Fire at Ohio foam plant is ruled arson
WAUSEON, OHIO Investigators are offering a reward to determine who set a fire that destroyed a foam shaping plant March 29 in Wauseon.
Northwest Ohio Foam Products sustained an estimated $2.3 million in damage to its structure and equipment, Wauseon Fire Chief Marv Wheeler said in an April 6 telephone interview. The steel building is still standing, but is heavily damaged and may still have to be pulled down.
The Ohio State Fire Marshal's Office, working with local police and firefighters, ruled the fire arson. Northwest Ohio Foam shapes and coats polypropylene and polystyrene foam for insulation.
Magna, Hollingsworth team for seating JV
CHATTANOOGA, TENN. Magna International Inc. is teaming with Hollingsworth Logistics Group to create a joint venture supplying seats to Volkswagen AG's new auto assembly plant in Chattanooga.
Chattanooga Seating Systems will be a minority auto supplier, with 51 percent owned by Hollingsworth, a Dearborn, Mich.-based firm owned by a Native American family.
Aurora, Ontario-based Magna has worked with Hollingsworth on previous projects.
Hollingsworth's companies include sequencing and logistics operations at auto suppliers as well as transportation and packaging.
CSS will be based in Chattanooga and eventually employ 120 with full manufacturing of the seating for a midsize sedan that Volkswagen will make in Chattanooga at an assembly plant under construction. CSS is the second major supplier named for the project, local officials said in an April 5 news release.
The venture now is operating out of leased space in Chattanooga, but will be seeking a permanent location before full production begins in early 2011.
KlÃ¶ckner Pentaplast invests in Asia, US
MONTABAUR, GERMANY KlÃ¶ckner Pentaplast Group has announced a 27 million-euro ($36.4 million) investment in its shrink-label-film capacity in Asia and North America.
The program includes new production capacity for transverse-direction-oriented shrink-label films at its facilities in Rayong, Thailand, and Rural Retreat, Va. It also will include additional PVC film capacity at the Rayong site.
The company plans to add 60 new employees.
The shrink film tentering lines will add 33 million pounds of new production capacity and are scheduled to start up in early 2011. KlÃ¶ckner Pentaplast's shrink films are used for production of full-body and partial-sleeve labels.
The new PVC line primarily will be used to make pharmaceutical, shrink-base films and general thermoforming product. It will provide an additional 28 million pounds of production capacity and also will start up in early 2011.
These expansions will enable us to continue to support our customers' growing global demand for high-quality packaging films, said Tom Goeke, CEO of Montabaur-based KlÃ¶ckner Pentaplast.
KlÃ¶ckner Pentaplast has 19 plants and worldwide sales of 1.1 billion euros ($1.48 billion).
Cereplast resumes trading under 'CERP'
EL SEGUNDO, CALIF. Bioplastics supplier Cereplast Inc. received approval to relist its common stock on the Nasdaq market following the close of trading April 8, the El Segundo-based company said in an April 9 news release.
We consider this to be a milestone for our company, Chairman and CEO Frederic Scheer said in the release. The listing on Nasdaq is an important step as we move from the developmental stages of an early growth company to a market leader.
Cereplast recently opened an 80 million-pound-capacity plant in Seymour, Ind., making its Compostables and Hybrid lines of biopolymer materials.
The trading symbol for Cereplast's common stock on Nasdaq will revert back to CERP, following a temporary change to CERPD on March 15. The company expected its shares to start trading April 12 and said it would provide investors with more specific information upon listing.
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