Resin costs prompt Amcor price increase
MELBOURNE, AUSTRALIA - Amcor Ltd., of Melbourne, will hit its customers with a price hike to recoup high resin costs and protect its flexibles and PET businesses.
Ken MacKenzie, Amcor managing director, said the packaging industry was not able to absorb cost increases.
``This is the third wave of cost increases over the past 12 months and it will be imperative that costs are fully recovered in a timely fashion. Amcor will continue to be a leader in ensuring increasing costs are passed through to our customers,'' he said.
MacKenzie said businesses were ``well-prepared'' for the first round of price hikes.
MacKenzie flagged the possibility of further closures if Amcor's businesses did not perform. PET plants in Canada, Turkey and Poland already have fallen victim to Amcor's ``fix or close'' regime.
``The key element of our execution focus is the portfolio review. This is progressing well; however, repositioning and growth of our attractive segments and the fix, sell, close agenda for our less attractive segments will take time to implement,'' he said.
MacKenzie said Amcor had identified businesses that could be sold to raise between A$500 million and A$1 billion if they could not be improved quickly.
Owens Corning sets date to open center
TOLEDO, OHIO - Owens Corning is showcasing its composites for the recreational vehicle industry with a new science and technology center that will open in January in Elkhart, Ind.
Elkhart is the center of RV manufacturing in North America, and Toledo-based Owens Corning has been boosting its presence in the industry through its Fabwel division.
The 16,000-square-foot facility in Elkhart will provide experts on the company's composites technology, testing facilities at an on-site laboratory, and prototyping and material qualification information to help boost new product development.
Fabwel also has access to RV industry manufacturers on the West Coast through its acquisition of molder Wolverine Fabricating Inc. of Riverside, Calif., earlier this year. The division's products include RV exterior walls, floors and doors.
Plastics center gets van, funds donations
LEOMINSTER, MASS. - The National Plastics Center received a donation in equipment and funds from the Society of Plastics Engineers Inc.'s Thermoforming Division.
The nonprofit plastics academy in Leominster received a new van for its PlastiVan program, which travels throughout the United States teaching students, educators and the public about plastics. The donation also included new thermoforming equipment for each of the program's four PlastiVans, $10,000 in matching funds for Thermoforming Division members and brand-new computers for the center's outreach department.
``Steve Murrill of Profile Plastics deserves much of the credit for being the original champion behind this donation effort to the NPC and their PlastiVan program,'' said Roger Kipp, SPE Thermoforming Division chair and the vice president of McClarin Plastics Inc. in Hanover, Pa.
Profile Plastics is based in Lake Bluff, Ill. For more information on the National Plastics Center's program, visit www.plasticsmuse um.org.
Trex cancels effort to relocate plant
WINCHESTER, VA. - Winchester-based composite decking manufacturer Trex Co. Inc. will not relocate its corporate headquarters to Dulles, Va., as was announced earlier this year.
Trex spokeswoman Maureen Murray said Trex officials declined to explain the change, saying only that when new management took over the company, the team decided to keep its central offices in Winchester.
* Apax Partners LP, a New York-based private equity firm, announced Nov. 28 that it would buy a majority stake in West Chester, Ohio-based Contech Construction Products Inc. Contech manufactures and distributes specialty construction products, including large-diameter PVC pipe. Apax officials said the deal is scheduled to close in January.