Siegel-Robert to sell molding operation
ST. LOUIS - Injection molder Siegel-Robert Inc. of St. Louis has put its custom molding operation up for sale as it works to divest some nonautomotive assets.
A sale would include the company's 131,000-square-foot plant in Elberton, Ga., which operates as Siegel-Robert Plastics.
Siegel-Robert officials had no further comment on the divestiture, which is being handled by Chicago-based investment bank Blaige & Co.
Blaige & Co. Chief Executive Officer Tom Blaige said Siegel-Robert is focusing on global growth, illustrated by its announcement last fall to open an automotive plant in Suzhou, China.
The Elberton plant, which makes rigid dispensers and active closures for packaging, has 36 injection presses with clamping forces of 55-1,100 tons. Its end markets include personal-care packaging, household products, medical and industrial.
The firm reported 2005 injection molding sales of $371 million, with seven plants in the United States and 2,500 workers.
CEP closing 1 Ohio plant, moving work
WEST ALEXANDRIA, OHIO - Automotive processor Creative Engineered Polymer Products LLC is closing a plant in West Alexandria, near Dayton, and moving the work to a plant in central Ohio, at Crestline.
CEP Products told state officials 68 workers will be laid off in the shutdown.
At just 31,000 square feet, the West Alexandria factory is much smaller than other CEP Products plants. The Crestline plant measures 173,000 square feet.
Also, the closing plant was narrowly focused on small-tonnage molding machines, running 17 presses with clamping forces of 125-700 tons. CEP Products has excess capacity in that segment, according to Bruce Fassett, vice president of sales and marketing.
The company plans to close the plant by May 31, Fassett said.
Creative Engineered Polymer Products, the former Carlisle Engineered Products, is based in Akron, Ohio.
Otto forms unit for large-tonnage work
CHARLOTTE, N.C. - Waste container maker Otto Environmental Systems LLC has formed a new unit to market its large-tonnage and extra-capacity capabilities.
The unit, International Contract Molding LLC, formed in October and expects to post 2006 sales of $70 million, according to Kenneth Budlong, its general manager.
``We have a dedicated staff so that we can give 100 percent focus and attention to our contract mold customers, period. That's one of our key concepts,'' Budlong said.
ICM's headquarters is in Charlotte, but it also will have use of an Otto facility in Eloy, Ariz. The two facilities are ISO 9001-certified and run presses with clamping forces up to 3,500 tons. Eloy also is certified by the National Sanitation Foundation. Budlong said ICM can use Otto facilities in 37 countries.
ICM's markets include materials handling, consumer products and automotive. It also offers turnkey project management, product design, process management, assembly and other secondary operations.
Otto, also based in Charlotte, has worldwide sales of $350 million and employs more than 2,000.
3 injection molders auction off assets
TORONTO - Competitive markets for CD and DVD boxes and trays have led to auctions of three injection molders' assets. Spokesmen for two of the firms confirmed their operations - one near Toronto the other in Olyphant, Pa. - went bankrupt.
Tri-Tec Industries Ltd.'s assets will be sold March 7 at the firm's Mississauga, Ontario, facility by Maynards Industries Ltd. of Toronto. Equipment includes three Netstal injection presses, two Engel presses, two Krauss-Maffei presses, robots, packagers and auxiliary equipment.
Maynards was scheduled to auction off assets of Dynamic Molding Inc. at its 78,000-square-foot plant in Olyphant on March 2. Equipment included 10 Krauss-Maffei presses and two Engels, robots, packaging machines and auxiliary equipment.
A related disc box and tray molder, Universal Molding Inc. of Gaffney, S.C., also had its assets sold at auction Feb. 28 by Maynards. The 114,000-square-foot operation included five Engel presses, two Krauss-Maffeis and six Sumitomo presses.