Ala. processing plant wins tax breaks
AMSTERDAM, N.Y. - Plastics processor CV Holdings LLC of Amsterdam plans to expand its Auburn, Ala., plant, according to the local development authority.
Four of CV Holdings' operating companies in the Auburn facility are eligible to receive tax abatements over 10 years, according to an official with the Auburn Economic Development Department. The projects should create an estimated 83 jobs. Abatements will help cover the cost of new equipment ordered for the expansion.
Capital Plastic Products LLC qualifies for an $813,200 abatement. Capital Insulated Products Inc., an injection molder of insulated drink and children's cups, can get an abatement of $444,600. Capital Cups Inc., a cup injection molder specializing in in-mold labeling, was approved for an abatement totaling $1.1 million. CSP Technologies Inc., a producer of specialty injection molded and extruded film packaging, particularly packaging that uses desiccants, qualifies for $813,200 in abatements.
W.L. Plastics acquires Texas operation
Casper, Wyo. - Casper-based W.L. Plastics Corp. acquired pipe maker Earth-Core Pipe Systems in Bowie, Texas, in a deal that closed April 7. Terms were not disclosed.
``This is an opportunity for us to extend our geographical reach and will enable us to serve some of our existing customers better,'' W.L. director Mike Dahl said by phone April 7 .
W.L., which specializes in large-diameter, high-pressure polyethylene pipe, is likely to expand the newly acquired, 20,000-square-foot Texas plant. Dahl said W.L. will retain the employees and management team. Earth-Core President Monty Fisher will serve as W.L.'s vice president of business development.
According to its Web site, Earth-Core makes PE pipe in diameters of one-half inch to 18 inches.
The Bowie plant is W.L.'s fourth. The company also manufactures pipe in Casper and Gillette, Wyo., and in Cedar City, Utah.
Earth-Core was founded in 2003. Dahl said the facility may be expanded but doesn't require technological upgrades.
Management buys Buss from Coperion
PRATTELN, SWITZERLAND - Buss AG, which makes the Buss kneader in Pratteln, is an independent company once again, after a management buyout backed by Swiss investment company Fabrel Lotos of Zurich.
Buss management bought the company from Coperion Group of Stuttgart, Germany. Buss employs 200 and generates annual sales of about 60 million Swiss francs ($46 million).
The Buss kneader was invented more than 50 years ago. In plastics, the kneaders run at PVC compounding plants, wire- and cable-coating operations and powder-coating factories.
The Buss kneader operation has been under Coperion ownership since 2001. The deal happened Jan. 1, but Buss did not announce the news until April 10.
Hans-Ulrich von Weissenfluh, the new board chairman, said Buss will be stronger as an independent company. ``Buss AG can now concentrate purposefully and unrestrictedly on its specialty markets in the plastics, chemicals and food industries,'' he said.
Pine Hill Plastics recovers after tornado
MCMINNVILLE, TENN. - Pine Hill Plastics Inc. plans to resume production the week of April 17 after overcoming tornado damage.
The McMinnville custom injection molder was hit by a tornado at about 5 p.m. April 7, according to President Lonnie Capshaw. Four people were in the plant for the second production shift, but they were not hurt because ``they knew what to do,'' Capshaw said.
Capshaw said most of the damage occurred in the firm's office area at one end of the building. In an April 10 telephone interview, Capshaw said insurance adjusters were on-site determining the extent of damage. The Pine Hill molding area was not affected much by the twister, and workers were attempting to resume natural gas service. The operation's electric power and water were serviceable, he said.
Pine Hill is a diverse custom molder supplying parts to appliance, marine, recreation, telecommunications and other markets. On its Web site it lists 26 presses with clamping forces of 30-800 tons at the McMinnville operation.