USPL's Clean Earth unit finds a buyer
BOCA RATON, FLA. - U.S. Plastic Lumber Corp. has a pair of buyers for its soil-cleaning unit.
Eos Partners LP of New York and Bank of America Capital Investors in Charlotte, N.C., have formed CEI Holding Corp. to acquire Clean Earth Inc. from the Boca Raton-based plastic decking extruder.
The partnership replaces the attempt by New York-based Founders Equity Inc. to acquire the firm as New CEI Inc. That purchase had been delayed because Founders Equity had difficulty securing financing, USPL officials said.
The $45 million cash deal will allow USPL to pay off a $39.9 million senior debt. The deal is to close in July or August.
APC names Rod Lowman its president
ARLINGTON, VA. - Rod Lowman has been named president of the American Plastics Council.
Lowman, a longtime APC executive, had been the administrative head of APC since former President Ron Yocum stepped down last year. Lowman is also one of two executive vice presidents at the American Chemistry Council.
APC merged into ACC earlier this year. Both groups are in Arlington.
Lowman's change in title does not change his job responsibilities, but is designed to make him a more-recognizable point of contact for the public, said APC spokeswoman Susan Moore. The APC and ACC boards made the decision June 5.
Maxdem employee goes on rampage
SAN DIMAS, CALIF. - Polymer research firm Maxdem Inc. is recovering from an employee's unexplained rampage June 14 that injured five workers and damaged the facility.
``We are closed for the meantime'' and expect to resume operations around June 25-28, Matthew Marrocco said in a telephone interview. Marrocco is vice president of research and development, chief technology officer and chairman of the San Dimas company.
The 30-year-old male worker allegedly stabbed two men with a knife and threw chemicals that ignited on three other men. He threatened police, and Los Angeles County sheriff's deputies shot and killed him in a parking lot. The sheriff's office withheld his name pending notification of his relatives.
The burn victims, ages 25, 32 and 40, remained under hospital treatment four days later. The two stabbing victims were treated and released: one for a stomach wound and another for arm and hand wounds.
Marrocco said privately held Maxdem employs 14. The firm researches electroluminescent polymers and proton exchange membranes. Marrocco and Robert Gagne co-founded the business in 1983.
PN receives journalistic recognition
CHICAGO - A jury of its journalistic peers has decided that when it comes to show-daily news coverage, nobody does it better than Plastics News. And they were pretty impressed with some of PN's other editorial efforts, as well.
The American Society of Business Publication Editors on June 20 in Chicago honored Plastics News with a national Silver Award - the highest award given in the category this year - for the Akron, Ohio-based weekly newspaper's on-site coverage of Plastics USA in Chicago last fall. PN competed with publications with circulation of less than 80,000. The same Plastics USA show dailies also garnered a Silver Award last month from ASBPE's nine-state Central Region.
The annual competition for editorial, graphics and online excellence drew more than 2,250 entries nationwide, the second-highest total ever, according to the Naperville, Ill.-based journalism association.
ASBPE also honored senior reporter Joseph Pryweller with a Gold Award in ASBPE's nine-state Central Region for his June 18, 2001, special report ``Drugs in the workplace.'' Assistant managing editor Jeannie Reall and editorial research coordinator Holly Keller contributed to the project, which won for ``Best Special Section'' in its circulation category.
These latest awards follow ASBPE naming Plastics News its national Gold Award winner for the ambitious, 72-page show dailies it produced at Chicago's NPE 2000 expo. PN again will be the exclusive show-daily publisher for NPE 2003, to be held next June 23-27 at Chicago's McCormick Place.