New owners take over McKechnie site
EASLEY, S.C. - A new equity group has bought an injection molding unit of McKechnie Plastic Components and plans to acquire more businesses. CH Industries Inc. bought McKechnie's Easley-based molding unit May 5 for an undisclosed amount, renaming it Easley Custom Plastics Inc.
ECP employs 170 making parts for hand and power tools, building and construction, transportation and closures, said Steve Olson, vice president of sales and marketing. The company operates 45 presses with clamping forces of 45-2,200 tons.
``We're pretty excited about [the CH ownership],'' Olson said. ``We've got a lot of new products in development that our customers have a lot of interest in.''
McKechnie, based in Stamford Bridge, England, had owned the operation since 1990.
Craig Homan, president and chief executive officer of Easley-based CH Industries, said the business is the first of what he expects to be a series of plastics acquisitions. Homan is a former president and chief executive officer of Stonebridge Industries Inc., an equity group with a variety of holdings including automotive molder Mayco Plastics Inc.
Cryovac worker dies at S.C. film plant
DUNCAN, S.C. - An employee at a Sealed Air Corp. film plant in Simpsonville, S.C., died May 4 after he apparently was trapped in equipment and could not breathe, authorities said.
Ronald Magnani, 59, of Greenville, S.C., had been trying to cut loose some film stuck in the equipment, when part of the machine moved and he apparently became trapped, said Mike Ellis, chief deputy coroner for Greenville County. The plant is part of Sealed Air's Cryovac division, based in Duncan.
``We're looking into the situation to understand what did happen,'' said Ken Britton, regional human resources administrator for Cryovac. ``Our deepest sympathy goes out to the family.''
A spokesman for the South Carolina Occupational Safety and Health Administration said the agency is investigating.
Ex-coatings executive guilty of fraud
BOSTON - The former chief executive officer of defunct coatings manufacturer Advanced Deposition Technologies Inc. pleaded guilty May 11 to bank fraud.
Glenn Walters, 49, admitted in U.S. District Court in Boston that he created documents in December 2000 showing bogus orders totaling $575,000, as part of a scheme to increase the company's line of bank credit.
Walters faces a maximum sentence of 30 years in prison and a $1 million fine. He will be sentenced Aug. 19.
Publicly traded ADT of Taunton, Mass., collapsed when the fraud was discovered in 2001. ADT sold products and technology to apply metallic coatings to film and other surfaces.
Baxter cuts back at Arkansas facility
DEERFIELD, ILL. - Baxter International Inc. gradually may eliminate as many as 200 jobs at its Mountain Home, Ark., plant, one of its largest injection molding and medical device-making plants.
Baxter said it will eliminate 23 positions by the end of June, and may cut more over several years as it phases out obsolete products and transfers other work to a facility in Puerto Rico.
Local Baxter officials said they are optimistic that growth in new products and in potential contract manufacturing can offset job losses. The Mountain Home employs about 1,250.
Formosa explosion claims fifth victim
LIVINGSTON, N.J. - A fifth worker has died from injuries suffered in an April 23 explosion at Formosa Plastics Corp. USA's PVC plant in Illiopolis, Ill.
Randy Hancock, 50, died May 13, said Formosa spokesman Rob Thibault. Hancock had been badly burned in the accident. Hancock's wife, Linda, was one of four workers who died at the scene April 23.
As of May 13, Bradford Bradshaw remained in critical but stable condition with burn injuries and Chris Havener was in fair condition with a broken leg and other injuries.
Officials of Livington-based Formosa said the cause of the blast still is under investigation and they are working with government agencies to access the area where the blast originated. The company has declared force majeure on specialty PVC resins at the plant and has set no timetable to restart the site.