IDI poised for thermoset dominance
NOBLESVILLE, IND. IDI Composites International has acquired thermoset material plants in France and China in a deal that officials said will make the firm the largest supplier of thermoset molding compounds in the world. The purchase price was not disclosed.
Noblesville-based IDI now includes plants in Vineuil, France, and Shanghai, China, that had been owned by investment firm Senata GmbH of Freising, Germany. Senata operated the plants as part of its Menzolit Compounds International GmbH unit.
Both plants produce thermoset bulk molding compounds and sheet molding compound, as well as a specialty thermoset compound made through continuous impregnation.
Customers served by the plants include Audi AG, Ford Motor Co., Volkswagen AG, Siemens AG and other companies with ties to the automobile industry.
The acquisition almost doubles IDI's annual production capacity and will result in faster turnaround, officials said.
IDI operates a 200,000-square-foot plant in Noblesville, as well as plants in the United Kingdom and China.
Hella to shutter US auto lighting plant
YORK, S.C. German auto lighting company Hella KGaA Hueck & Co. is closing its U.S. manufacturing operation and moving production to lower-cost facilities in Mexico and Eastern Europe.
The closure of the Hella Lighting Corp. plant in York, about 20 miles southwest of Charlotte, N.C., reflects decreased auto manufacturing numbers in the U.S. and the company's expectation that there will not be enough business to sustain production, Hella officials said. Despite good operational efficiency, future levels of plant utilization will be inadequate, Jurgen Behrend, CEO of Lippstadt, Germany-based Hella, said in a June 8 news release.
The plant currently employs 387 and will close by the end of May 2010. Hella's lighting division uses both thermoset and thermoplastic parts, with polycarbonate used extensively in lenses.
Nissei counters competition's moves
NAGANO, JAPAN Injection molding machinery maker Nissei Plastic Industrial Co. Ltd. will set up offices in India and Vietnam to bolster its presence in South and Southeast Asia and respond to an influx of Japanese companies in those areas.
Nagano-based Nissei said in a news release that the number of Japanese firms in Delhi grew from 174 in March 2008 to 222 in April 2009. The company has a representative office in Mumbai, but wanted to expand with its new office in Gurgaon, near Delhi.
In Vietnam, Nissei said it will set up a sales office in Hanoi, after setting up an office in Ho Chi Minh City in 2006.
The company said it anticipates more Japanese, South Korean and Chinese information technology and automobile firms will set up operations in Hanoi.
PolyOne, MRC partner on new resins
AVON LAKE, OHIO PolyOne Distribution has expanded its lineup by adding recycled-content resins from MRC Polymers Inc.
New MRC materials offered by PolyOne Distribution, a unit of Avon Lake-based PolyOne Corp., include post-industrial and post-consumer grades of polycarbonate, nylon and other engineering resins.
PolyOne officials said that demand for recycled resins is highest in markets such as transportation, lighting, lawn and garden, and recreation.
Paul Binks, MRC's president and CEO, said that his firm has recycled about 350 million pounds of plastic feedstock into high-quality, consistent material in its 29-year history. Chicago-based MRC employs more than 140 at seven recycling and compounding plants in the U.S. and Mexico.
PolyOne Distribution ranks as one of North America's largest resin distributors, with sales of almost $800 million in 2008.
Investment firms complete Foamex deal
MEDIA, PA. MatlinPatterson Global Opportunities Partners III LP and Black Diamond Capital Management LLC have completed the purchase of bankrupt Foamex International Inc. and renamed the company FXI-Foamex Innovations.
A privately held polyurethane foam product producer, Media-based FXI will retain all current business lines and continue to operate in a diverse market that includes the aerospace industry, office equipment and home furnishings.
In addition, the company said it expects to aggressively pursue new business opportunities and to benefit from the financial and business expertise of its new owners.
Black Diamond of Lake Forest, Ill., and MatlinPatterson of New York City completed the acquisition of substantially all of the Foamex assets June 12 and renamed the firm June 15.