Ineos takes over EVC, making big changes
SOUTHAMPTON, ENGLAND — Ineos Group plc plans to shake up management and operations at Europe's troubled top PVC producer, EVC International NV, when Ineos takes over next month.
The three-year recovery program will see the rebuilding of management teams, a round of cost reductions, and a "thorough review" of EVC's operating units, with a focus on production sites capable of competing globally, said Antoine Verrijckt, designated by Southampton-based Ineos as a member of EVC's new supervisory board.
EVC shareholders approved the 75 million euro ($69 million) deal Feb. 12. Ineos bought 52.7 percent of EVC with a combination of new shares plus a stake formerly owned by Imperial Chemical Industries plc of London.
Both of EVC's top executives, interim Chief Executive Officer Jacques Hurkmans and Chief Financial Officer Kenneth Tjon, are being replaced by Ineos' Ghislain Decadt.
Ineos operates manufacturing sites around the world, employing 6,000, and has annual sales of about 3 billion euros ($2.7 billion). EVC is based in Amsterdam, the Netherlands.
Certain Web sales to grow, says study
DEDHAM, MASS. — A study by ARC Advisory Group predicts Web sales of software and other automation products should explode from $247 million in 1999 to nearly $42 billion by the end of 2004.
The Dedham-based firm said the rise of commercial Web sites, intranets, extranets, trading exchanges and online auctions is driving the use of new automation tools.
ARC said 1999 was a pivotal year for online selling of automation tools. "Despite success among commercial product suppliers ranging from Amazon.com to Dell Computer, the historically conservative automation market has resisted the Internet revolution until only recently," said David Clayton, ARC senior analyst. "This resistance finally gave way in 1999."
Some big players, like Rockwell Automation, Siemens AG and Honeywell International Inc., are selling basic automation products online at all times.
Clayton said smaller software companies such as automationdirect.com and Software Toolbox see sales over the Internet as a way to gain market share from traditional market leaders.
SIG Group sells off firearms business
NEUHAUSEN RHINE FALLS, SWITZERLAND — SIG Group, the new parent of Krupp blow molding machinery, has sold off the last of its firearms businesses — the end of a 141-year history as a gun manufacturer.
SIG also reports it has sold two Blomax 16D PET stretch blow molders to Kirin Beverage, which makes cold tea drinks in Japan.
The gun sell-off means that SIG has repositioned itself as fully dedicated to packaging technology, said the Neuhausen Rhine Falls-based company.
SIG was founded in 1853 as a train-car builder. The company diversified into guns in 1860, then added packaging equipment in 1906. SIG sold its rail-car unit a few years ago. The recently sold gun business includes pistols and rifles for hunting and target shooting.
SIG bought Germany's Krupp Kunststofftechnik GmbH last year.
In the Kirin news, SIG Corpoplast said the Blomax presses began turning out bottles for tea last April. The machines feed a bottling line that can fill 54,000 PET bottles an hour.
The company's U.S. headquarters, SIG Plastics Technologies USA Inc., is based in Northbranch, N.J.
Petrochem planning Indian PET facility
HALDIA, INDIA — South Asian Petrochem Ltd. is setting up Asia's biggest bottle-grade PET resin plant, at a site in Haldia.
The $97 million project will have annual capacity of 308 million pounds and is to start production within 27 months, according to the company.
Dhunseri Group, a Calcutta, India-based industrial conglomerate, is the parent to South Asian Petrochem and the lead investor in the project.
The plant will source purified terephthalic acid from a nearby Mitsubishi MCC PTA India Corp. Pvt. Ltd. plant.
Two German firms, Helm AG and Polytrade GmbH, have pledged to buy 75 percent of the PET plant's output for sale abroad.
According to South Asian Petrochem, PET demand in India is growing 30 percent annually.
Gitto/Global, a Lunenburg, Mass., compounder, has been chosen by Irvine, Calif.-based Hi-Tech Environmental Products LLC as a private-label compounder of its Vitrolite concentrates. ... Van Dorn Demag Corp., in Strongsville, Ohio, received the Ohio Award of Excellence. Van Dorn makes and supplies injection molding equipment. ... Southern Illinois University-Edwardsville has awarded Watlow Electric Manufacturing Co. of St. Louis the Mississippi Valley Family Business of the Year Award. Watlow supplies industrial heaters, sensors, controllers, software and systems.