Tyco cuts 140 jobs at Pa. molding site
PRINCETON, N.J. - Citing a shift offshore by many garment manufacturers, Tyco International Inc. will end manufacturing at its Ringtown, Pa., facility and lay off about 140 people.
The company will retain distribution and customer service in Ringstown but stop its injection molding work there by about Dec. 31, said Tyco Plastics & Adhesives spokesman Jay Pomeroy. About 20 people will remain at the facility.
The plant is part of Tyco's A&E Products Group, a dominant global maker of injection molded hangers and cutlery based in Secaucus, N.J.. The Ringtown site made hangers for garment manufacturers, many of whom have moved offshore, Pomeroy said.
``We have few customers in the U.S. anymore for that business,'' he said. ``A vast majority of them are overseas, and we've added capacity in places where they are located. We're in a position now where capacity is no longer needed [in Ringtown].''
Tyco Plastics recently moved its U.S. headquarters to Princeton. A&E did roughly $275 million in North American injection molding sales last year, according to Plastics News' survey.
Plastech to shut Ohio plant by year-end
DEARBORN, MICH. - Automotive supplier Plastech Engineered Products Inc. will close an Ohio plant, cutting 102 jobs by the end of the year, according to a notice filed with state officials.
The Dearborn-based injection molder did not respond to requests for information about the shutdown in Newton Falls, Ohio. The firm informed the Ohio Department of Jobs and Family Services Nov. 4 that it will cut the jobs by Dec. 31.
Final closure of the plant may depend on how quickly the company can shift work to other facilities, noted David Watson, Newton Falls city manager. The company has said it could continue some jobs there into January.
Venture tries to salvage Hyundai deal
FRASER, MICH. - Venture Holdings Co. LLC is continuing talks to save its deal to make injection molded parts for Hyundai Motor Manufacturing Alabama LLC.
The molder, which has been operating in Chapter 11 protection from creditors since March, has a deal to build a plant in Prattville, Ala., to supply parts to the South Korean carmaker's assembly plant now under construction in Montgomery, Ala.
In August, Hyundai asked the court to step in to alter the arrangement because Fraser-based Venture has been unable to obtain the financing needed to build the $100 million facility - potentially halting or slowing the launch of production for the carmaker's first U.S.-based manufacturing facility.
The molder already has plans to buy more than 40 HPM presses for the plant.
Venture and Hyundai have been negotiating an out-of-court agreement. Venture now has until Dec. 15 to find the funds, said company lawyer Sal Barbatano. Venture may not need that long, though, he said during a Nov. 20 telephone interview. The firm is in talks with a potential partner that may allow it to announce positive news before the end of November.
Vitec invests in fuel-tank blow molding
DETROIT - Vitec LLC will spend $20.6 million to expand a fuel-tank plant in Detroit.
The firm, which designs, blow molds and assembles plastic fuel tanks, is expanding its Clark Street Technology Park operation, located in a former General Motors Corp.'s Cadillac plant. The project qualifies for a tax credit of up to $1 million from the Michigan Economic Development Corp.
Vitec is a joint venture backed by TI Group Automotive Systems of Warren, Mich., and Greenwood Holdings, an investor group that includes Bill Pickard, chairman of Regal Plastics Co. Inc.
SPE extends deadline for award nominees
BROOKFIELD, CONN. - The Society of Plastics Engineers has extended the nominations deadline to Dec. 8 for awards that will be presented at next year's Annual Technical Conference.
Antec 2004 will be held May 16-20 in Chicago.
The SPE awards include the International Award, for exceptional achievement in plastics; Business Management Award; the Engineering/Technology Award; the Benefit to Society Award; the Education Award and the Research Award. SPE also honors product designers and manufacturers.
Nomination forms are available at www.4spe.org or by calling SPE in Brookfield at (203) 740-5447.