Duo-Form growing through acquisitions
ELKHART, IND. Thermoformer Duo-Form Plastics has made its second acquisition in as many months.
On Feb. 26, the firm bought Majestic Plastics of Elkhart, it said in a news release. On Jan. 12, it bought GS Plastics Inc., also of Elkhart. Terms were not disclosed for either transaction.
Majestic makes bath and exterior products for the recreational vehicle industry. Duo-Form will keep the operation in Elkhart and retain Majestic's 20 employees, the news release said.
GS Plastics stopped operations in December. Leading up to that, Duo-Form had discussions about buying GS assets, Duo-Form said. Since then, Duo-Form has moved GS assets into its Edwardsburg, Mich., headquarters plant and hired about 25 of 100 GS employees. GS had 22 thermforming lines. Its capabilities included twin-sheet forming and it was able to make parts as big as 9 feet by 13 feet. It was heavily involved in the RV market, as is Duo-Form.
Officials were unavailable to discuss the deals in more detail.
Duo-Form reported 2007 sales of $21.5 million. After the GS deal, it operated 17 thermoforming lines, according to Plastics News' recent thermoformers survey.
CPIA taps ex-Royal spokesman Badger
MISSISSAUGA, ONTARIO The Canadian Plastics Industry Association has hired Mark Badger to be its new leader.
Badger was a vice president with vinyl extrusion major Royal Group Technologies Ltd. from 1995-2008. While there, his responsibilities included corporate communications, marketing and corporate development. After Royal was bought by Georgia Gulf Corp. in 2006, Badger led that company's investor relations unit until he recently left the company.
He has a long history in the plastics industry in Canada and he has firsthand understanding of the value this trade association brings to its members, CPIA board Chairman Dave Birkby said in a news release.
Badger starts his new post March 9 at Mississauga-based CPIA. He replaces Serge Lavoie, who will retire at the end of the month.
Conn. adds water bottles to deposit law
HARTFORD, CONN. After unsuccessful attempts the past three years, Connecticut has added water bottles to its 31-year-old bottle-deposit bill to help solve a state budget deficit. Gov. Jodi Rell signed the bill into law March 3, four days after it was approved by the Legislature.
The new nickel-deposit law establishes a trust fund that will receive unused deposits from carbonated beverages and water bottles, estimated to be $12 million annually, to use in expanding recycling options.
Connecticut becomes the fifth state to place a deposit on water bottles. The other states are California, Oregon, Maine and Hawaii.
Other states that have introduced bills that would put deposits on water bottles include New York, Michigan, Florida, New Jersey, West Virginia, Tennessee, Rhode Island, Vermont, New Mexico and Iowa.
Berry spending $2.7 million to expand
EVANSVILLE, IND. Berry Plastics Corp. is embarking on a $2.7 million expansion at its Richmond, Ind., facility.
Randy Hobson, Berry Plastics executive vice president of commercial development, said the project includes a 6,000-square-foot addition and $2.4 million worth of new machinery, and will create about 15 jobs in the next 12 months. He declined to provide more details.
The Richmond plant produces containers for food packaging and employs 263.
The company is getting a $75,000 grant from Economic Development Corp. of Wayne County. Berry Plastics is a very well-run company and they contribute to a lot of different projects in the community, said Bob Hansen, manager for business retention and expansion at EDC.
Berry, based in Evansville, announced last month it would expand its thermoforming business with an $80 million project, but is still evaluating sites for that expansion.