Former P&G executive buys auto molder
LOUISVILLE, KY. - The owner of injection molder Enova Partners LLC has added another firm to its family, buying T&WA Inc., an automotive subassembly company.
EnovaPremier LLC of Louisville will continue operations of T&WA's four facilities in Paris, Ky.; Montgomery, Ala.; Charlotte, Mich.; and Princeton, Ind., under the name EnovaPremier, the companies announced in a news release.
EnovaPremier was created by entrepreneur Ed Rigaud, a former Procter & Gamble Co. executive who launched Enova Partners in 2005, with injection molding in Cincinnati. Enova also operates a joint venture molding operation, EnovaTech, with Scottsdale, Ariz.-based Tech Group Inc. at Tech Group's facility in Frankfort, Ky.
Privately held T&WA - now EnovaPremier - specializes in wheel and tire assemblies for the auto industry.
MS Automotive getting new HQ, facility
FOWLERVILLE, MICH. - Germany's Maschinenfabrik Spaichingen GmbH is spending $21.8 million to create a new headquarters and manufacturing facility for its U.S.-based MS Automotive LLC in Fowlerville.
The site will produce diesel engine components and the company's ultrasonic welding machines made under the name MS Plastic Welders and used by plastic molders making bumper fascias, door panels and instrument panels, the state of Michigan said in a Dec. 18 news release.
The state is providing an $883,000 tax credit, and the city of Fowlerville is considering a $1.3 million tax credit to help support the construction. Maschinenfabrik Spaichingen, based in Spaichingen, Germany, expects to employ 106 people in Fowlerville.
Ring cancels plan to build plant in La.
OPELOUSAS, LA. - Economic development officials in Opelousas hope they can lure a blow molder to their region, using elements of a tax incentive package they first developed for Ring Container Technologies Corp.
Ring had planned to build $16.7 million blow molding plant in Opelousas for a new contract making bottles for vegetable oil, but informed officials there in mid-December that it would not be building after all.
The Oakland, Tenn.-based company told the St. Landry Economic and Industrial Development District that it lost its bid for the contract, said district Executive Director Gerard Perron in a Dec. 27 telephone interview.
The development group spent a year working on the incentive package, which included agreements by Louisiana Economic Development to build a $110,000 rail spur to the site and the district issuing up to $20 million in tax exempt bonds to help finance the project.
Now that Ring is out, Perron said, the development group would like to find some other company that would be interested in the site.
DSM puts green into `green' polymers
HERLEEN, NETHERLANDS - DSM Venturing BV said it has made an undisclosed investment in Novomer Inc., which makes biodegradable aliphatic polycarbonates from epoxides and carbon dioxide.
Ithaca, N.Y.-based Novomer's materials can be used in a range of applications, from injection molded parts for electronics to paper coatings and medical implants.
In addition to the investment, Herleen-based DSM Venturing and Novomer said they intend to sign a cooperation agreement. Both arrangements will help DSM build its efforts in material science and life science to speed development of bio-based performance materials, said Babette Pettersen, DSM Venturing vice president of new business development for performance materials, in a Dec. 20 news release.
Novomer President Charles Hamilton said: ``Our relationship with DSM Venturing represents an important validation of Novomer's technology. DSM gives us a major partner in the chemical industry with critical expertise in high-volume production and access to global markets,''
DSM is a unit of Royal DSM NV, also of Herleen.