Window firm Profine sold to Hidden Peak
FRANKFURT — Troisdorf, Germany- based window profile manufacturer Profine GmbH has been acquired by Hidden Peak Capital, a Frankfurt-based private equity firm.
Hidden Peak acquired the Profine shares of former owner, Arcapita Bank BSC of Bahrain, which filed for Chapter 11 creditor protection in March.
In a statement, Hidden Peak managing partner Peter Mroski said Profine's strong building product brands — KBE, K"mmerling and Trocal — hold a “powerful position” in the global market and his company is expecting “excellent growth” from them.
The deal price was not disclosed.
Profine is the only operating unit of parent HT Troplast. It makes profiles for windows and doors, shutters and façades. Its K"mmerling brand includes extruded PVC trim and sheet. In 2009, Profine closed a plant after demand for its profiles dropped by about 30 percent in all regions.
Profine reported 2011 sales of about 700 million euros ($975 million). The company employs about 3,200.
Sabert Corp. adds solar panels in N.J.
SAYREVILLE, N.J. — Sabert Corp., a food-packaging thermoformer and injection molder, is soaking up the sun at its New Jersey headquarters.
Sabert recently launched solar energy systems at its Sayreville research and development center and manufacturing facility.
The roof-mounted solar arrays can generate enough clean energy to offset the company's electricity costs — about 3 million killowatt-hours of clean energy in the first year, according to a news release.
According to the release, 3 million kwh is equivalent to more than 5 million pounds of carbon dioxide, or comparable to taking 494 vehicles off the road or conserving 5,857 barrels of oil.
The 3.176-megawatt roof mount systems were installed last fall by Branchburg, N.J.-based Vanguard Energy Partners LLC, a solar construction firm.
This is Sabert's second solar installation. The company also has a solar system at its facility in Riverside, Calif.
Walbro opens tank plant in Thailand
TUCSON, ARIZ. — Walbro Engine Management has opened a multilayer fuel-tank blow molding plant in Chonburi, Thailand.
The Chonburi facility is Walbro's second fuel-tank production facility. The company's Cass City, Mich., plant recently was expanded to accommodate a fourth blow molding machine.
The 20,000-square-foot Chonburi plant will help customers deal with regulations that require tanks to meet more stringent clean-air standards. The plant will supply tanks used in lawn and garden, recreational and marine applications to customers in the Asia-Pacific region.
“Evaporative emission regulations are growing more stringent around the globe,” Tony Martin, president and CEO of Walbro Engine Management, said in a news release.
Tucson-based Walbro Engine Management makes six-layer tanks with a vapor barrier to contain hydrocarbon emissions.
Currier Plastics adds 3 blow molding lines
AUBURN, N.Y. — Custom molder Currier Plastics Inc. recently invested $1.75 million in new equipment, adding three Automa blow molding machines and expanding its ability to produce higher-volume and larger-size containers.
Currier installed two Automa AT 400D machines and an AT 700D machine in the first quarter of 2012, said Steve Valentino, molding manager.
“We replaced four machines and these actually produce more than they did,” Valentino said.
The company has carefully filled out its footprint in its current facility and it is considering plans for expansion, he said.
Project manager Steve Feaster said the new machines will produce a quick return on investment because they increase the company's ability to mold at higher cavitation.
Currier has been molding products for 30 years. The Auburn-based firm offers product design, injection molding, extrusion blow molding and injection stretch blow molding.
Valentino said sales increased 17 percent last year and the firm expects about the same this year. He credited what he calls a “V-squared” philosophy emphasizing value and velocity — adding that Currier usually can quote a project in 48 hours.
Valentino said projects that had been made overseas but are returning to the U.S. have helped boost sales.
“I would say that we've had at least six contracts come back,” he noted.