Quadion Corp. purchases S&W Plastics
MINNEAPOLIS - Quadion Corp., which owns Minnesota Rubber and QMR Plastics, has bought S&W Plastics LLC, in a move to expand its medical business.
The privately held companies did not disclose terms, but the merger unites two relatively small Midwestern molders. QMR, based in River Falls, Wis., has annual sales of $22 million, and S&W, in Eden Prairie, Minn., does about $12.5 million a year, according to Plastics News sales rankings.
The acquisition, completed within the last month, will give QMR Class 100,000 clean rooms and more medical work, said marketing manager Bill Pederson. S&W declined to comment on the reason for the sale.
Minneapolis-based Quadion said its Minnesota Rubber and QMR divisions together have more than $100 million in sales and eight plants around the world. The company said S&W's clean room molding would complement Minnesota Rubber's expanding silicone surgical tool overmolding business.
Veka building Texas extrusion factory
FOMBELL, PA. - Profile extruder Veka Inc. of Fombell is constructing an extrusion facility in Terrell, Texas, its fifth site in North America.
Officials said production will begin by December on the greenfield plant. The first phase will include 100,000 square feet on 25 acres, Steve Dillon, Veka's marketing manager, said May 3 by telephone. It will have the capacity for 15 extrusion lines.
``We continue to grow on a continental basis with this being our fifth manufacturing facility in North America,'' said Walter Stucky, president of Veka USA, in a news release. ``This new facility will allow us to significantly speed delivery and reduce transportation costs to our Southern customers.''
Veka also will extrude fence, railing and deck components at the new site. It had extruded those components only in Youngstown, Ohio.
Veka is owned by Veka AG of Sendenhorst, Germany. The North American arm operates extrusion sites in Fombell; Reno, Nev.; Youngstown; and Edmonton, Alberta.
Equity firm, management to buy Thomson
THOMSON, GA. - A private equity fund has partnered with Thomson Plastics Inc.'s management team to buy the custom injection molder. Terms were not disclosed.
Founder Jerry Harrison continues as president of the Thomson-based company, which had 2004 sales of about $35 million.
Altus Capital Partners LP completed the transaction involving private investors in early April.
Thomson's 132,000-square-foot site employs 270 and operates 31 injection molding presses with clamping forces of 60-2,200 tons.
The firm uses gas-assisted technology and does subassembly. It makes parts for lawn and garden, industrial and automotive applications.
Russell Greenberg, Altus managing partner, said in a news release that the equity fund will work with Thomson managers to grow the company. Altus has offices in Westport, Conn., and Lincolnshire, Ill.
Viskase seeks options to remove debt
WILLOWBROOK, ILL. - Viskase Cos. Inc., a debt-beleaguered maker of plastic and cellulosic casings for meats and poultry, has retained an investment firm to explore a potential sale.
The Willowbrook-based packager said May 4 it has retained Harris Williams Advisors Inc. of Richmond, Va., to look into a possible company sale or consider other alternatives to lower debt or raise equity.
Viskase makes nylon and cellulosic processed-meat casings and polyester elastic netting for food packaging. Viskase has undergone considerable restructuring since 1998, closing plants and selling its shrink film business in 2000 to Bemis Co. Inc.
Viskase also entered Chapter 11 protection from creditors for a six-month period, emerging in April 2003 after restructuring debt payments.
The company recorded sales last year of $207.1 million and a profit of $25.3 million.
Viskase also announced May 4 that it would move its finishing operations from Kentland, Ind., to an unspecified facility in Mexico.
