IPF diversifies into sheet extrusion
CAMBRIDGE, ONTARIO - Integrated Packaging Films Inc. has diversified into sheet extrusion at its Cambridge operation.
IPF's main business had been treating purchased roll stock to convert it to electrostatic-dissipative, conductive or anti-static sheet. The firm recently installed a new, 41/2-inch Milacron extruder to make sheet for its own needs and to sell in the market, said IPF President and owner Bill Mechar.
The 6-year-old company mainly has focused on supplying treated sheet to thermoformers making electronic packaging. The new extruder will allow IPF to make polypropylene and PET sheet and expand into food, medical and general-purpose markets. IPF will make custom sheet and roll stock in thickness of 0.015-0.06 inch and widths up to 48 inches.
Mechar said in a telephone interview that his company will have more control over sheet quality and cost with its own extruder.
Nypro plans launch of new medical unit
CLINTON, MASS. - Custom molder and manufacturer Nypro Inc. plans to expand beyond its roots by launching a business aimed at developing proprietary medical products.
Clinton-based Nypro said it wants to build its small NP Medical Inc. unit, which makes intravenous flow-control and needleless access devices, into a much larger maker of proprietary components through acquisitions, alliances and internal growth.
NP Medical will become part of the new unit, called Nypro Medical Products Group. NP Medical now has about $25 million in sales and employs 85, but the company wants the new unit to do at least $100 million in sales in five years, the company said in a statement.
The new unit will be headed by Randy Barko, who has been Nypro's corporate vice president for marketing and business development for 17 years. Barko will be chairman and chief executive officer of Nypro MPG.
The venture will focus on selling to the same medical-device manufacturers that Nypro targets for its medical custom molding work, said Nypro spokesman Al Cotton.
He said the unit could focus initially on disposable components similar to what NP Medical makes now. But it probably will look at other proprietary services it could provide, he said.
``The kind of opportunity is not clearly defined,'' Cotton said. ``What is clearly defined is the market.''
The company sees the new unit as a way to expand its larger medical business. Nypro will have about $175 million in medical industry sales in the fiscal year ending in June, out of about $800 million in sales worldwide. Nypro said it wants to double its medical industry sales in five years.
Credit card maker LM goes up for sale
MELBOURNE, AUSTRALIA - Australia's biggest manufacturer of credit cards, ABN Australasia Pty. Ltd., which trades as Leigh-Mardon, is for sale.
The Melbourne company, which has A$80 million (US$48.4 million) in debt, has 600 employees and makes 60 percent of Australia's credit cards, including Mastercard and Visa.
An official said the company's problems started after its 1996 sale by former owner Amcor Ltd. of Melbourne to New York-based American Banknote Corp. and a banking syndicate.
``With the benefit of hindsight, [the new owners] entered into business arrangements and contracts for LM that didn't make a lot of sense in the long term,'' said LM Chief Executive Officer David Head. Although LM expanded 30 percent in 21/2 years, its profit dropped 50 percent.
LM will be offered for sale as one group. ``Offering the business as multiple pieces has the capacity to complicate the transaction. That's not to say that if two parties came along and wanted the business in two different pieces, we wouldn't consider that,'' Head said.
Foam Fabricators buys Hirsch presses
SCOTTSDALE, ARIZ. - Foam Fabricators Inc. has acquired three Hirsch presses to shape mold insulated concrete forms for a rapidly growing construction niche.
One press is in a Jefferson, Ga., plant and another is in Fort Madison, Iowa. The third is scheduled to begin operating in Modesto, Calif., in April. Each press has specialized equipment to load the forms' reinforcement inserts automatically.
Separately, Foam Fabricators formed an alliance with Petropak de Chihuahua SA de CV in Ciudad Juarez, Mexico, in late 2002. Petropak has packaging-related operations.
``We saw an opportunity to become involved and supply contract manufacturers,'' James Hughes, Foam Fabricators vice president and chief financial officer, said by telephone. ``Petropak was not in a position to compete for that business.''
Existing Mexico plants of Foam Fabricators in Tijuana and Queretaro were too far away to serve potential customers in the Ciudad Juarez vicinity.
Scottsdale-based Foam Fabricators employs about 600 and has 15 manufacturing facilities for shape molding expanded polystyrene and, in several locations, foam fabrication.