Limburg Plastics assets up for auction
CONCORD, ONTARIO - Assets of custom injection molder Limburg Plastics Ltd. will be sold at auction June 25.
Trans-Canada Liquidations Ltd. of Toronto will hold the auction in the Toronto suburb of Concord, where Limburg was based. Secured creditors ordered the sale, Trans-Canada said in an advertisement.
For sale are Nissei, Engel and Kawaguchi injection presses with clamping forces of 40-250 tons.
In addition to the six presses, grinders, chillers and other auxiliary equipment will be sold. Limburg also had machine shop and metal-fabricating equipment that will be included in the auction.
Limburg officials could not be reached for comment on the auction. The company was established in 1985 and specialized in products made from engineering resins, according to Canadian Plastics Directory & Buyers Guide.
Krauss purchases Elastogran business
MUNICH, GERMANY- Krauss-Maffei Kunststofftechnik GmbH is buying the Elastogran polyurethane machinery business of BASF AG, in a bid to diversify KM's automotive-centered PU equipment into the appliance sector.
Terms were not disclosed. Krauss-Maffei has offered jobs at its Munich headquarters to the 50 machinery employees of Elastogran, which is based in LemfÃ¶rde, Germany.
Krauss-Maffei will continue Elastrogran's partnerships with mold maker Heidel GmbH in Viersen, Germany, and factory automation supplier Siempelkamp Handling Systeme GmbH of Wolfratshausen, Germany.
Krauss-Maffei wants to expand its PU machinery offerings into the appliance market, for products such as refrigerators and freezers. This spring the company opened a subsidiary in Italy, a key European appliance center.
The sell-off enables BASF's Elastogran Group to concentrate on its core activities of polyurethane materials and marketing.
Krauss-Maffei takes over all existing contracts, service agreements and spare-parts business.
Pliant goes through leadership changes
SCHAUMBURG, ILL. - Richard Durham has stepped down from his role as chairman and chief executive officer of flexible packaging producer Pliant Corp. as part of a series of management changes announced by the Schaumburg company.
Durham had agreed to stay in the top position at Pliant in 2000, after the then-Salt Lake City-based company was purchased by J.P. Morgan Chase & Co. and a management team. But he gradually has ceded day-to-day operations to Pliant officials in Schaumburg, where the company has its executive offices, said spokeswoman Margaret MacBeth.
Jack Knott, Pliant president and chief operating office, will assume the CEO role. Tim Walsh, a partner with J.P. Morgan Chase, will become nonexecutive chairman. Durham will remain a member of the Pliant board.
In other management changes, Ron Arzter has become president of Pliant Solutions, the company's consumer-products arm that includes the recently purchased Decora Inc.; Stan Bikulege, former Pliant executive vice president of operations, will assume the role of president of Pliant U.S.A.; and Elise Scroggs has been promoted to president of Pliant International.
Winpak buys Fleming's Webcote unit
WINNIPEG, MANITOBA - Winpak Ltd. plans to strengthen its lidding technology and market share by acquiring the Webcote division of Fleming Packaging Corp.
Webcote makes die-cut metal foil lids that are attached to plastic containers for dairy products such as yogurt, and for other foods, beverages and pharmaceuticals. Its plants are in Peoria, Ill., and Orlando, Fla.
The acquisition will complement Winpak's lid production operation in Montreal, said Murray Johnston, Winpak vice president and chief financial officer.
Winnipeg-based Winpak expects to complete the acquisition by Sept. 1 for undisclosed terms.
Fleming is majority owned by Goldfarb Corp. of Toronto.
Winpak has annual sales of nearly C$470 million (US$305.5 million) in flexible and rigid packaging and packaging machinery.