Former DMS owner buys back company
OLDCASTLE, ONTARIO Three years ago, Dave Belleperche sold his controlling share in tooling components company DMS Inc. of Windsor, Ontario, and got ready to retire.
Now he's back as the sole owner of DMS North America now in the Windsor suburb of Oldcastle and ready to see the company continue, with a regional focus.
I love the industry and was around it for a long, long time, Belleperche said in a June 4 telephone interview.
Belleperche first started working with DMS in 1973. When he retired, the company was part of an international component sales group and was controlled at one point by publicly traded Wolseley plc of Reading, England. When Wolseley decided to divest, it split its European and North American operations, and Belleperche ended up back at his old firm, now with sole ownership of the North American unit. He is looking at opportunities to expand into Central America and South America as well.
The European operations are still for sale.
Decoma buys Meridian composites plants
ALLEN PARK, MICH. Composites molder Meridian Automotive Systems Inc. of Allen Park has sold seven plants to competitor Decoma International Corp. in a move to focus on its core auto parts business and improve its overall liquidity.
The sale to Decoma, part of Aurora, Ontario-based Magna International Corp., involves three plants in North Carolina, three in Mexico and the lease of a sheet molding compound facility in Grabill, Ind. The plants mostly served commercial truck and non-auto customers, Meridian noted in a June 3 news release.
The companies did not disclose the purchase price for the June 1 deal, which includes sites in Lenoir, Newton and Salisbury, N.C.; and Celaya, Hermosillo and Saltillo, Mexico. Meridian just opened the Saltillo plant in 2008, and recently expanded it to provide SMC sheet for the region. Meridian retains 12 plants, spread through Michigan, Canada and Indiana.
Nypro closing Oregon manufacturing site
CLINTON, MASS. Nypro Inc. is phasing out a manufacturing and research facility in Corvallis, Ore., and plans to close it within the next six months.
The closing will affect 62 employees, according to a Nypro news release. Some will transfer to other Nypro locations, and others are being offered severance and outplacement packages.
Work in Corvallis will be shifted in phases to larger facilities. Nypro continues to shift its focus to large, comprehensive, full-service plastics contract manufacturing plants that have several-hundred employees, said Steve Holland, vice president of Americas operations for Nypro's global health-care business.
The Corvallis operation handled health-care, electronics, telecommunications and consumer products.
The Corvallis facility ... unfortunately does not fit the new strategic size requirements of the company's global customers, the release said.
Plastics molders among top GM creditors
DETROIT While bond holders and unions are on the hook as General Motors Corp.'s biggest creditors in bankruptcy, they are not alone. There are also suppliers owed millions of dollars, including major plastics firms.
GM's June 1 filing for Chapter 11 protection with U.S. Bankruptcy Court in New York lists more than $170 billion in debts. Bond holders, banks and the union top the list of the Detroit-based automaker's 50-largest unsecured creditors, but Delphi Corp. also is owed $110.8 million in trade debt, making it the supplier owed the most cash.
Delphi of Troy, Mich., is itself already in bankruptcy. The one-time parts company within GM filed for Chapter 11 in 2005 and is still seeking ways to emerge. Delphi makes a variety of parts for GM, including injection molded air-handling systems.
Inteva Products LLC, the former interiors unit of Delphi purchased out of bankruptcy by Renco Group Inc. in 2008, is also on the top 50 creditors list, owed $37.3 million.
Other plastics-oriented firms on the top creditors list include interiors molder International Automotive Components LLC of Dearborn, Mich., owed $12 million; seat maker Lear Corp. of Southfield, Mich., $44.8 million; interiors firm Johnson Controls Inc. of Plymouth, Mich., $32.8 million; and Visteon Corp., in the Detroit suburb of Van Buren Township, $9.8 million. Visteon filed for Chapter 11 bankruptcy protection May 27.