ITW obtains Chinese vacuum bag maker
GLENVIEW, ILL. - Illinois Tool Works Inc. has bought a Chinese maker of vacuum storage bags, Hwa Meir Packing Daily Commodities Co. Ltd.
ITW said the company, located in China's Guangdong Province, had been a supplier to ITW's Space Bag business. The Chinese firm makes patented vacuum storage bags and containers used in reduced space storage for home and travel, and exports to North America, Europe and the Pacific Rim.
Glenview-based ITW said in its Sept. 19 announcement that Hwa Meir will be a wholly owned business unit of ITW's Minigrip/Zip-Pak/Space Bag plastic packaging group. Terms were not disclosed.
``The acquisition of Hwa Meir helps us expand our growing presence in Asia,'' said John Stevens, vice president and general manager of the ITW Space Bag group.
Insulfoam closing EPS molding factory
CHARLOTTE, N.C. - Insulfoam is shutting down its Obetz, Ohio, plant that makes block molded expanded polystyrene insulation products.
Plant operations are slowing down and could end as early as Sept. 31. About 60 jobs will be lost.
Insulfoam is owned by Charlotte-based Carlisle Cos. Inc., which bought the company and Premier Building Systems - a structural insulated panel maker - from Tacoma, Wash.-based Premier Industries Inc., for $160 million in the second quarter of 2007.
The firm cited the downtrodden construction industry as its reason for downsizing. The plant is closing ``due to market conditions,'' said Heidi Ellsworth, spokeswoman for Carlisle Construction Materials, in a telephone interview.
Ellsworth declined to elaborate on why the Ohio plant was selected over the company's remaining plants, or to disclose plans for the building and equipment.
Insulfoam block molds several EPS products for a number of markets, including insulation parts and flotation devices. The company claims to be the largest maker of EPS products in the United States.
The Obetz facility is one of 13 block molding plants Insulfoam operates.
The remaining 12 are in Mead, Neb.; Aurora, Colo.; Marlin, Texas; Lakeland, Fla.; Anderson, S.C.; Kent, Wash.; Anchorage, Alaska; Dixon and Chino, Calif.; and Phoenix.
Meadwestvaco joins Keltec with Calmar
RICHMOND, VA. - Meadwestvaco Corp. has acquired injection molder Keltec Dispensing Systems BV of Drunen, the Netherlands.
Keltec makes foamer and airless dispensing systems at a plant in Drunen and employs roughly 60. The operation will become a unit of Meadwestvaco's Calmar division, which it acquired in 2006. Calmar specializes in pump and spray packaging.
Richmond-based Meadwestvaco said it plans to expand activity in Drunen and will make use of Keltec's technology at Meadwestvaco plants in Asia and North America. Keltec's airless dispensers are designed using rolling bellow technology and include minimal components, according to a news release.
Keltec's products are used in personal-care, health-care and cosmetics products.
Aernnova to build U.S. engineering hub
PITTSFIELD TOWNSHIP, MICH. - Grupo Aernnova SA, a Spanish designer and manufacturer of aircraft components, will spend $10 million to build an aerospace engineering center in Pittsfield Township, near Ann Arbor, the company said Sept. 18.
Aernnova expects to employ as many as 600 at the facility, which will design composite and metal structures, including aircraft wings, tails and fuselages.
The Michigan Economic Growth Authority on Sept. 18 approved a 15-year, $18.5 million state tax credit to lure the company. Pittsfield Township may offer a 12-year, $304,000 abatement, according to an Aernnova news release.
The Vitoria, Spain-based firm is expanding its presence in the North American aerospace market, and chose the Michigan site because of its proximity to a major university and the trained local workforce, said IÃ±aki LÃ³pez Gandasegui, Grupo Aernnova chairman and chief executive officer.