DSM plans 2 engineering resin plants
HEERLEN, NETHERLANDS - DSM NV will spend 100 million euros ($127 million) to build two engineering resin plants.
Both plants will be at DSM's complex in Geleen, Netherlands. One will produce Stanyl-brand nylon 4/6, the other Stamylan-brand ultrahigh-molecular-weight polyethylene. The plants will open in 2008 and effectively will double DSM's capacity for those materials, the Heerlen firm said in a Sept. 8 news release.
The new Stanyl plant will be aided by DSM's ability to make diaminobutane, a key feedstock, officials said. The firm is increasing diaminobutane production via a streamlining in Geleen.
Stanyl is used in auto parts, cell phones, computers and personal electronics and is seeing rapid growth in liquid-crystal-display pitch connectors, light-emitting-diode reflector packages and gears. Stamylan is used for wear-resistant components in industrial parts, bulk materials handling and sports equipment.
DSM posted total sales of $9.7 billion in 2005. The firm's engineering plastics business is based in Evansville, Ind.
Solvay Indupa starting major expansion
BUENOS AIRES, ARGENTINA - Solvay Indupa SAIC of Buenos Aires has kicked off a US$150 million investment plan aimed at expanding and modernizing its PVC, caustic soda and chlorine production lines in Santo Andre, Brazil.
The expansion is expected to begin operating in late 2008.
Production capacity for PVC products will increase from 551 million pounds to 661 million pounds per year, while caustic soda will go from 264 million pounds to 374 million pounds and chlorine from 233 million pounds to 330 million.
Solvay Indupa also produces PVC resins in Bah¡a Blanca, Argentina, with annual production of roughly 530 million pounds.
Auction to include press, 10 extruders
CHESTERFIELD, MICH. - Extrusion lines, a vertical injection molding press and other auxiliary equipment from a Chesterfield extruder will be up for sale at a Sept. 26 auction.
Automotive supplier Plastic Trim LLC of Bingham Farms, Mich., purchased the former Unibond Extrusions LLC earlier this year and now plans to sell off duplicate equipment. Branford, Conn.-based Branford Group will conduct the auction.
The sale includes more than 10 extrusion lines - some of them less than 5 years old - as well as downstream equipment, toolroom equipment compressors, a chiller, cooling tower, forklifts and office furniture.
Plastic Trim injection molds and extrudes exterior, including body side moldings and bumper fascia.
Solar Corp.'s assets to be sold Oct. 4
LIBERTYVILLE, ILL. - Assets of injection molder and thermoformer Solar Corp. of Libertyville will be offered at auction Oct. 4.
The automotive supplier, founded in 1946, was purchased by private investment firm Wynnchurch Capital Ltd. of Lake Forest, Ill., in February 2005. Workers were told in June that the plant would close. The company notified the state June 13 that the plant would close, affecting 303 workers.
The auction was set by a secured creditor and will be handled on-site and via Web cast by Hillco Industrial LLC of Farmington Hills, Mich. The auction will include 23 injection molding machines with clamping forces up to 2,200 tons.
Milacron's stock could face delisting
CINCINNATI - Milacron Inc.'s stock price is below $1 a share, and now the plastics machinery maker is facing a potential delisting by the New York Stock Exchange.
NYSE on Aug. 22 notified Milacron that its stock must trade at a minimum average closing price of $1 a share during any consecutive 30-day trading period.
Under NYSE rules, Cincinnati-based Milacron has six months to return to compliance. In an Aug. 25 news release, officials said Milacron is ``pursuing various solutions'' including completing its restructuring this year, which is expected to generate $15 million in annual savings ``and help Milacron achieve its objective of returning to profitability in 2007.''
Failure to get back into compliance does not mean a company automatically is delisted, according to an NYSE spokesman. After the six-month period, company officials can submit plans showing how they plan to get the stock price up, he said.