Coroplast acquires Spartech business
CLAYTON, MO. - Clayton-based Spartech Corp. has sold its corrugated sheet business to Coroplast Inc. of Dallas for about $6 million.
Spartech's corrugated sheet facility in Cornwall, Ontario, was closed Sept. 2. The company's four extrusion lines will be sent to Coroplast's three manufacturing locations in Canada and the United States.
``What this does is give us additional equipment and increases capacity during the peak seasons,'' said Coroplast President and Chief Financial Officer Ken Vandervelde by phone.
The 48 employees who worked in Cornwall will not be relocated.
Spartech Chief Executive Officer George Abd said the $6 million from the sale will be used to pay down bank debt accrued from the purchase of new machinery.
``We're in the process of installing five sheet production lines,'' Abd said Sept. 6.
The Cornwall site was 64,000 square feet and had annual sales of about $9 million. The building remains leased to Spartech until 2007, according to Abd. Other Spartech sites are being considered for sale and closure, Abd said.
More information was to be disclosed during Spartech's conference call Sept. 8 with financial analysts.
Coroplast is a division of Great Pacific Enterprises Inc., which is a U.S. subsidiary of Vancouver, British Columbia-based Jim Pattison Group.
Trend opens facilities in China, India
CHINO, CALIF. - Trend Technologies LLC of Chino is establishing facilities in China and India to supply major contract manufacturers.
A leased, 70,000-square-foot plant in Suzhou is making dies, and plans call for the site to begin metal stamping in October and plastic injection molding in 2006. Trend Technologies (Suzhou) Co. Ltd. expects to employ about 50 initially at the wholly owned foreign enterprise.
Some big dies from the Suzhou facility are intended for export, said Earl Payton, president and chief executive officer of Trend Technologies. Trend has arranged for land to build its own facility in a few years.
In Chennai, India, the firm designs tools and plans to add manufacturing capabilities.
``We want to learn how to do business in India,'' Payton said in an Aug. 29 interview.
The business in India operates as Trend Technologies (Chennai) Co. Ltd. Elsewhere in Asia, Trend has three facilities in Singapore and one in Johor Bahru, Malaysia.
In all, Trend Technologies employs about 2,400 and projects 2005 sales of $200 million. Other Trend plants are located in Chino; Elk Grove Village, Ill.; Guadalajara, Mexico; and Mullingar, Ireland.
Calmar purchases Microspray Delta
CITY OF INDUSTRY, CALIF. - Saint-Gobain Calmar Inc. of City of Industry has acquired injection molder Microspray Delta SpA of Milan, Italy, in a deal that makes Calmar the second-largest European producer of pumps for the fragrance industry, officials said.
The transaction, announced Sept. 2, gives Calmar three injection molding plants in Europe, with one plant each in Barcelona, Spain; Hemer, Germany; and Milan, said Bill Seiberlich, communications manager for the Valley Forge, Pa.-based holding company Saint-Gobain Corp.
The Marelli family founded Microspray in 1948 as a mold designer and manufacturer. In 1987, Microspray began manufacturing pumps, and developed and patented a pre-compression fine-mist micropump, known as the Delta, according to Microspray Delta's Web site. Microspray was acquired in 2003 by Paladin Capital Partners SpA, an Italian investment fund.
The company's plant near Milan now houses more than 20 injection molding presses, a tooling department and 30 assembly and pump-customizing machines. Saint-Gobain Calmar employs 70 and recorded 2004 sales of more than 16 million euros ($20 million).
The purchase gives the firm more than 900 employees in Europe, officials said.