Kurz-Kasch Inc. has acquired Mayfair Molded Products Corp. to expand its business base, and plans to close Mayfair's only plant, in Schiller Park, Ill.
Dayton, Ohio-based Kurz-Kasch purchased the processor June 3 from holding company Wozniak Industries Inc. of Oakbrook Terrace, Ill. Terms were not disclosed.
``It's a good deal for both of us,'' said Todd Wozniak, vice president with the seller. ``They can concentrate on plastics, and we can concentrate on metals.'' Wozniak Industries had owned Mayfair since 1988.
Ultimately, the closure will affect 64 employees, down from more than 170 in 1998. The company said it will allow interested employees to relocate. The plant probably will close in early August, but Kurz-Kasch has not established a final time frame.
``We are working with [Mayfair] customers to accommodate their schedules,'' Neal Allread, Kurz-Kasch president, said by telephone.
Mayfair had annual sales of about $7 million and was operating 51 injection molding machines, Allread said. ``Ninety percent of the business is still there'' in Schiller Park.
Kurz-Kasch has two plants in Ohio, in Newcomerstown and Wilmington, plus a new business development center in Wilmington. The company employs 350. While it does not disclose current financial data, the firm had 1999 sales of $15 million.
The company makes electromagnetic products and specialty plastic components. The company does compression, transfer, injection, insert and injection compression hot-cone molding. Products include thermoset brush holders, phenolic pistons, slip rings and electronic valve assemblies.