Mount Olive Mfg. moving to larger plant
PLAINFIELD, IND. Mount Olive Manufacturing Inc. plans to move to a larger facility in Indiana.
The Plainfield firm is building a 44,000-square-foot plant in Mooresville, Ind., at a cost of about $2.2 million, according to President Steve Langley.
``We need the extra space, but we also want to own our building,'' Langley said in a July 22 telephone interview. The firm currently leases a 35,000-square-foot facility in Plainfield. It has scheduled a July 30 groundbreaking for the new building and expects to occupy it in spring 2009.
Mount Olive is a contract manufacturer that heat-seals film to create more than a hundred products, including air bladders, drapes, pouches, airline life vests and other devices for medical, aerospace and consumer markets.
The company employs 25 and that level should grow by five after the business is established in Mooresville.
Composite Advantage begins production
Dayton, Ohio Composite Advantage LLC is moving to a 22,000-square-foot building it bought in Dayton.
The firm underwent development for 2½ years at the National Composite Center in Dayton prior to making the move to its production plant. Composite Advantage can make structural parts for bridges, walls, roofs and pads especially suited to infrastructure and corrosion-resistant applications. The new facility also will help it develop biocomposites and products with improved thermal conductivity.
``The opportunity to incubate at the National Composite Center allowed us to grow our company before taking on the full operational costs associated with ownership of a manufacturing facility,'' said Composite Advantage President Scott Reeve.
The firm has modified vacuum infusion techniques to make large, load-bearing structural panels and offers resin transfer molding technologies aimed at small to medium-sized parts in volumes as high as hundreds of thousands per year. Technicians also can perform matched composite and metal tooling.
Managers acquire injection molder MXL
Lancaster, Pa. Lancaster-based injection molder MXL Industries Inc. is under new ownership after a group of upper-level managers bought the company from its parent New York-based National Patent Development Corp., a distributor of home-improvement products and hardware.
MXL molds optical-quality plastic components from mainly polycarbonate and acrylics for the military, medical and dental, industrial safety, security and motor sports industries. It does mold design, as well as abrasion- and fog-resistant coating and vacuum deposition coating.
MXL officials could not be reached for comment. A story in the Lancaster New Era said the group paid $5.2 million for the firm.
``This is a terrific opportunity for the leadership team to participate in the ownership of an enterprise they have poured their hearts and souls into for the last four years,'' said Jim Eberle, MXL's president and chief operating officer, in a news release. ``The employees of MXL have the security of a locally owned and managed business dedicated to them and the local community in which they live,'' he added.
Fabri-Kal gets tax break for investment
Kalamazoo, Mich. Kalamazoo officials will grant a property tax abatement to Fabri-Kal Corp. to enable the Kalamazoo-based thermoformer to relocate part of its operations.
The City Commission on July 21 approved up to 12 years' abatement based on the firm's plan to invest $4.4 million in renovations at a 400,000-square-foot former Mead Paper Co.
City documents said Fabri-Kal will buy a sheet extrusion line and install it in the facility in the third quarter of 2008.
The city estimates the abatement will save Fabri-Kal $399,000 over 12 years and the business will generate about $266,000 in city taxes during the last eight years of the 20-year investment.
Company officials were unavailable for comment.
Fabri-Kal in February said it plans to spend $41 million during the next five years to consolidate research and manufacturing in Kalamazoo. About a quarter of the expense was to buy the Mead plant. The firm will vacate and sell a 187,000-square-foot building in Kalamazoo now housing its XP Division, technical center and warehousing.
Fabri-Kal had $245 million in 2007 sales. It employs 800.