Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Sign Up Free
  • Login
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • K Show
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • Processor of the Year
    • Best Places to Work
    • Women Breaking the Mold
    • Rising Stars
    • Diversity
    • Most Interesting Social Media Accounts in Plastics
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • Pellets and Politics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • PN Live: Mergers and Acquisitions
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Resin Prices
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
News
March 11, 2002 01:00 AM

Newsclips

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    Kennerley-Spratling buys MOS Plastics

    SAN LEANDRO, CALIF. - Kennerley-Spratling Inc. has acquired MOS Plastics Inc. in a combination of two northern California custom injection molders.

    KSI bought MOS from investment firm CHF Capital Partners of Palo Alto, Calif. Terms of the March 1 cash deal were not disclosed.

    About 30 miles separate the plants of KSI in San Leandro and MOS in San Jose. With the linkage, each business can offer a broader range of services, from design through assembly. The sites will operate as separate business units.

    KSI employs about 175 at a 72,000-square-foot facility. It operates 23 presses with 80-1,000 tons of clamping force. MOS, which employs about 50, has 38 machines of 28-550 tons in a 60,000-square-foot plant.

    On Jan. 1, KSI formed a separate company for its automotive parts production, said Jeffrey Cranor, KSI vice president of sales. KS Automotive Inc. employs 50 and operates 17 presses up to 1,760 tons. Its 30,000-square-foot facility in San Leandro is near the KSI plant.

    Formica Corp. files for bankruptcy

    WARREN, N.J. - Thermoset laminates producer Formica Corp. has filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

    The Warren company said March 5 it will restructure U.S. operations and has reached an agreement with its banks to support continuing operations. The announcement comes about two months after Formica replaced senior management and hired Lazard Freres & Co. LLC as a restructuring adviser. Formica appointed Frank Riddick III, former president of building materials producer Armstrong World Industries Inc., as president, chief executive officer and director of Formica.

    Formica's main U.S. plant is in Odenton, Md. The firm said it does not expect its bankruptcy petition to affect subsidiaries in Canada, Mexico, Brazil, Europe and Asia.

    Riddick said Formica will continue production and will continue to pay vendors. He blamed the firm's difficulties on the recession, aftershocks of the Sept. 11 terrorist attacks and a high debt load. Its major, indirect shareholder is Credit Suisse First Boston Private Equity.

    Formica's banks will provide a $77.9 million revolving credit loan and letters of credit to help keep the company running. The company, founded in 1913, makes decorative surface materials, including high-pressure laminates, solid surfacing materials and laminate flooring.

    InnoPlas nabs assets of defunct Richland

    LEXINGTON, OHIO - InnoPlas Corp. of Kenton, Ohio, bought the assets of defunct injection molder Richland Molded Products at a March 7 sale conducted by the Richland County Sheriff's Office.

    InnoPlas paid $97,000 for the equipment - $17,000 more than the appraised value - according to sheriff's deputy Cathy West.

    InnoPlas owner Keith Kinnear said he probably would use two of the 16 injection presses acquired in the sale at a new, 80,000-square-foot plant his firm will move into in Kenton later this year. The remaining presses either will be put into storage or sold, Kinnear said, adding he was more interested in the dryers, grinders and accessory equipment acquired in the purchase.

    InnoPlas outbid Cleveland Die Stamping, a metal-stamping firm that had planned to reopen Richland Molded and hire former Richland plant manager Alan Kleer.

    Lexington-based Richland went out of business Nov. 30, less than a year after being purchased by Patrick Healy. Proceeds from the sale will be used to pay down a $900,000 debt Healy owed to Charter One Bank of Cleveland

    Healy could not be reached for comment.

    Briefly ...

    * Silvatrim Corp. of America of South Plainfield, N.J., is out of business, the second profile extruder casualty in New Jersey within a few months. President Bill Shanok, reached by telephone March 5, declined comment. Custom extruder Dande Plastics Inc. in Dunellen, N.J., shut its doors three weeks ago after being in operation since 1967. Silvatrim made decorative moldings, cellular foam frames and products for markets including building and construction, appliances, industrial and furniture. ... Precision injection mold maker Morrow Enterprises Inc. has closed its doors. Officials from the Horse Shoe, N.C.-based mold maker did not return calls seeking comment, but the Hendersonville (N.C.) Chamber of Commerce said it was notified Feb. 19 that Morrow would be closing. Indian Trail, N.C.-based Asset Sales Inc. auctioned off the firm's machinery March 7.

    RECOMMENDED FOR YOU
    Thermoformer Genpak closing Ohio facility, cutting 67 jobs
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    Asahi Kasei settles Michigan PFAS lawsuit, agrees to clean up pollution
    2
    Numbers That Matter Live January 2023: Expect short-term pain, strong rebound in 2024
    3
    Berry, Coca-Cola launch tethered caps in EU markets
    4
    Berry sees growing health care demand in India; new plant to open soon
    5
    Top-dollar deals, repeat buyers highlight 2022 M&A
    SIGN UP FOR OUR FREE NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Tire Business
    • Urethanes Technology
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • K Show
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • Processor of the Year
        • Best Places to Work
        • Women Breaking the Mold
        • Rising Stars
        • Diversity
        • Most Interesting Social Media Accounts in Plastics
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • Pellets and Politics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • PN Live: Mergers and Acquisitions
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Resin Prices
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified