Alpha Marathon files for bankruptcy
WOODBRIDGE, ONTARIO - Film extrusion equipment manufacturer Alpha Marathon Technologies Group Inc. has gone bankrupt.
The Woodbridge-based firm's creditors will hold a first creditors meeting on Feb. 15 in Mississauga, Ontario, according to an advertisement by its trustee in bankruptcy, msi Spergel Inc. of Toronto.
``It's a very competitive market out there,'' said Adolfo Edgar, marketing manager for competing film extrusion machinery supplier Brampton Engineering Inc. of Brampton, Ontario. ``It's difficult but there still is a market. We pick our battles and focus on high-end and high-technology systems.''
Alpha Marathon filed for bankruptcy on Jan. 7, according to msi Spergel.
O'Sullivan consolidating, closing Pa. site
WINCHESTER, VA. - Film maker O'Sullivan Films Inc. of Winchester is consolidating its custom products division and closing its Lebanon, Pa., plant.
The closure will eliminate about 60 jobs, the company noted in a Feb. 12 news release.
O'Sullivan makes calendered vinyl and olefin film for the auto industry as well as for use in various industrial and commercial applications. The custom products unit makes films for loose-leaf office products, medical and flooring markets. Work from Lebanon will be transferred to Winchester with the Lebanon plant closing during the second quarter of 2008.
PN notes corrections for PET, PS prices
AKRON, OHIO - Plastics News is correcting prices for PET and solid and expanded polystyrene to reflect price increases that occurred in late 2006 and during 2007. The changes are reflected on this week's resin pricing chart.
Both materials have been affected by higher prices and shortages surrounding raw materials. In PET, monoethylene glycol played a big role, while PS was impacted heavily by benzene, which is used to make styrene monomer feedstock. Some increases that buyers of PET and PS initially were able to hold off eventually did take hold.
After the corrections, the historic charts will show a 26 percent price increase for PET during 2007 and a 15 percent increase for PS during that same period.
Ross & Roberts closes after 60 years
STRATFORD, CONN. - PVC calendering firm Ross & Roberts Inc. has closed its doors after more than 60 years in business.
Samuel Rosenberg, vice president and co-owner, said in a Feb. 15 telephone interview the closure resulted in about 60 layoffs. He cited overseas competition and high energy and raw materials costs as factors in the decision to shut down.
Ross & Roberts was founded in New Haven, Conn., but moved to Stratford shortly afterward. The company makes vinyl for wall coverings, upholstery and boats.
Rosenberg said equipment for sale includes two calendering machines, two Wolverine coating lines and three laminators. Company officials first are concentrating on filling back orders and liquidating inventory, he said.
Schmitt exiting as Georgia Gulf chief
ATLANTA - Ed Schmitt's run as the leader of Georgia Gulf Corp. has ended, right on the heels of the materials and building products firm reporting a loss of more than $266 million for 2007.
Schmitt had been with Atlanta-based Georgia Gulf for 27 years, including the last 10 as chairman, president and chief executive officer. He's been replaced as president and CEO by Paul Carrico, who joined the firm in 1999 and had served as vice president of its chemicals and vinyls unit since 2006.
Schmitt will serve in an advisory role until July, officials said in a Feb. 14 news release. Patrick Fleming, a board member since 2000, will serve as chairman.
Georgia Gulf has struggled to digest the $1.6 billion acquisition of building products maker Royal Group Technologies Ltd. that it made in 2006. Several Royal plants have closed, and former Royal units posted operating losses of more than $100 million in 2007.