Tyco closing two plants, moving work
EXETER, N.H. — Tyco International Ltd. is closing electronics division plants in Harrisonburg, Va., and Shrewsbury, Pa., and moving the work to other facilities in Pennsylvania and North Carolina.
The Shrewsbury site employs 200, does injection molding for computer and automotive applications and will cease operations by June.
The Harrisonburg plant employs 350 and will close by September.
Both locations joined Tyco in the April 1999 acquisition of Amp Inc. Product lines include terminals, fiber optics, printed circuit board and cable connectors and assemblies, and cable and cabling systems.
Tyco International, a Bermuda corporation with key offices in Exeter, reported profit of $3.73 billion before restructuring and extraordinary items on sales of $28.93 billion for the year ended Sept. 30. Tyco Electronics accounted for $2.85 billion of the sales.
Fire departments take Linpac to court
MOUNT VERNON, IND. — Polystyrene packaging maker Linpac Inc. is being sued by nine volunteer fire departments in connection with a Dec. 17, 1998, warehouse fire in Mount Vernon.
The fire and rescue departments have filed suit in U.S. District Court in Evansville, Ind., to recover costs of $312,614 from fighting the fire, which destroyed a 320,000-square-foot warehouse.
According to the suit, the nine plaintiffs billed Linpac within 30 days of the fire, but Linpac apparently failed to pay.
It took six days to quench the blaze fully, according to the former Mount Vernon Fire Chief Kevin Brown.
Linpac of Marietta, Ga., had been storing polystyrene resin at the time of the fire. GE Plastics Inc. and B&M Plastics Inc. also used the warehouse for material storage. GE lost 20 million pounds of pellets and 8 million pounds of additives in the fire. Brown said GE offered financial assistance for the cleanup.
State fire marshals have not released the cause of the fire, Brown said, but have determined that the Linpac storage area was the point of origin.
Borealis buys out Nova in joint venture
ROCKPORT, N.J. — Borealis A/S has bought out Nova Chemicals Corp.'s stake in the firms' wire and cable materials joint venture, Nova-Borealis Compounds LLC.
Borealis said its sole ownership will provide a more focused business direction as the Danish firm strives to be a global leader in wire and cable compounds. The firm, based in the Copenhagen suburb of Lyngby, did not disclose how much it paid to get Nova's interest.
Nova and Borealis formed the venture in 1996. It makes polyethylene-based compounds for extra-clean cable insulation, automotive wiring, moisture-cure materials and low-voltage resins in Rockport. It supplies materials in North and South America.
Borealis spokesman Marc Van Aperen said that, under new ownership, the Rockport-based business expects to triple its production volume this year compared with 2000. Last year, the operation boosted production capacity to about 143 million pounds per year to accommodate growth and produced 46 million pounds of materials.
Nova officials declined comment on why the Pittsburgh-based company sold its stake in the business.
Trade media changing for mold makers
RANCHO CUCAMONGA, CALIF. — A California publishing company, Access Communications, is launching a product news tabloid called North American Tool & Mold Making Product News, beginning with a May/June issue.
In other news about trade magazine that cover molds, Modern Plastics is pulling back its stand-alone publication, Modern Mold and Tooling, and now will run the content in MP's regular monthly issue.
North American Tool & Mold Making Product News will feature new-product items about machine tools, inserts, mold bases, software and other products for mold makers. The tabloid will have a circulation of more than 31,000, according to Access Communications, based in Rancho Cucamonga.
Access will publish three issues this year, regular issues in May/June and September/October and a suppliers directory for November/December. The magazine will come out six times in 2002, according to Jay Martin, director of sales and marketing.
The new magazine is a sister publication of European Tool & Mould Making.