firm's operations. According to a news release from the Asheville Area Chamber of Commerce, a feasibility study suggested that a more centralized operation would have more economic benefits for the company.
Dave Porter, vice president for economic development at the chamber of commerce, said company officials hinted at further expansion, but did not elaborate.
"This solidifies their presence here as they downsize elsewhere," Porter said.
Company officials did not want to comment for this story.
Spotless operates two facilities in Asheville, which employ 350: one for manufacturing and one for preparing the polystyrene and polypropylene hangers to be reused. It has operated in Asheville since 1987. The company is part of publicly held Spotless Group Ltd., based in Melbourne, Australia.