WhiteRidge investing $1.2M in N.C. plant
REIDSVILLE, N.C. Industrial blow molder WhiteRidge Plastics LLC is investing $1.2 million to expand in Reidsville for new production lines.
WhiteRidge, a subsidiary of Myers Industries Inc. of Akron, Ohio, expects to add 55 jobs during the next three years to the 100 already in Reidsville, according to a May 26 news release from the state of North Carolina. The company will receive a $45,000 grant through the One North Carolina Fund to help finance the construction.
The Reidsville-based company molds a variety of cases, nursery containers and dock floats along with other custom parts. The additional production capacity will allow it to make parts for Honda Motor Co. Ltd. trucks and all-terrain vehicles.
The location is a good spot to reach customers in the Southeast, said Max Barton, Myers Industries' director of corporate communications and investor relations.
Davis-Standard ends UK screw operation
PAWCATUCK, CONN. Davis-Standard LLC is closing its screw- and barrel-making plant in England, and will bring the work to company headquarters in Pawcatuck and source some to outside suppliers, President Charles Buckley said.
Davis-Standard has made screws and barrels at its subsidiary D-S Brookes Ltd. in Oldbury, England, near Birmingham. Buckley said Davis-Standard will continue to operate a sales and service operation, including some manufacturing, in the Birmingham area, but in a smaller space.
About 24 people will be laid off when the company ends screw and barrel production in Oldbury at the end of June, he said.
The closing will help Davis-Standard cut lead times, Buckley said.
Xaloy to expand its Thailand operation
NEW CASTLE, PA. Xaloy Inc., a supplier of engineered melt-stream components and ancillary equipment, has announced a factory expansion plan for its Chonburi, Thailand, operation.
The expansion will enhance capabilities in manufacturing, with larger barrel capacities, and in technology, such as for engineering rheology and finite-element analysis.
According to Ron Auletta, president and CEO of New Castle-based Xaloy, the Thai expansion will confirm Xaloy's commitment to its customers, employees and shareholders, in conjunction with other recent developments. In 2009, the company extended its heat-transfer roll manufacturing at New Castle and acquired Youngstown, Ohio-based Spirex Corp., a plasticating components provider. Xaloy is implementing a global enterprise resource planning program.
Serving both the injection molding and extrusion markets, Xaloy's product portfolio includes melt pumps, screen changers, pelletizers, cleaning ovens, valves, end caps, tips, high-performance screws, and bimetallic single and twin barrels.
Visteon officially rejects offer from JCI
DETROIT Visteon Corp. has rejected a proposal from competitor Johnson Controls Inc. to buy part of its auto interiors business, saying that the purchase would harm its chances of quickly emerging from bankruptcy.
The auto supplier said in a June 1 letter from its board of directors to JCI that it is best served by moving forward with our previously announced plan of reorganization to emerge as a strong, independent stand-alone company.
Johnson Controls, with an auto interiors unit based in Plymouth, Mich., made an unsolicited bid May 21 to buy certain assets from Visteon, based in the Detroit suburb of Van Buren Township. The $1.25 billion offer focused on electronics and interior operations.
Visteon, a former Ford Motor Co., parts operation, entered Chapter 11 protection in 2009. The company was expected to reject the offer, and the letter made that official.
The company said selling the operations would not be good for Visteon or for its creditors.
We have determined that our [reorganization plan] is the best path forward for Visteon and that your proposal does not warrant further consideration, the board stated.
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