Bankrupt Sidler auctioning off assets
LAOTTO, IND. - Sidler Inc., a U.S. subsidiary of a German automotive parts company, will auction off the machinery from its Indiana and Michigan injection molding facilities April 27.
Sidler voluntarily filed for Chapter 11 protection from creditors Nov. 29 in U.S. Bankruptcy Court in Detroit. The company, whose parent is Sidler GmbH of Tubingen, Germany, makes interior and exterior lighting components for automobiles.
Company officials in Michigan did not return calls.
Branford Group, an auctioneer based in Branford, Conn., will be on-site in Laotto to dispose of assets housed in the 100,000-square-foot facility, as well as assets from a same-size plant in Madison Heights, Mich. The auction will be webcast as well.
Among the items to be auctioned are five Krauss-Maffei presses of 220-715 tons.
Erie takes full control of Hungary plant
CORRY, PA. - Erie Plastics Co. is continuing its growth in Eastern Europe and has assumed stand-alone control of its plant in Székesfehérvar, Hungary, as part of its expansion.
The Corry injection molder had contracted labor in Hungary from Loranger Ipari Kft. but, as of April 20, has ended its four-year contract.
Erie Plastics now has 45 employees in Hungary, up from 20 just a year ago, and has doubled its capacity to turn out dispensing closures for bottled water at the site. Erie also recently won a contract to make plastic components for the personal-care market in Europe from the site.
Loranger Ipari developed the industrial park that houses the Erie facility in Hungary and will continue to rent the site to the molder.
Erie currently operates eight Husky Hylectric 300-ton injection molding presses at Székesfehérvar.
PN notes adjustments on pricing chart
AKRON, OHIO - Plastics News is adjusting prices for unsaturated polyester and vinyl ester resins on this week's resin pricing chart.
Average selling prices for both materials have increased significantly since early 2004. Industry sources said that in both cases, the increases were caused by similar rises in prices for natural gas and other feedstocks such as glycols.
Prices for the epoxy component used in vinyl ester also have climbed, sources said.
The increases equal almost 60 percent on general-purpose and isophthalic grades of unsaturated polyester, and almost 35 percent on specialty grades such as those based on bisphenol-A. In vinyl ester, the increases equal almost 40 percent on anti-corrosion and anti-heat/corrosion grades.
Plastics News is based in Akron.
Cabarrus to add machinery at N.C. site
CONCORD, N.C. - Cabarrus Plastics Inc. is expanding to add larger-tonnage machinery at its Concord facility.
The work will add 60,000 square feet for manufacturing and warehouse space, with 15,000 square feet dedicated to new equipment, according to an April 6 news release from contractor CM Black Construction Co. Inc. of Concord.
The addition will boost total manufacturing and warehouse space to 150,000 square feet and should be complete by July, the release said.
Cabarrus injection molds parts for recreational vehicles.
Glendale shutters Ontario molding unit
OAKVILLE, ONTARIO - Glendale International Corp. has shut down its plastics operation, Quality Plastics of Oakville.
The custom injection molding and extrusion division did not meet financial performance targets and was a very small part of Glendale's business, according to Glendale spokesman Trevor Heisler. The unit closed effective March 30. Its origin dates to 1960.
President Robb Edwards said Quality employed about 28. Its molding and extrusion work all was for outside customers, Edwards said by telephone.
The operation's five tubing and profile extrusion lines and seven injection presses have been sold to an undisclosed company. The firm mainly processed engineering resins.