Thermoformer VDL adds Italian machines
RODEN, NETHERLANDS - European thermoformer VDL Wientjes Roden BV aims to improve its quality and productivity through the installation of two new Italian-supplied automated vacuum forming machines.
The Roden-based processor of technical semimanufactured and finished plastics products is taking delivery of the machines, supplied by QS Group SpA of Cerreto d'Esi, Italy, in October and November.
The 900,000 euro ($1.27 million) equipment features fully automatic sheet supply, a preheating station, automated preheated sheet transfer to the forming station and automatic product unloading.
VDL Wientjes is part of the diverse industrial group VDL Groep of Eindhoven, the Netherlands, which specializes in metalworking, plastics processing and surface treatment. Its products range from buses and coaches, vehicle chassis modules and auto suspension systems to cigar-making machines and medical systems.
VDL Groep operates three other Netherlands plastics processing subsidiaries, two of them component injection molders.
Electrolux considers closing U.K. facility
STOCKHOLM, SWEDEN - Global home appliance supplier AB Electrolux is considering closing a money-losing European cooker production plant with a resulting loss of up to 500 jobs.
The Stockholm-based group has launched an investigation into the viability of the facility in Spennymoor, England, where increased imports have significantly undermined its performance, it said. The plant supplies a range of cookers to the British and Irish markets.
Electrolux, which sank investment of around 7 million pounds ($14.3 million) in a new product line at Spennymoor in June 2005, must decide whether to switch production to Eastern Europe. The company has reported improved demand in that region for its household appliances with lower sales in Western Europe during this year.
Intense worldwide competition has prompted the review, which is due to be completed by December.
``The factory in Spennymoor has been making a loss over the last few years and although financial results have been improving, we need to assess whether it will be feasible to take the business into profit in the foreseeable future,'' plant General Manager Dave Watroba told BBC News. Preliminary studies showed major savings could be made by switching production to a low-cost country, he added.
AV Ventures garners firms via share swap
SHAH ALAM, MALAYSIA - Automobile part manufacturer AV Ventures Corp. Bhd is acquiring Brimal Holdings Sdn Bhd and Autovisor Plastics Sdn Bhd through a share swap of about 12.3 million ringgits (US$3.65 million). AV Ventures plans to expand into the Malaysian market.
A spokesman at Shah Alam-based AV Ventures said the deal will be completed by the end of January.
Established in 1975, Brimal assembles car rearview mirrors and other automotive accessories. It also manufactures tools, dies, molds and high-precision engineering plastics and molding for the automotive, telecommunication and electronics industries in Malaysia.
Autovisor, established in 1990, manufactures sun visors and interior car lamps for the Malaysian automotive industry.
Both companies' key customers are the Malaysian national car manufacturing companies, Perusahaan Otomobil Nasional Sdn Bhd and Perusahaan Otomobil Kedua Sdn Bhd.
AV Ventures said the acquisitions will become an integrated producer of automotive parts with a more diversified range of clientele.
It also stressed that the acquisitions are supported by the Malaysian government's National Automotive Policy, a plan initiated in March 2006 to support the domestic automotive industry, with hopes of growing it into a regional hub.
PGI project to boost nonwoven capacity
CHARLOTTE, N.C. - Polymer Group Inc. will expand its nonwoven polyolefins capacity with a $50 million project in San Luis Potosí, Mexico.
The Charlotte firm said it will install a new multibeam melt spinning line that will boost its nonwovens capacity by about 33 million pounds per year. PGI will install a ReifenhÃ¤user Reicofil 4 line to meet strong demand for nonwovens in diapers and other personal hygiene products.
``This state-of-the-art line will allow us to broaden our product offerings'' in the U.S. and Mexico, said Chief Executive Officer Veronica Hagen in a news release.
Royal Group settles class-action lawsuit
ATLANTA - An investor class-action lawsuit against the former Royal Group Technologies Ltd. has been settled for $9 million, according to a report in the Canadian Press wire service.
The settlement covers investors who bought Royal Group shares between February 1998 and October 2004.
The company, now named Royal Group Inc., was bought by Atlanta-based resin and aromatics maker Georgia Gulf Corp. for $1.7 billion in October 2006.
Royal Group officials could not be reached for comment. The settlement is subject to approval of U.S. and Canadian courts.