Injection molder Bocko Inc. has closed its doors in North Canton, Ohio, a little more than a year after a pair of managers tried to rescue the struggling firm.
Bocko co-owner Bill Allen said a lot of factors led to the closing, including ``the economy, China and the Pacific factor.'' He declined to elaborate on more specific causes.
Allen and Howard Galberach bought Bocko in mid-2003. Allen had been the firm's vice president of sales, while Galberach had served as vice president of operations. Both had previous plastics industry experience - Allen as owner of product distributor Service Packaging Corp. and Galberach with resin compounder and distributor PolyOne Corp.
At one point in February 2003, Bocko's previous owners notified state officials that it planned to close that April. Allen and Galberach prevented that from happening. At the time, Allen said the firm had prospects for new business.
Founded in 1986, Bocko primarily served the housewares market from a 100,000-square-foot, leased building. At its peak, the firm employed about 250. Its employee count in early 2003 was about 150.
The company closed in June. Bocko's machinery - including 30 injection molding machines with clamping forces of 250-1,150 tons - will be auctioned off by Stopol Inc. of Solon, Ohio. The auction will be conducted Aug. 3 at the Bocko site in North Canton.
Allen declined to specify how proceeds from the auction will be used. He added that he is unsure if he will remain in the industry.
``We're just trying to get things wrapped up,'' he said.