Bankrupt Westra puts assets up for sale
MONTREAL - Assets of Montreal bottle blow molder Westra are for sale.
Trustee in bankruptcy Litwin Boyadjian Inc. of Montreal is inviting offers for Westra's machinery, building and other assets until Sept. 6. For sale are 34 blow molding machines, screen printers, a 40,000-square-foot facility and a total of about 215,000 square feet of land.
Westra declared bankruptcy July 6. It listed liabilities of about C$5.2 million (US$3.4 million) and assets of C$4.1 million (US$2.7 million). Its largest creditor is Castleton Financial of Montreal.
Westra is a division of 3651517 Canada Inc. Established in 1979, Westra once employed as many as 140, but employment levels last year were half that. Its sales for the year ended Oct. 31 were about US$6.5 million.
Cresline eyes Pacific Northwest for plant
EVANSVILLE, IND. - Cresline Plastic Pipe Co. Inc. plans to set up a manufacturing plant in the Pacific Northwest.
Cresline said it is considering sites in Oregon, Washington and Idaho. It expects to make a final decision by October. The plant will be the eighth for Evansville-based Cresline.
The new operation will make pipe for turf, agriculture, residential and industrial plumbing, fiber-optic conduit, water, sewer and other applications. The company did not disclose the planned size of its investment or equipment details. Richard Schroeder, Cresline president and chief executive officer, told The Idaho Statesman that the plant will employ fewer than 100.
Schroeder said in a news release that the new facility will include a customer service center.
The private firm has been making plastic pipe for more than 50 years. It had estimated sales last year of $154 million.
Clear View producing bags in Mexico
ALBANY, N.Y. - Clear View Bag Co. Inc. opened a converting facility in Ciudad Juarez, Mexico, to be near customers that moved production to the region.
The plant began bag production in early August, said Todd Romer, operations manager for Clear View's head office plant in Albany. It is running five bag-making machines and a single-color printing press. He did not disclose the cost of the project.
The Ciudad Juarez operation is making a range of custom, low density polyethylene bags for commercial and industrial packaging, Clear View's main business. The site, like Clear View's other bag plants in Albany and Thomasville, N.C., is sourcing LDPE film from various U.S. film extruders.
A Ciudad Juarez supervisor, Angel Hagy, predicts the operation might need to expand as soon as the fourth quarter.
Clear View is owned by President William Romer and his family. The 40-year-old company employs nearly 100, 10 of those in Ciudad Juarez.
Davis-Standard eliminating more jobs
PAWCATUCK, CONN. - Faced with declining sales of its plastics machinery, Davis-Standard Corp. is asking salaried employees to accept a voluntary severance package in an effort to trim 40 salaried jobs from its U.S. operations at the Pawcatuck headquarters and a factory in Sommerville, N.J.
The news follows a financial report from parent Crompton Corp. that showed second-quarter sales at Davis-Standard declined 27 percent, to $58.1 million. The company blamed lower unit volume caused by a large decline in capital equipment spending. Backlog also was down. The machinery business reported a $4.3 million operating loss in the quarter.
In April the company cut about 80 factory-floor jobs in Pawcatuck, said Russell Chinni, director of human resources. The company manufactures extruders, blow molding machines, equipment to make blown and cast film, and machinery to make wire and cable.
Salaried employees were given 45 days to decide whether they wanted to apply for the severance package.
``We reluctantly decided to institute this voluntary program as a result of today's difficult economic environment,'' the company said in a written statement.
Under the offer, people who have worked at least 10 years at Davis-Standard can get up to two years of severance payments, and up to four years of continued medical benefits.
Davis-Standard employs about 900 in the United States and 1,300 worldwide, Chinni said.