Huntsman, Chevron Phillips rejoin ACC
ARLINGTON, VA. - The decisions by resin producers Huntsman Corp. and Chevron Phillips Chemical Co. LLC to rejoin the American Chemistry Council means that for the first time in more than eight years all the major resin producers in the United States will be part of the same association.
``When they left ACC, they felt they weren't getting a return on their investment,'' said Jack Gerard, president and chief executive officer for the Arlington-based trade group. ``Their return is a signal that we have been successful in moving in the right direction and making things happen on their behalf.''
In particular, Gerard pointed to ACC's successful lobbying last year that opened up new areas of the United States to oil and natural gas exploration for the first time in 25 years.
ACC has added more than 20 member companies since Gerard took over in 2005, bringing membership to 133.
Huntsman is based in Salt Lake City, and Chevron Phillips is headquartered in The Woodlands, Texas.
Gibraltar agrees to acquire three firms
BUFFALO, N.Y. - Buffalo-based Gibraltar Industries Inc. has agreed to buy three businesses from Employee Ownership Holding Co. - a move that will strengthen Gibraltar's building products holdings in the western United States.
The businesses being acquired include injection molder M&N Plastics Inc. in Portland, Ore. The others are Northwest Manufacturing Co. in Fife, Wash., and Noll Manufacturing Co. of Stockton, Calif. - two firms that make sheet-metal roofing and heating, ventilating, and air conditioning products.
The three companies have a combined $60 million in annual sales and about 330 employees.
This is Gibraltar's 31st acquisition since 1995, said Ken Houseknecht, vice president of communications and investor relations, in a March 14 telephone interview.
``We're definitely an acquisition-oriented company - a growth-oriented company,'' Houseknecht said. ``It's something we've done, and will continue to do. We participate in large markets that are very fragmented.''
Houseknecht estimated the residential building products industry is about $500 billion annually, and that the commercial-industrial building products industry is $300 billion to $400 billion annually.
Gibraltar, a publicly traded company on Nasdaq, reported $1.3 billion in sales for 2006.
New boat spurs Four Winns expansion
CADILLAC, MICH. - Fiberglass boat maker Four Winns will invest $1.8 million to expand one of its plants to provide space for a larger model.
The Cadillac-based company, owned by Genmar Holdings Inc. of Minneapolis, is preparing to launch a new motorized cruiser - which will become its largest boat at more than 40 feet in length - and needs additional space, state officials said. The company expects to add another 80 jobs as part of its expansion. It now employs 753.
The state of Michigan is providing an $800,000 grant for infrastructure improvements, including a new sewer line and street work near Four Winns' site to support the expansion, with the city of Cadillac adding another $80,000, said economic development officials in a March 13 news release.
Four CTA workers hurt in fire at Ky. site
CORBIN, KY. - Four CTA Acoustics Inc. employees suffered minor injuries in a fire at one of its Corbin manufacturing facilities March 14.
All four were treated at a hospital, and returned to work the same day, the company said in a news release. Only one of the injuries was directly related to the fire. Work resumed within a few hours.
The cause of the fire is under investigation.
CTA, a Madison Heights, Mich., auto supplier, makes its own raw material for sound control, using both fiberglass and resin.
An explosion in Corbin in 2003, linked to a build-up of dust in a materials mixing area, killed seven workers. Corbin rebuilt its operation at the same location and opened the new facility in 2004. The fire was at an older building at the complex.