DeKalb gets funds to expand, add jobs
BUTLER, IND. DeKalb Molded Plastics Co. is spending $1.2 million on new storage space and a new injection press, in a project it expects to create 20 jobs by 2014.
The company currently employs more than 70 in Butler.
We have proven we can survive during the tough economic times and have readied the company for expansion as recovery occurs, President Rick Walters said in a news release. We continue to invest in our people, as well as our equipment and facility.
The Indiana Economic Development Corp. offered DeKalb up to $100,000 in performance-based tax credits and up to $40,000 in training grants. DeKalb County also will consider property tax abatement for the company. DeKalb serves markets for specialty materials handling, medical enclosures and safety products.
Thomas & Betts to close site, lay off 135
MEMPHIS, TENN. Electrical parts maker Thomas & Betts Corp. will close its injection molding facility in Clinton, Iowa, by the end of July and move the work to two plants in Tennessee.
The layoff of 135 workers will be gradual, said Tricia Bergeron, vice president of investor and corporate relations.
The construction market on average is down about 40 percent from its peak in 2008, Bergeron said.
T&B and the local union, which represented most of the workers, could not come up with an alternative plan, she said.
The company's Six Sigma principles and continual process adjustments opened up space at its plants in Portland and Athens, Tenn., enabling them to take on the work done in Iowa.
Memphis-based T&B acquired the 150,000-square-foot Clinton plant in 2007 as part of its purchase of Lamson & Sessions Co.
Cooper Standard, French firm team up
NOVI, MICH. Cooper Standard Automotive will create a joint venture in France worth up to 230 million euros ($333.7 million) to make auto body seals, coinjection molded components and other functional plastic and rubber parts.
The agreement will join Novi-based Cooper Standard's operations in France with global manufacturing operations of Société des PolymÃ¨res Barres Thomas, with Cooper Standard taking a 51 percent stake.
SPBT's owner, venture capital fund Fonds de Modernisation des Equipmentiers Automobiles, will hold the remaining shares.
Both companies make sealing, vibration-control, hoses and other parts using both plastics and rubber.
SPBT is based in Rennes, France. The company has three plants in France, one in Poland and a joint venture plant in India.