Sabert slates $19 million Ky. facility
SAYREVILLE, N.J. - Sabert Corp. of Sayreville plans to spend $19 million to construct a Kentucky facility - its fourth - to thermoform and distribute plastic serviceware.
The company expects to begin building the 200,000-square-foot plant in Hillview, Ky., before year's end and be ``up and running by this time next year,'' said Gary Ziznewski, Sabert chief financial officer. Operations would employ 96.
Sabert intends to purchase 75.28 acres from Salt River Electric, an energy cooperative based in Bardstown, Ky. In late September, the Kentucky economic development cabinet gave preliminary approval for Sabert to receive a total of $2 million in tax incentives for up to 10 years.
A pending $1 million community development block grant through the governor's office of local government would fund construction of a rail spur.
Bullitt County Economic Development Authority in Shepherdsville, Ky., assisted in the discussions with Sabert.
Equity firm acquires Infiltrator Systems
PHILADELPHIA - Philadelphia-based equity firm Graham Partners Inc. acquired Infiltrator Systems Inc. in a deal both parties anticipate will lead to new and expanded product lines and overall growth for Infiltrator.
Infiltrator, headquartered in Old Saybrook, Conn., touts itself as the world's largest producer of plastic waste-water management systems for the septic leach-field and storm-water markets.
Prior to the buyout, privately owned Infiltrator's primary shareholder was company founder and former President Jim Nichols.
Both Graham and Infiltrator officials said there is not likely to be any visible changes to the manufacturing operations.
Infiltrator has an 80 percent market share worldwide in the business of plastic leach-field chambers. The company employs about 500 with injection molding facilities in Winchester, Ky., and Ogden, Utah.
The Infiltrator deal represents Graham's third buyout in a month. Graham also recently purchased synthetic cork maker Supreme Corq Inc. in Kent, Wash., and Santa Ana, Calif.-based Line-X Franchise Development Corp.
Alcoa closing La. site, laying off 100
CHICAGO - Chicago-based Alcoa Closure Systems International will close an injection molding plant in Shreveport, La., by the end of 2006, laying off nearly 100 workers, and will consolidate the equipment into Kilgore, Texas, according to spokesman Mike Cooper. Kilgore will accommodate that equipment through an $8.2 million expansion that will boost the facility's footprint from 120,000 square feet to 140,000 square feet. CSI currently employs 127 in Kilgore.
``This has been a very difficult decision, but it is impossible to continue operations as they exist today at two locations,'' said Jim Woodruff, CSI's operations manager, in an Oct. 6 news release. ``We have ample lead time to work on important issues with our employees, our customers and the community to ensure a smooth transition.''
Southern Plastics Inc. built the Shreveport site in 1967 to make bottle and jar caps for the food and beverage industry, according to CSI officials. Southern Plastics expanded operations to Kilgore in 1985; CSI acquired the company in 2000.
Screen Tech buys Acromark, merges units
TORRINGTON, CONN. - In a deal involving two companies that make decorating and assembly equipment for plastics, Screen Tech Inc. has purchased Acromark Industries Inc., and the combined company will move to a new, 45,000-square-foot factory in Torrington.
The deal closed in September. Terms were not disclosed.
Screen Tech, based in Oakville, Conn., makes custom-built, high-speed machinery for screen printing and hot stamping for the plastics molding, cosmetics and packaging industries. Acromark of Berkeley Heights, N.J., builds hot-stamping and pad-printing equipment and laser etching lines.
Vincent Lindgren, former vice president of Acromark, is now sales manager for the combined operations. He said the two companies already shared a number of sales representatives and customers.