Polymer Group puts NYSE listing on hold
CHARLOTTE, N.C. - Polyolefin nonwovens textile producer Polymer Group Inc. has put its plan to become listed on the New York Stock Exchange on hold.
The company said Nov. 15 volatile financial market conditions are not the right environment to go ahead with a share sale plan that was to result in a NYSE listing.
PGI and certain shareholders had planned to sell Class A common stock. The Charlotte-based firm did not indicate when it might revive the share sale and NYSE listing program. PGI's stock will continue to be listed on the Nasdaq OTC Bulletin Board.
Goetz invests $6M in Bristol facility
BRISTOL, R.I. - Polymer-matrix-composite processor Eric Goetz Custom Sailboats Inc. invested more than $6 million in land, construction and equipment for its second Bristol facility.
Goetz purchased a six-axis computer numerically controlled milling center that has more capabilities than the firm's existing equipment, said President Eric Goetz.
``It is a mix of custom-made products from the U.S. and some high-end German components,'' he said.
Garmat USA supplied custom-built computer-controlled spray booths and ovens. Garmat General Manager Johan Huwaert said the equipment has an interior width of 30 feet and height of about 16 feet.
Goetz Custom Boats opened the new, 43,000-square- foot facility in September. The company is expanding its presence in the sailboat business and also pursuing the powerboat market.
For environmental purposes, Goetz designed a plant with double insulation, reducing heating and cooling requirements; water-saving devices; and use-on-demand hot-water heaters.
The Bristol City Council authorized tax credits that the firm will receive over several years.
The site is about a half-mile from an existing, 28,000-square-foot building that Goetz is converting to make short-run production tooling and components for other boat builders.
Goetz employs more than 70, up from 30 in September 2006. The company withheld sales.
BayerSystems nabs PU spray foam maker
SPRING, TEXAS - A subsidiary of Bayer MaterialScience LLC has acquired UCSC Ltd., a manufacturer of rigid polyurethane spray foam roofing and wall insulation.
Spring-based Bayer subsidiary BaySystems North America LLC will operate the company, which includes a plant in Phoenix with 50 employees.
Phoenix-based UCSC sells to contractors and original equipment manufacturers serving the construction market.
``The UCSC acquisition will further improve our position in the commercial roofing business and will also boost Bayer's presence in the fast-growing perimeter wall insulation market,'' said Jerry MacCleary, head of the polyurethanes unit's North American regional marketing and business development, in a news release.
Information was unavailable regarding the size of the new Phoenix plant, as well as how UCSC compares in size with Bayer's existing PU foam operations, according to Bayer spokesman Sean Kelly.
The purchase price also was not disclosed.
Marmon unit buys KX Industries assets
ORANGE, CONN. - A Marmon Water LLC subsidiary acquired the assets of Orange-based KX Industries LP, a maker of carbon blocks for filtration systems.
Now called KX Technologies LLC, the firm makes more than 25 million carbon blocks a year. It retains Don Caulfield as president.
KX Industries was formed in 1989 as a limited partnership between Exxon Corp. and KT Corp. The company, which employs about 200, uses a proprietary extrusion process to combine carbon powder, a thermoplastic binder and absorbents.
John Goody, president of Williamsburg, Va.-based Marmon Water, said in a news release that KX offers technologies complementing Marmon's capabilities in residential and industrial ion exchange products.
KX will operate under Marmon Water's Separations Technology Group, which includes Graver Technologies, a filtration company in Glasgow, Del.
Creganna doubling size of its U.S. HQ
MARLBOROUGH, MASS. - Creganna Medical Devices of Galway, Ireland, plans to double the size of its U.S. headquarters in Marlborough by April, adding a clean room and injection molding capabilities.
The company also recently added a microextruder in Marlborough to produce small-bore tubing with extremely high tolerances. Two other extrusion lines at the site make prototype quantities of extruded and braided catheter tubing.
The firm supplies design services, fast-turn prototypes and custom pilot runs of single-lumen and multilumen extrusions. Creganna makes medical delivery devices, including hypotube-based shafts.
Premier increasing space at Minn. plant
HOYT LAKES, MINN. - Premier Plastics Inc. is building a 5,000-square-foot storage facility at its Hoyt Lakes site to open up more manufacturing space.
The new building will be ready in 60-90 days, according to Premier President Bob Menne. The addition will boost the Hoyt Lakes-based company's total space to about 40,000 square feet.
Premier, which does rotational molding and thermoforming, splits its work 50-50 between the marine and recreational markets, Menne said.
He said sales have been strong the past few years and currently are running about 10 percent ahead of last year's pace.
The company, founded in 1997, moved to its current site in 2003.