Illinois gives Fenwal tax breaks, funding
LONG GROVE, ILL. - The state of Illinois has given a suburban Chicago company more than $5 million in incentives to keep it from leaving the state.
Fenwal Inc., which supplies blood collection and processing products, was scouting Wisconsin sites for its new headquarters, but chose a site in Long Grove thanks to the incentive package, according to a report on the Crain's Chicago Business Web site.
The company will get $4.9 million in income tax credits during the next 10 years and $243,000 in job training funds. In exchange, it agreed to create 40 full-time jobs and retain its 230 employees.
Fenwal will spend $25.4 million to lease and improve space at the new headquarters. It is scheduled to begin moving in August from its current site in Round Lake, Ill.
Nonwovens firm ADS buys Beckwith Bemis
St. ElzEar de Beauce, Quebec - ADS Inc., a producer of specialized nonwoven polymer products in St. Elzear de Beauce, has bought the operations of Sherbrooke, Quebec-based geomembrane maker Beckwith Bemis Inc.
Beckwith adds more than C$11 million (US$10.3 million) in annual sales to ADS, which is traded on the Toronto Stock Exchange. Beckwith makes products for water and sewer rehabilitation, the medical industry, exterior flooring coatings, roof membranes and specialized geomembranes.
``Beckwith Bemis complements our market offerings extremely well and will integrate easily into our current operations,'' said Guy Drouin, ADS president and chief executive officer, in a news release. ``We share common clients in the medical sector.''
Drouin said the acquisition boosts ADS's annual sales to C$65 million (US$60.7 million), bringing it closer to the C$100 million (US$93.5 million) goal that it aims to reach by the end of 2009.
Technik's capabilities grow into larger parts
HULL, ENGLAND - Thompson Technik invested in a new, larger rotational molding machine that expands its capabilities, helping it to win contracts worth £1 million (US$2 million).
Technik, the vehicle and industrial products unit of leading thermoformer Thompson Plastics Group of Hull, bought an 11.5-foot Italian Caccia shuttle rotomolding machine for its plant in Pontycymer, near Bridgend, Wales.
``This new machine is helping to secure employment at our Bridgend operation and is already opening up new opportunities for future business growth, especially in the underground drainage and access chamber market,'' said marketing manager Shaun Champion.
The firm invested £200,000 ($400,000) in the Caccia machine.
Technik makes automotive fuel tanks and interior trim, and industrial parts for refrigeration, air conditioning and other markets.