Printpack acquires thermoformer PBM
ATLANTA - Flexible packaging firm Printpack Inc. has acquired thermoformer PBM Plastics Inc. of Newport News, Va.
Terms of the Aug. 17 deal were not disclosed.
The buy gives Atlanta-based Printpack additional capability in its Rampart division, which makes high-barrier, coextruded and thermoformed containers. PBM Plastics gives that unit melt-phase forming technology, with one facility in Newport News and 60 employees.
PBM Plastics President Adam Burke said by telephone Aug. 25 that parent company PBM Products LLC still will sell melt-phase forming liners to retail customers through its line of baby-bottle liners. PBM and Printpack have had a relationship because PBM bought plastic from Printpack.
Printpack operates thermoforming plants in Williamsburg and Newport News, Va. Printpack acquired the Newport News site from Amcor Ltd. in 2003. According to Plastics News' thermoformer ranking, Printpack's two plants recorded $28 million in sales for the fiscal year ended June 30, 2004.
Selling its plastics unit will allow PBM Products of Gordonsville, Va., to focus on its core business of pediatric nutrition, said Paul Manning, president and chief executive officer.
PW Eagle selling stake in W.L. Plastics
EUGENE, ORE. - PW Eagle Inc., a PVC and high density polyethylene pipe, tubing and fittings maker in Eugene, plans to sell its stake in W.L. Plastics LLC.
W.L. Plastics, which is based in Gillette, Wyo., manufactures HDPE pipe. PW bought a 23 percent ownership stake from W.L. founders Mark Wason and Steve Burns in 2003.
When PW subsidiary USPoly Co. purchased the business assets of Uponor Aldyl Co. in September 2004, PW lost the ability to exercise any control over W.L. because the companies became direct competitors. Consequently, PW has been distancing itself from W.L.
PW said in a news release that it will not disclose any additional information until a sale is finalized.
Lear closing Mich. site, laying off 130
SOUTHFIELD, MICH. - Southfield-based Lear Corp. will close its Marshall, Mich., plant by the end of the year, said spokeswoman Andrea Puchalsky via email.
``Two reasons why Marshall was selected [as opposed to other facilities] - through no fault of its own, that plant lost a large chunk of business last year when the customer re-sourced it to a competitor. Second, from a logistical standpoint, closing Marshall made the most sense because of the small number of employees and amount of work. It is less costly and disruptive to the customer to move the work done by 130 employees to other locations as opposed to moving two or three times as much work to utilize available space in Marshall,'' Puchalsky said.
The 277,000-square-foot facility produced injection molded door panels and hard trim. It has a workforce of 130, all of whom will be laid off. ``Laid-off employees will be eligible for consideration for open positions at other Lear facilities,'' Puchalsky added.
This closing is part of Lear's plan that was announced in June to restructure and move production overseas. The closures could affect up to 20 Lear facilities. Puchalsky could not discuss what other Lear sites are on the chopping block.
Lear had sales of $17 billion in 2004 and employs 110,000 in 34 countries.
ACP plans molding facility in Arkansas
NEWPORT, ARK. - America's Choice Products LLC, a company planning to injection mold shoe products, is setting up operations in Arkansas.
The company is moving into a 100,000-square-foot space at the American Lantern building in Newport, according to a news release from the Arkansas Department of Development. It said that America's Choice plans to hire 70 workers by the end of the year and expects to boost that number to 425 by 2010.
ACP will sell products to retail outlets such as Wal-Mart, L.L. Bean, Implus and Dr. Scholl's of Europe.
America's Choice is a partially owned subsidiary of Newgrange Group LLC of North Smithfield, R.I. Newgrange is expanding its product line to include pet toys, kitchen supplies and athletic equipment.
