Relocation gets MTP tax break, grant
MIDDLETOWN, OHIO - In a $5 million project, MTP Inc. of Middletown will relocate and expand its vinyl siding operation.
MTP makes Foundry-brand cedar-style vinyl siding shakes and shingles. It is owned by Tapco International Corp. of Plymouth, Mich.
According to the Ohio Tax Credit Authority, MTP was awarded a 50 percent tax credit for a six-year term to relocate and expand. MTP plans to move to a 210,000-square-foot building in Middletown for its manufacturing, headquarters, distribution, and research and development.
The state also provided a $20,000 Ohio Investment in Training Program grant. MTP plans to create 36 jobs during three years and maintain 68 current positions.
Continental pays Constar in patent suit
PHILADELPHIA - Constar International Inc. received $25.1 million in a settlement from Continental PET Technologies Inc. for a 5-year-old patent-infringement lawsuit, company officials said.
Philadelphia-based Constar had alleged that Continental PET, a former unit of Toledo, Ohio-based Owens-Illinois Inc., had violated Constar patents on Oxbar oxygen-barrier technology for PET containers. The suit, filed in U.S. District Court in Wilmington, Del., was settled Nov. 1.
Oxbar blends nylon 6 resin with a metal catalyst to increase product shelf life.
Continental PET recently was sold to Graham Packaging Co. LP of York, Pa., in a larger deal for most of O-I's blow molding assets. Graham is not affected by the settlement, a spokesman said.
Both O-I and Continental PET have been granted global licenses to use Oxbar with multilayer applications, Constar said. Chevron Phillips Chemical Co. LP of Houston also was granted a license, but not for rigid PET containers. Chevron Phillips also has settled patent litigation with Constar, Constar officials said.
Constar President and Chief Executive Officer Michael Hoffman said his firm believes other competitors are infringing on Oxbar technology. ``We hope that this settlement will motivate them to negotiate for a license,'' he said in a news release.
Sigma ups blown stretch film capacity
LYNDHURST, N.J. - Sigma Plastics Corp. is adding a new blown film line at its Shelbyville, Ky., plant, boosting capacity to produce hand-wrapped stretch film.
The Lyndhurst firm has made the 265,000-square-foot Kentucky plant a center for its stretch film production. The new line will allow the plant to make 100 million pounds of stretch film a year, said Sigma Chairman and Chief Executive Officer Alfred Teo.
The monolayer extrusion line from Battenfeld Gloucester will begin operating by mid-2005. Teo did not disclose the investment. The line will add 15 million pounds of stretch film capacity at Shelbyville, giving the plant three blown film lines and two cast lines, Teo said in a Nov. 3 telephone interview.
The plant makes hand- and machine-wrapped stretch film and about 20 million pounds of film for trash-can liners, he said.
Meantime, Sigma is close to opening a plant in Riverside, Calif., that will house five stretch film lines. The first line is to be installed by the beginning of 2005, with all five lines scheduled to be running by the third quarter, Teo said. The plant will hold all of Sigma's stretch film lines on the West Coast.
Sigma Plastics, with $935 million in film and sheet sales last year, hopes to break the $1 billion mark in 2005, Teo said.
BP buys Solvay's shares of PE ventures
BRUSSELS, BELGIUM - Solvay SA of Brussels is selling its share of the BP Solvay Polyethylene joint ventures to its partner, British Petroleum plc of London.
The deal is set to close in early 2005. No price was disclosed.
Solvay currently owns 51 percent of BP Solvay Polyethylene North America and 50 percent of BP Solvay Polyethylene Europe. The firm is making the move to emphasize specialty polymers - ``businesses where we have a clear competitive advantage,'' Alois Michelsen, Solvay executive committee chairman, said in a Nov. 3 news release.
The ventures, with combined sales of about $2 billion, were formed in 2001. The North American arm produces almost 2 billion pounds of high density PE in Deer Park, Texas; the European segment includes HDPE plants in Scotland, France and Italy.
The ventures were formed at the same time that Solvay exchanged its North American and European polypropylene units for BP's engineering polymers business.