IML investing in $11M Iowa expansion
ST. PLACIDE, QUEBEC IML Containers Iowa Inc. will invest $11 million to expand its molding facility in Le Mars, Iowa, increasing production capabilities and adding space, equipment and employees.
IML opened in a leased facility in 2006 and built its own site in Le Mars two years later. The project will expand the company's injection molding plant in Le Mars, the Iowa Economic Development Board said in an April 21 news release. IML is part of Groupe LaCroix of Bois d'Amont, France, which has its North American headquarters in St. Placide.
The work will cover a 46,500-square-foot expansion for molding, more injection presses and warehouse space. IML will add 29 jobs during the next three years.
To help finance the project, the state of Iowa is providing incentives worth an estimated $148,800 in property tax abatements over a five-year period.
Graham Packaging buying Italy's Techne
YORK, PA. Graham Packaging Co. Inc. plans to buy blow molding machinery company Techne SpA - Technipack Engineering Italia srl for 8.8 million euros ($12.8 million).
Techne, based in Castel Guelfo, Italy, stopped taking orders for new machines around March 2010 and filed for protection from creditors in mid-October. The company was under liquidation proceedings with the Court of Bologna in Italy.
Techne makes extrusion blow molding machines and has an installed customer base of more than 1,000 machines with more than 200 customers in more than 70 countries. The machines make bottles for dairy, household, industrial, personal-care, pharmaceutical, food and beverage markets.
York-based Graham announced April 20 that it intends to acquire intellectual property, inventory, fixed assets, customer relationships and trade agreements. Graham said it will continue to operate Techne's manufacturing site in Bologna.
The deal is subject to the approval of Techne's creditors and the court.
Graham itself is being acquired by Silgan Holdings Inc. of Stamford, Conn., in a deal expected to close in the third quarter and that will create the largest blow molder in North America.
NatureWorks to produce Ingeo in Asia
MINNETONKA, MINN. Bioplastics maker NatureWorks LLC has chosen Asia as the location for its second world-scale manufacturing facility for Ingeo polylactic acid resin, saying the continent is its fastest-growing sales region.
The Minnetonka-based company had said as far back as NPE2009 that it had been looking for a second facility to complement its plant in Blair, Neb.
NatureWorks is evaluating potential sites in Thailand, Malaysia and Singapore. The new facility is expected to come on-line sometime in 2015, which is later than the firm had previously planned.
A NatureWorks official said new plans are for the second plant to have Ingeo production capacity comparable to the Blair facility, with designed capacity of 308.6 billion pounds.
Eppendorf gets tax break on Conn. project
HAMBURG, GERMANY Life-sciences company Eppendorf AG is expanding its U.S. production with a 130,000-square-foot addition to its plant in Enfield, Conn.
The Enfield Town Council unanimously approved a seven-year tax agreement to help Eppendorf with the construction, according to Enfield's director of economic development, Raymond Warren.
We promised them in 2004. We said at that time that if they made substantial renovations to the building that there could be an adjustment of taxes, he said. Eppendorf in 2004 revamped a 192,000-square-foot plant that had been used for heavy equipment in the paper industry, and at that time, the town did approve a tax agreement for the facility.
The previous agreement was a seven-year tax abatement plan, and the new plan is similar. Warren said Eppendorf will get a 30 percent break on the addition the first year, and the company is agreeing to create about 90 jobs. Warren said it is a winning situation for both.
Eppendorf, headquartered in Hamburg, makes products used in laboratories such as pipettes, pipette tips, centrifuges and microcentrifuges.