Nordon gains Chili's injection molding
ROCHESTER, N.Y. — Nordon Tool & Mold Inc. has expanded its custom molding capacity by acquiring the injection molding division of Chili Plastics Inc.
Nordon boosted its press count to more than 65 when it completed the purchase Jan. 19, said Terry Donovan, president and chief executive officer. The extra capacity and business is expected to increase Nordon's sales by about 25 percent to $18 million to $20 million annually. Both operations are based in Rochester.
Donovan said his firm will enter hot stamping and pad printing through the acquisition, complementing Nordon's prototyping, design, mold-building and assembly services. Nordon also will enter new markets such as retail device components and computer housings, he said in a telephone interview.
Donovan said officials have not decided whether to move the Chili molding operation into Nordon's 61,000-square-foot facility. Privately held Chili will continue with its core business of packaging fulfillment.
Nordon was sold to an employee stock ownership plan in 1999. The ISO 9002 registered company's markets include office equipment, sporting goods, food storage, photographic equipment, auto parts and medical supplies.
Purchase puts AptarGroup in S. America
CRYSTAL LAKE, ILL. — AptarGroup Inc. has established a direct stake in the fast-growing South American closures market by acquiring a minority position in H. Englemann SA of Buenos Aires, Argentina.
The Crystal Lake company bought 35 percent of Englemann, an injection molder of closures for a range of industries, including personal care, household chemicals and food. Terms were not disclosed.
Stephen Hagge, Aptar chief financial officer, said Englemann has been contract molding for his firm, but Aptar wanted a more permanent presence in the area. In the long term, Aptar might consider buying a majority of Englemann shares, Hagge said.
Englemann runs about 30 injection presses with clamping forces up to 300 tons.
EGI acquires stake in Trim Masters plant
LAWRENCEVILLE, ILL. — Automotive supplier Ernie Green Industries Inc. has purchased a majority stake in a Trim Masters Inc. plant that supplies seats, door panels and interior trim to Toyota Motor Manufacturing North America Inc.
EGI now owns 51 percent of the Lawrenceville operation, formerly a joint venture between Johnson Controls Inc. and Araco Corp. The plant will operate under the name Automotive Technology Systems LLC.
JCI's Plymouth, Mich.-based auto parts unit and Araco of Toyota City, Japan, continue to share ownership of the remaining 49 percent of the 394-employee facility. EGI of Dayton, Ohio, is a plastics and metal component supplier to the auto industry, registering about $600 million in sales last year.
New COO: Corning could enter fencing
TOLEDO, OHIO — Owens Corning has appointed a new chief operating officer as it gears up to meet a 2003 goal for exiting the Chapter 11 restructuring process.
The Toledo-based building materials manufacturer may move into fencing and decking, said David Brown, the 23-year Owens Corning veteran who took over for Domenico Cecere.
"We've been looking at that for a couple months," Brown said in a Jan. 24 telephone interview. Cecere left the company to pursue other business interests.
Brown's appointment comes less than a week after a U.S. Bankruptcy Court approved a $70 million bonus plan to help the company retain 236 key employees. Owens Corning filed Oct. 5 for protection under Chapter 11 of the U.S. Bankruptcy Code.
Hobson hires broker to help find buyer
SHELL ROCK, IOWA — Hobson Mould Works Inc. has hired an outside broker to seek bidders for the financially distressed company within 30 days, before it faces more dire consequences.
The Shell Rock-based producer of blow molds and blow molded parts announced that it had retained investment broker Equity Partners Inc. of Easton, Md., to locate a buyer.