American Plastic to add machines, jobs
CHATTANOOGA, TENN. - In-line thermoformer American Plastic Industries Ltd. is close to gaining the approvals it needs to launch a $14 million
The company plans to add new machinery to a second building in Chattanooga and hire as many as 130 people, said officials with both the city of Chattanooga and the Chattanooga Area Chamber of Commerce. American Plastic officials did not return several telephone calls.
The firm has been a pioneering maker of thermoformed polypropylene cups and containers. Early this year founders Ray and Charles Amin sold the company to Waddington North America Inc. of Covington, Ky. The expansion would boost local employment to 275, said Trevor Hamilton, the chamber's director of global business development.
The city still must approve a tax incentive package that has received approval from Hamilton County. The city council will decide the issue in the next several weeks, said Todd Womack, a spokesman for Chattanooga Mayor Bob Corker. The company has said it will proceed on the expansion once the incentive package is in place, Hamilton said. The expansion would be completed later next year, he added.
Waddington, which has annual sales of $185 million, is owned by Chicago-based equity firm Code Hennessey & Simmons LLC.
Award lands Stoner White House invite
QUARRYVILLE, PA. - Stoner Inc., a supplier of mold-release agents to plastics processors, won a 2003 Malcolm Baldrige National Quality Award.
Stoner is the smallest business ever to receive a Baldrige award and one of only 14 small-business winners since Congress established the recognition, first presented in 1988, said Rob Marchalonis, Stoner general manager. The firm employs 48.
The award rewards quality and performance excellence and aims to increase the competitiveness of domestic organizations.
Stoner makes mold-release agents, specialized cleaners and rust preventives. Paul Stoner founded the Quarryville firm in 1943. His grandson, Robert Ecklin Jr., is now owner and president.
The seven 2003 Baldrige winners, selected from 68 entrants and announced Nov. 25, will be invited to a White House ceremony in early 2004. Other winners included a manufacturer, two business services, a school district and two hospitals.
American Molding moving to bigger plant
ERIE, PA. - Precision injection molder American Molding and Technologies Inc. plans to more than double its size in moving about nine miles, probably by the end of March.
The Erie County Redevelopment Authority approved a low-interest, $250,000 loan for the project Dec. 10, and an entity of the Pennsylvania Industrial Development Authority is actively considering a separate loan application.
The firm has committed to acquire an 18,000-square-foot building in Fairview, Pa., for $570,000. Closing for the real estate deal is scheduled in early 2004.
``The building is laid out for a molding operation,'' said Steve Patterson, American Molding's general manager.
Currently in Erie, the firm has 4,800 square feet of manufacturing space and 2,000 square feet for warehousing.
American Molding employs 14 and has agreed to add 25 new jobs over three years.
The firm was established in January 2000 and injection molds tight-tolerance electronic connectors on seven Nissei and Demag presses of 40-120 tons.
Coperion to sell Chinese-made extruders
RAMSEY, N.J. - German compounding systems manufacturer Coperion Group has reached an agreement with Chinese extruder maker Nanjiing Keya Industries to sell Keya products outside of China.
Keya, based in Shenzhen, China, said it has more than 50 percent of the Chinese market for standard- and medium-size extrusion equipment. The two companies said the agreement aims to provide the Chinese market with technology, and said that to facilitate that, Coperion established a small assembly operation in Shanghai in 2003.
Jan Van Bakergem, president and chief executive officer of Coperion Corp., the company's U.S. unit in Ramsey, said the agreement does not include any investment in Keya, but he said it could in the future. Coperion is based in Stuttgart, Germany.