Cooper-Standard closing trim business
NOVI, MICH. - Cooper-Standard Automotive Inc. is closing down part of its plastic trim business in Cleveland after failing to sell the business.
The company's automotive unit will halt production of its extruded original equipment parts, but will continue making some pieces for aftermarket, executives for the Novi, Mich.-based firm said.
Permanent layoffs of an undetermined number of the 31 salaried and 182 hourly employees at the plant will begin in July.
Coke shareholders seek recycling goal
ATLANTA - The battles over recycling at beverage industry annual meetings continue this year, but in more muted tones than the past few years.
About 4.3 percent of shareholders at Coca-Cola Co.'s largest bottler, Coca-Cola Enterprises, voted in favor of a resolution at the April 25 annual meeting that criticized the beverage industry's recycling policies and asked the company to set a goal for container recovery.
While the vote was not enough to force the firm to take action, it will bring the resolution back at next year's shareholders meeting for Atlanta-based CCE. Since this was the first year the resolution was heard at CCE, it needed only 3 percent to return.
Coca-Cola owns about 40 percent of CCE, meaning 7 percent of the shares not held by Coke voted in favor of the resolution, said Ken Scott, portfolio manager with investment house Walden Asset Management in Boston.
Walden and other shareholders noted that beverage container recycling rates have fallen and they criticized the company for not supporting environmental policies like bottle bills.
The aluminum beverage can recycling rate dropped from 61 percent in 1994 to 49 percent in 2001, while the PET bottle rate for soft drink containers fell from 50 percent to 35 percent in the same period, the shareholders said.
MedSource relocating extrusion to Ga.
PLYMOUTH, MINN. - Medical manufacturer MedSource Technologies Inc. is closing its Santa Clara, Calif., plant and relocating its plastic extrusion capability to a facility in Trenton, Ga., as part of a larger cost-cutting move.
The California factory made catheters. MedSource bought the facility in late 2000 when it acquired ACT Medical Inc. MedSource Chief Financial Officer William Kullback declined to say how many extrusion lines the firm had there, but officials said at the time of the purchase that it had three lines.
``We're moving those lines to a lower-cost location,'' away from the expense of Silicon Valley, Kullback said.
Plymouth-based MedSource is in the midst of a restructuring that will cost it $15 million to $20 million, but will save it $6 million to $8 million a year when it is completed two years from now, the firm said.
The restructuring includes moving assembly work to Navojoa, Mexico, and adding sales staff. Other details of the restructuring will be announced later, Kullback said.
Kreyenborg enters strand pelletizers
MUNSTER, GERMANY - Kreyenborg GmbH has purchased a German maker of strand pelletizers, IPS Intelligent Pelletizing Solutions GmbH.
Kreyenborg said the deal, announced April 30, means it will add strand pelletizing equipment to its underwater pelletizing offerings. Kreyenborg, based in Munster, makes underwater pelletizers and centrifugal dryers through BKG Bruckmann & Kreyenborg Granuliertechnik GmbH.
IPS will run as an independent company, keeping its plant in Grossostheim, Germany.
Australians get multiuse grocery bag
BRAESIDE, AUSTRALIA - The Australian government has helped launch a multiuse, low density polyethylene shopping bag to meet recycling and waste-reduction targets.
The ``Bag For Life'' product, designed by Braeside-based Rollspack Pty. Ltd., is stronger and more durable than the T-shirt bags widely available in Australian supermarkets, said national sales manager Simon Anderson.
The increased strength of LDPE, combined with a bottom gusset and sturdy handles, allows the bag to be used at least five times, Anderson said. Shoppers buy the bags at FoodWorks supermarkets for 15 Australian cents. Rollspack expects retailers to boost that price to 50 Australian cents eventually.
``We are supplying a cheaper option for the customer,'' Anderson said. Under the FoodWorks plan shoppers use the bags until they are damaged, then replace them for free at participating stores. Rollspack collects and recycles the damaged bags.
Rollspack is in discussions with other Australian supermarket chains about the product.