Two Ohio injection molders have a new owner, new names and a new lease on manufacturing life.
DAK Enterprises, owned by Daniel Keifer, purchased Lancaster Plastics Corp. and its sister company, Ohio Plastics Co. from Kraco Enterprises Inc.
The deal, for an undisclosed amount, was completed Dec. 29, said Jim Greenlee, general manager of the renamed DK Manufacturing Lancaster.
Ohio Plastics of Frazeysburg, Ohio, now goes by the name DK Manufacturing Frazeysburg.
Kraco Enterprises owner William Kraner is retiring from plastics, Greenlee said.
Kraner launched his plastics business with the purchase of Ohio Plastics in 1986. He added Lancaster in 1991 and used both sites - along with a third sister company, Central Ohio Plastics Corp. of Johnstown - to mold housewares as part of Kraco's Maidware Products Inc. In 1997, Kraco sold Maidware and moved Ohio Plastics, Lancaster Plastics and Central Ohio Plastics into molding auto parts.
The Johnstown plant closed three years ago, with business shifting to remaining Kraco plants. Both sites employ about 100.
Under DAK, the plants now are part of a growth strategy, building on the firm's relationship as a supplier to Honda Motor Co. Ltd. DAK is seeking government backing to support expansion plans.
``We're looking to add on here during the next year,'' Greenlee said.
The factories are Tier 2 suppliers to Honda, making lighting components, engine covers and interior trim. They also are in line to make parts for the next-generation Honda Civic.
The company will add about 22,000 square feet to the Lancaster plant in 2005. The firm plans to add six to 10 presses to the 12 already in place there, and 22 machines at Frazeysburg, Greenlee said.