Vinyl Institute chief Tim Burns retiring
ARLINGTON, VA. - Tim Burns, president and chief executive officer of the Vinyl Institute the past eight years, will retire at year's end. He will continue to guide the Arlington-based trade association during the search for his successor.
Ervin Schroeder, VI chairman and vice president of Shintech Corp. in Houston, said Burns helped the association expand its efforts in advocacy and communications, particularly in ``new and evolving areas such as green building and sustainability.''
``Our new program of outreach to our customer chain and other key audiences is showing signs of being highly effective,'' Schroeder said in a news release.
Burns is retiring after a 35-year career in federal government relations and lobbying, much of it in the plastics and chemical industries. He spent 18 years with the Chemical Manufacturers Association, the predecessor organization to the American Chemistry Council.
Burns joined VI in March 1999.
Waddington gains Citicorp as investor
COVINGTON, KY. - Plastic cutlery and dinnerware maker Waddington North America Inc. of Covington has new investors, with Citicorp Venture Capital of New York buying a majority share.
Private equity firm Norwest Equity Partners of Minneapolis and members of Waddington's management also participated in the buyout from Code Hennessy & Simmons LLC of Chicago.
The transaction closed Aug. 28, officials said in an Aug. 29 telephone interview.
``Our intention is to continue to grow the business,'' said Joseph Levy, managing partner with Citicorp Venture Capital.
Mike Evans, Waddington's chief executive officer, said in a news release that the firm's goal is to grow internally and via acquisition. Evans did not immediately return a call seeking comment.
Levy formerly was with First Atlantic Capital Ltd. of New York, and was involved in First Atlantic's investment in Berry Plastics Corp. of Evansville, Ind. He joined Citicorp Venture Capital in March.
Petoskey opens new corporate office
PETOSKEY, MICH. - Petoskey Plastics Inc. has invested $1.5 million in its new corporate office.
The company relocated its offices from its plant in Petoskey to a renovated building downtown. The move was completed Aug. 30.
The 11,000-square-foot space houses 24 employees and executives and includes marketing, sales, human resources and accounting operations.
The 2,000 square feet of space that formerly housed the corporate offices at the plant will be used instead for engineering, quality control and warehousing.
The company produces protective film used in the auto industry to cover interior and exterior parts and keep them clean during manufacturing and shipping. It also makes consumer film and bags.
It recently opened its third plant, in Hartford City, Ind., which joins sites in Petoskey and Morristown, Tenn.
Toyota Boshoku to open Miss. facility
ERLANGER, KY. - Toyota Boshoku America Inc. will open a new 500-employee plant in Mississippi to mold door panels and manufacture other interior parts for Toyota Motor Corp.'s new assembly plant now under construction in Blue Springs, Miss.
Toyota Boshoku America, the Erlanger-based U.S. subsidiary of Toyota Boshoku Corp. of Kariya City, Japan, will build its 341,000-square-foot facility near Tupelo, Miss., in Itawamba County. Officials did not release the expected cost of the plant.
The site is set to open in 2010 and also will produce seats and carpeting for Toyota's Highlander sport utility vehicle.
Toyota Boshoku molds interior and exterior parts under its own name in North America and through Trim Masters Inc., its joint venture with Plymouth, Mich.-based Johnson Controls Inc.
The plant is the second supplier named for Toyota's new Mississippi operation. Toyota Auto Body Co. Ltd. is seeking a 50-acre site for its $180 million plant that will turn out both metal and plastic parts for the Highlander.