Korea's Sejin joins Ala. industrial park
DADEVILLE, ALA. - Dadeville is getting its second auto supplier, with injection molder Sejin Co. Ltd. ready to set up shop in the same industrial park that will house fellow South Korean company Kwangsung Co. Ltd.
Sejin Alabama will injection mold interior and exterior parts including spoilers, center consoles and rear quarter windows for automakers Hyundai Motor Co. and Kia Motors Corp., said Don McClellan, director of the Lake Martin Area Economic Development Alliance.
Sejin, based in Kyeongju, South Korea, will launch production in early 2008 with 130 jobs in its 102,000-square-foot site, making parts for Hyundai's assembly plant in Montgomery, Ala. It will add 70 workers within a year, McClellan said. Once production launches for Kia's new plant - now under construction just across the state line in West Point, Ga. - Sejin will add as many as 100 jobs, McClellan said.
The Lake Martin Area group, which covers two counties in Alabama, has seen increased interest from Korean auto suppliers, especially since Kia began building its plant.
Kwangsung, based in Dangjin, does blow molding and injection molding.
Pregis buys packaging firm Petroflax
DEERFIELD, ILL. - Packaging maker Pregis Corp. of Deerfield has strengthened its position in Europe with the acquisition of protective packaging firm Petroflax SA in Romania.
Pregis agreed to pay $12 million for the foam manufacturer, which was privately held by Mirto Trading Ltd., Pro Logistics srl, and individuals Birliba Mihai, Olariu Angela, Mitrea Florin, according to a form filed with the Securities and Exchange Commission.
``Petroflax has a leading position in foam in Europe,'' Pregis spokesman Tim Cunningham said in a July 19 telephone interview. ``We have a strong presence in Europe.''
He said the deal calls for ownership members eventually being phased out, but other managers will stay in place.
Because the two companies already had a buying and selling relationship, Cunningham said Petroflax will be integrated easily into Pregis. Petroflax, based in Piatra Neamt, Romania, reported 2006 sales of roughly $9 million and 135 employees.
Pregis makes flexible films and polyethylene foam sheet.
Rocand opens 2nd Monterrey facility
SAINTE-FOY, QUEBEC - Canadian mold maker Rocand Industries Inc. has opened a second facility in Monterrey, Mexico, where it will design and produce molds for injection and extrusion blow molding.
Rocand, based in Sainte-Foy, expects to work with customers already in Mexico that are molding parts for the electrical, consumer goods, medical, aerospace and transportation industries.
The Monterrey site also will be able to provide support for new molds, and repair and maintain molds already in production, Rocand President Andre Rochette said in a news release.
Tapex sells BOPP mesh unit to Conwed
MINNEAPOLIS - Conwed Plastics Inc. is expanding its stake in the Australian market, buying the biaxially oriented polypropylene mesh business unit of Tapex Ltd. of Sydney, Australia.
Conwed, which does business as Conwed Global Netting Solutions, announced July 10 it had acquired what was known as Tapex's Square One Net business unit. Terms were not disclosed.
``The Tapex acquisition allows us to expand our netting capabilities in the Asia-Pacific market,'' said Mark Lewry, Conwed president and chief executive officer.
Conwed's distributor in Australia and New Zealand is Ross Hanna Australia of Melbourne.
This is the second recent international purchase for Conwed, which bought Etiquetas y Empaques SA de CV of Guadalajara, Mexico, in February. Conwed has acquired seven companies in the past four years.
Conwed, based in Minneapolis, manufactures a line of high-performance plastic netting used in packaging for consumer goods, building materials and other markets. It has five plants in North America and Europe.