Prime PVC invests $4 million in plant
MARION, IND. - Prime PVC Inc. is acquiring a second facility that doubles its current size and capacity.
The firm, which supplies rigid and flexible PVC compounds and powder, will move into the $4 million, 60,000-square-foot building in July, said President Ed Snyder. The location is adjacent to its existing 60,000-square-foot facility in Marion.
The success of its rigid PVC powder processing, as well as a 10 percent increase in output rates for its medical compounds business, instigated the acquisition, he said. He declined to reveal sales, but said the company has capacity of 40 million pounds annually.
The new site will employ slightly more than 20. Prime's original facility employed 40, but the firm may be adding 20 or so people there as well.
OM Group selling off PVC heat stabilizers
CLEVELAND - OM Group Inc. plans to sell its PVC heat-stabilizer product line for about $10 million in cash.
According to a news release, the deal, scheduled to close by the end of June, will let Cleveland-based OMG reduce its debt. The firm did not identify the buyer.
During fourth-quarter 2002, OMG went through a restructuring that included cutting 550 positions and closing noncore businesses.
While OMG's sales more than doubled in 2002 to $4.9 billion, its gross profit dropped to $271.2 million from $317.1 million.
With facilities in the Americas, Asia, Africa, Australia and Europe, OMG makes and markets metal-based specialty chemicals and related materials.
OMG officials could not be reached for comment.
Aussie co-op invents fire-resistant plastic
MELBOURNE, AUSTRALIA - Melbourne academics have invented a fire-resistant plastic.
The polymer/ceramic composite is a flexible material that behaves like other polymers at normal processing temperatures. It can be extruded and molded into complex shapes, and is available in a foamed version.
While conventional polymers break down into a powdery residue when exposed to heat and fire, the new material converts into a hard ceramic barrier.
The polymer was developed by the Cooperative Research Centre for Polymers, in conjunction with cable manufacturer Olex Australia Pty. Ltd.; Monash University and RMIT University, all in Melbourne; the Commonwealth Scientific & Industrial Research Organization and the Defense Science Technology Organization, both in Canberra; and the Sydney-based University of New South Wales.
CRCP Chief Executive Officer Ian Dagley said, ``Research into passive fire-protection products has increased over recent years as industries look for ways to enhance fire resistance in building and structures.''
Olex Australia has launched the first commercial product featuring the new fire-rated cables. They will be used in public buildings and factories to ensure electrical services can keep operating during a fire and to give occupants a better chance to escape.
``The aim is to counteract the movement of heat and smoke between rooms by sealing holes, prolonging stability or generally creating barriers to the passage of fire, heat and smoke,'' Dagley said.
CRCP has created new firm Ceram Polymerik Pty. Ltd., to commercialize more-passive fire-protection applications, for example, fire door and window seals.