Orbis acquires pallet maker Nucon
OCONOMOWOC, WIS. - Materials handler Orbis Corp. is continuing its growth pattern, buying pallet and container structural foam molder Nucon Corp. for an undisclosed sum.
Marketing Vice President Pam Cinch said the purchase, announced Feb. 7, is ``in line with the products and leadership opportunities'' Orbis sees in the industry.
The deal brings with it Nucon's home-base operations in Deerfield, Ill., and units in Mexico and Europe. Orbis, based in Oconomowoc, has operations in the United States and Mexico.
The action marks the second acquisition for Orbis in the past four months. In November it bought the U.S. plastic pallet manufacturing business of Cookson Plastic Molding Corp.
Nucon produces plastic pallets, top frames, bulk container systems, plastic divider sheets and customer materials-handling products, serving the container, beverage, pharmaceutical, retail and food-processing industries.
The two companies were competitors, and in 1996 Nucon filed a lawsuit against Orbis - then operating under its corporate parent's name of Menasha Corp. - alleging patent infringements. The case settled out of court.
Federal-Mogul unloads light molding
SOUTHFIELD, MICH. - Federal-Mogul Corp. has agreed to sell its commercial vehicle and heavy-truck lighting program, along with the injection molding equipment used to make the lights.
Pending U.S. Bankruptcy Court approval, Federal-Mogul will sell its Signal-Stat Lighting Products unit to Truck-Lite Co. Inc. for $23 million, the firms said Feb. 6. The sale comes with molding lines now in place at a Federal-Mogul facility in Logansport, Ind.
Federal-Mogul of Southfield filed for protection under Chapter 11 of the U.S. Bankruptcy Code last year in response to growing liability from its exposure to asbestos litigation.
Its Signal-Stat unit posted $54 million in sales in 2001, the bulk of it in exterior lighting programs for commercial vehicles and tractor-trailer trucks. Truck-Lite of Falconer, N.Y., makes and sells lights for large vehicles in North America and Europe.
No Federal-Mogul facilities are included in the sale. The company also will continue supplying some components for the lights under a sales agreement with Truck-Lite.
Lear closing 13 more plants worldwide
SOUTHFIELD, MICH. - Another 13 Lear Corp. sites will shut down this year, following the fate of eight facilities in the United States and Mexico already targeted to close.
The automotive supplier announced late last year it would shutter facilities in Missouri, Ohio, Indiana, Michigan and Mexico - including injection molding trim plants in Peru, Ind., and Bowling Green, Ohio, that employ 325 people. Now executives for the Southfield-based interior specialist said the firm will close a total of 21 sites by year's end, affecting 9,500 employees. The additional closings do not affect any U.S. plants, Lear said.
``These actions are extremely difficult for the people involved, but are necessary,'' Vice Chairman James Vandenberghe said during a Feb. 1 conference call with analysts.
Sixteen of those locations are in North and South America, including the sites already publicly identified. The other five are scattered throughout the world.
Amanco to sell Hancor pipe in Mexico
FINDLAY, OHIO - Hancor Inc. has made its leap into the Mexican market by contracting Amanco Group to distribute high density polyethylene pipe.
``Depending on how this actually performs, we'd consider putting a manufacturing facility there,'' said Abraham Quijada, international sales manager with Findlay-based Hancor.
Hancor will produce the pipe at plants in Texas and California. It expects the alliance to generate first-year sales of $5 million.
``We're using existing capacity,'' Quijada said. ``Depending on demand, we will be adding capacity either here or in Mexico.''
The venture is Hancor's first outside the United States.
Amanco is the Latin American arm of Zurich, Switzerland-based Nueva AG. Amanco makes plastic and concrete pipe and other construction products, and reported 2001 sales of $700 million. It has 17 plants in 14 Latin American countries, including three in Mexico City, Leon and Monterrey, Mexico.
Hancor is owned by Perrysburg, Ohio-based Hancor Holdings LLC, which also owns vinyl siding maker Jancor Cos. Inc. Together, the firms had $430 million in 2000 pipe and profile sales.