Jite buys back plant from new owners
TORONTO — Electronics supplier Jite Technologies Inc. is buying back a tooling and molding operation it spun off last year, because of problems completing that sale.
Jite struck a deal in June 2010 to sell 60 percent of its molding and tooling plant in Shenzhen, China, to companies owned by its employees. It announced Aug. 11 that it will buy back the division because increased cost for labor and raw materials meant that the new owners could not raise enough money to ensure they could meet payment terms of a loan.
The move ensures that Jite, which makes connectors and other electronic parts, will have no interruption in supplies, the company said in a news release.
Jite has its headquarters in Toronto, but manufacturing in China, both in Shenzhen and at a new plant in Kunshan that opened in December. It listed US$20.3 million in sales for fiscal 2010.
Saint-Gobain to buy Solar Gard films
AURORA, OHIO — Saint-Gobain Performance Plastics has struck an agreement to buy Bekaert Specialty Films from NV Bekaert SA of Kortrijk, Belgium.
The films business, which operates as Solar Gard Specialty Films, has plants in San Diego and Zulte, Belgium, and is working on a footprint in China. It posted 2010 sales of $150 million.
Solar Gard makes coated films used in homes and commercial buildings, automotive and industrial applications, including solar-control films, tinted films and security films.
Aurora-based Saint-Gobain Performance Plastics said the deal fits into its strategy to concentrate on the “sustainable habitat” market. The firm is a unit of Paris-based Cie de Saint-Gobain.
McDunnough gains recycling equipment
FENTON, MICH. — Plastics recycler McDunnough Inc. purchased assets of another Michigan recycler and moved the equipment in mid-July to Fenton.
Fenton-based McDunnough bought the assets of USA Recycle in Hastings, Mich., which had closed down, said owner Darren McDunnough. The transaction closed in late June, he said.
The additional equipment increases McDunnough's capacity for shredding, grinding, baling and material handling.
Last year, McDunnough increased its manufacturing space by moving from a 45,000-square-foot building in Whitmore Lake, Mich., to a 75,000-square-foot plant in Fenton. The plant is a former Lear Corp. automotive seating factory.
“This purchase fits extraordinarily well into our growth and expansion plans,” McDunnough said. “Additional capacity certainly increases the opportunity for more business, which in turn leads to additional hiring in all areas of the company.”
The recycler brought over 15 employees when it moved to Fenton last summer. McDunnough said the firm has expanded employment by 40 percent this year and wants to hire more people.
Daikin to add fluoropolymer capacity
ORANGEBURG, N.Y. — Daikin America Inc. is investing $60 million to expand fluoro(ethylene-propylene) copolymer and ethylene tetrafluoroethylene copolymer melt-processible fluoropolymer capacity at its Decatur, Ala., plant.
The project, which is scheduled to be finished in October 2012, will boost capacity there by more than 50 percent, according to the Orangeburg-based subsidiary of Osaka, Japan-based Daikin Industries Ltd. The company cited demand from wire and cable, photovoltaic, aerospace and automotive customers.
Daikin America said in a news release that the project had been planned prior to the 2008 recession, but had been delayed.
Daikin Industries also plans to build a $38.2 million fluoroelastomer factory in Changshu, China, to meet automotive demand.
All American Poly's Staszczak dies at 57
NEWARK, N.J. — Walter Staszczak, corporate manager and purchasing director for film and bag maker All American Poly Corp., died Aug. 7 of cancer at age of 57.
He was born April 17, 1955, in Irvington, N.J. He had been at the Piscataway, N.J.-based company since its inception in 1979.
“Walter was well-respected throughout the plastics industry, as he was known for his tireless work ethic and his humble approach for someone in his capacity,” the firm said in a news release.