Pail maker Bway acquires Plastican
ATLANTA In a deal between major injection molders of plastic pails, Bway Holding Co. an Atlanta-based molder owned by Madison Dearborn Partners LLC has acquired Plastican Inc.
Plastican is based in Leominster, Mass., and has plants in Leominster; Macon, Ga.; Dallas and Phoenix. The company reported net sales of $90 million in 2009.
Ken Roessler, president and CEO of Bway, said in a news release that he expects to realize significant synergies from the combination of the two companies, including potential future plant rationalizations.
Bway said it funded the acquisition with cash on hand.
Including the Plastican operations, Bway has 23 plants in the United States and Canada. Bway makes both plastic and metal pails.
John Clementi, Plastican's CEO, called Bway the perfect partner to advance the legacy of innovative designs and quality that Plastican has always brought to the marketplace.
The Plastican deal is Bway's second acquisition in a year. In October 2009, Broomfield, Colo.-based Ball Corp. sold its plastic pail assets to Bway for $32 million.
PS foam food-service products ban OK'd
HAYWARD, CALIF. The Hayward City Council voted unanimously Oct. 12 to ban polystyrene foam food-service products and require restaurants to use compostable products, starting July 1.
Robert Bauman, the city's director of public works, noted that the law is consistent with ordinances already adopted in neighboring Alameda, Contra Costa, San Francisco, Santa Clara and San Mateo counties.
Products covered by the ordinance include plates, cups, bowls, trays, and hinged and lidded containers. Single-use straws, coffee stirs, utensils and hot-cup lids are not covered.
Restaurants can apply for an exemption to the law if it will cause a financial hardship.
KraussMaffei opens plant in Slovakia
MARTIN, SLOVAKIA Reflecting growing business in Eastern Europe, KraussMaffei AG on Oct. 12 officially opened a new production plant in Martin.
As a result of the project, the company has doubled its production capacity for switch cabinets. The plant also will assemble AX-series injection molding presses up to 350 tons of clamping force and it will make parts for various plastics processing machinery.
The Munich-based company makes injection presses, extruders and reaction process machinery.
We've had a growing presence in Martin since 2005. In expanding our production portfolio here, we're opening up efficiency potential in response to increasing demand from Eastern Europe, Dietmar Straub, CEO of KraussMaffei, said in a news release.
At the same time, in our Munich plant, we're concentrating on our core competence in building high-end plastics processing machinery, he said.
The new 71,000-square-foot plant employs 120.
The company markets its products under the KraussMaffei, KraussMaffei Berstorff and Netstal brands.
Lacks to add 3 presses at Mich. plant
GRAND RAPIDS, MICH. Auto supplier Lacks Enterprises Inc. will invest $2 million to install three new injection molding presses at a plant near Grand Rapids.
The first two presses are scheduled to arrive this year, according to officials in the Grand Rapids suburb of Cascade Township, which granted a tax break for the company's new equipment on Oct. 13. The third press will be installed in 2012. The tax abatement will reduce taxes on the new presses by 50 percent for 12 years. The presses will go into existing manufacturing space.
Company officials were not immediately available to discuss their plans, but told the township that the additional equipment will be used for new work.
Grand Rapids-based Lacks molds interior and exterior trim for the auto industry and supplies parts for home appliances. It also has chrome plating for plastics.
Automakers have expressed interest in using more chrome highlights in auto design, both for interior and exterior parts.