Weeks to lead Reifenhauser's US unit
DANVERS, MASS. —— The new president of Reifenhauser Inc. is Robert Weeks, a machinery veteran who was a longtime executive at Battenfeld Gloucester Engineering Co. Inc.
Reifenhauser announced the news June 1. The Danvers operation is the U.S. subsidiary of Reifenhäuser GmbH & Co. KG in Troisdorf, Germany, a maker of machinery for blown and cast film. Reifenhauser Inc. handles sales, service and spare parts for the United States and Canada.
Weeks comes to Reifenhauser from flat-die maker Cloeren Inc. of Orange, Texas, where he had served as vice president of sales since 2007. Before that, Weeks spent 19 years at film equipment maker Battenfeld Gloucester (now called Gloucester Engineering Co.), where he was vice president of sales and marketing.
Sealed Air buys cleaning products maker
ELMWOOD PARK, N.J. —— Packaging manufacturer Sealed Air Corp. will acquire cleaning products maker Diversey Inc. in a $4.3 billion deal.
According to a news release from Elmwood Park-based Sealed Air, the transaction is expected to be completed in 2011.
Under the terms of the agreement, shareholders of Sturtevant, Wis.-based Diversey will receive $2.1 billion in cash and 31.7 million shares of Sealed Air common stock valued at $25.68 per share, for a total equity consideration of $2.9 billion — about 15 percent of Sealed Air stock.
Diversey provides cleaning, sanitization and hygiene services to industrial and retail customers in the food and beverage, food-service, health-care and lodging sectors, as well as to building-service contractors. Crucially for Sealed Air, its new partner has a major presence in developing markets in Africa, Asia and Latin America.
Once the deal goes through, Sealed Air will have greater than 60 percent of its pro forma revenue generated outside of North America, and 21 percent of that will be in developing regions, according to the release.
Diversey employs more than 10,000 worldwide and operates in more than 60 countries.
Sealed Air operates in 52 countries, employs more than 16,000 and reported sales of $4.5 billion in 2010.
Former Spirex chief Colby leaving Xaloy
NEW CASTLE, PA. —— Paul T. Colby, the former president of screw and barrel maker Spirex Corp., has left Xaloy Inc., which purchased Spirex two years ago.
Colby said May 9 was his last day at Xaloy.
“They chose not to renew my contract,” Colby said when contacted by Plastics News.
Mark Gaia, Xaloy's vice president of human resources, said the discussion about Colby's employment was between Colby and the private equity company that owns Xaloy, Industrial Growth Partners of San Francisco.
New Castle-based Xaloy bought Spirex of Youngstown, Ohio, in 2009, marking a major consolidation in the screw and barrel sector. Colby stayed on to help integrate the two companies, work with customers and develop new technology.
Spirex was founded in 1978 by Paul T. Colby's father, Paul N. Colby.
Romeo installs long-fiber injection press
ROMEO, MICH. —— Composite molder Romeo RIM Inc. has installed a long-fiber injection press capable of producing parts of up to 121 square feet.
The press is part of a previously announced expansion at the company in Romeo. KraussMaffei AG designed and manufactured the press and served as general contractor for the project. Material supplier Bayer MaterialScience LLC of Pittsburgh also helping to bring it on line, the company announced in a May 26 news release.
The press is a 400-ton, 12-foot-by-12-foot, double-shuttle machine and is fully automated. It also can accommodate in-mold coatings for a Class A surface.
The press will be used for key Romeo RIM customers in the agriculture, construction, mass-transit and heavy-truck markets, said Paul Condeelis, vice president of business development. The company will market it to makers of parts that previously required steel, sheet molded compound or aluminum.