Shawmut acquires molder Brooklyn
DETROIT - Shawmut Corp. is adding processing to its textile production base with the purchase of Brooklyn Products Inc., a molder of headliners, door panels and other automotive interior trim components.
Shawmut, based in West Bridgewater, Mass., announced the acquisition of Brooklyn, Mich.-based Brooklyn Products on May 13 during the Automotive Interiors Show in Detroit. The acquisition will allow Shawmut to grow in existing and new markets, said Shawmut President and Chief Executive Officer Daniel Wyner in a news release.
Shawmut supplies woven and nonwoven textiles used in laminated products such as door trim panels, bolsters and pillars for the auto industry. It also is a supplier to the consumer products and medical industries. Brooklyn Products has used Shawmut materials for some time in its thermoformed interior systems.
The acquisition, made for an undisclosed amount, will marry the material with the molding process.
Shawmut will transfer production from Brooklyn to its existing operation in Port Huron, Mich., by the end of 2003.
Endot buys Okla. facility from Dura-Line
ROCKAWAY, N.J. - Endot Industries Inc. is making its westward expansion.
The Rockaway extruder of high density polyethylene pipe and tubing has acquired a 65,000-square-foot extrusion facility in Pryor Creek, Okla., from Dura-Line Corp.
Knoxville, Tenn.-based Dura-Line, a division of Emerson Electric Co., had shuttered the facility last fall. The deal closed April 2. Endot officials plan to have the plant running by June.
The plant will be equipped with four lines to produce small-diameter water pipe, duct and innerduct. Three of those will produce 31/2-inch pipe and the fourth line will be equipped with a corrugator, said Richard Kraft, vice president of sales and marketing.
Celebrating its 30th anniversary this year, the firm has served the water, electrical and telecommunications markets, but had not committed all of its resources to that latter market.
Endot reported $20.5 million in 2002 pipe and tubing sales.
Former owners buying back Plastic Trim
BEAVERCREEK, OHIO - The former owners of Plastic Trim Inc. are preparing to repurchase the 400-employee company.
C. William Mercurio, John A. Keighley and Otto A. DePaulis have formed PTI Acquisition LLC to buy the Beavercreek-based automotive supplier from JPE Inc. of Auburn Hills, Mich., for an undisclosed amount.
The pending purchase would leave publicly traded JPE with no actual manufacturing, following on the heels of JPE's sale earlier this year of Dayton Parts Inc., a maker of springs and other metal components.
Plastic Trim is an injection molder and extruder of exterior trim components, with factories in Beavercreek and East Tawas, Mich.
JPE bought the business in 1995, but the operation entered bankruptcy in 1998 after an unsuccessful turnaround effort. Auto industry entrepreneur Heinz Prechter bought the assets in 1999 under the name ASC Holdings Inc. Prechter also owned the separate exterior auto specialist ASC Inc. Plastic Trim operated as a wholly owned subsidiary of JPE.
The companies have not set a date to close on the sale.
Companies form fluoropolymers venture
LEOMINSTER, MASS. - Resin giant DuPont Co. and specialty compounder Alphagary Corp. will work together to develop new fluoropolymer compounds for the data cable market.
Under terms of an agreement announced May 14, Wilmington, Del.-based DuPont will provide fluoropolymer technology to the effort, while Alphagary of Leominster will offer its compounding expertise. The companies expect the deal to yield new products for cables used in fire alarms, fiber optics and numerous other markets.
A May 14 joint news release did not offer a timetable as to when the first products from the partnership would be available.
DuPont is one of the world's largest makers of fluoropolymers, nylon and many other engineering resins. AlphaGary ranks as one of North America's largest PVC compounders and also produces compounds based on thermoplastic elastomers, nylon, polyurethane and other materials. The firm operates plants in Leominster; Pineville, N.C.; Stoney Creek, Ontario; and Melton Mowbray, England.