Wirthwein building $12M SC molding site
CREGLINGEN, GERMANY — German auto supplier Wirthwein AG is expanding its North American production with a $12 million plant in Fountain Inn, S.C.
South Carolina Plastics LLC will be a subsidiary of Wirthwein's Carolina Technical Plastics Corp. and employ 119 people, state officials announced in an Oct. 3 news release. The South Carolina plant will produce parts such as door modules, door handles, cable-drum housings and seat-belt covers.
Wirthwein is based in Creglingen, and does molding and mold making. Carolina Technical Plastics of New Bern, N.C., has production for both the auto and home-appliance industries.
Hiring will begin in the coming months, with production set to launch by February, company officials said.
The state provided an $825,000 grant to help finance the project.
Private equity firm nabs BWay for $1.24B
ATLANTA — BWay Parent Co. Inc., a rigid packaging supplier that operates through its subsidiary BWay Corp., has been acquired by private equity firm Platinum Equity LLC in a deal worth $1.24 billion.
Los Angeles-based Platinum Equity will acquire BWay Parent Co. from funds managed by Madison Dearborn Partners LLC via a merger. BWay's senior executives, along with a number of other employees, will invest alongside Platinum.
The deal is being financed through a combination of equity and debt financing, and is expected to close in the fourth quarter of 2012.
Chicago-based Madison Dearborn acquired BWay in 2010.
Atlanta-based BWay Corp. makes rigid packaging — including pails, drums and tight-head containers — from plastic, metal and hybrid materials. It operates 22 plants in the U.S. and Canada.
Earlier this year, BWay sold its blow molded bottle business to Oakland, Tenn.-based Ring Container Technologies Inc.
BWay Corp. reported sales of $1 billion in 2011. Plastics represented about 40 percent of the company's net sales in 2011, according to SEC filings.
Fire destroys Colt, Ark., molding plant
COLT, ARK. — Fire destroyed plastics injection molder K-Tops Plastic Manufacturing Inc. of Colt, according to several local news reports.
The blaze occurred the night of Sept 29. No one was in the 200,000-square-foot plant and no injuries were reported.
K-Tops makes a range of plastic and metal products for applications such as electronic packaging and textiles, the company says on its website. Reports estimated employment at the plant at between 70 and 100.
It has a sister plant in Dongguan, China.
Los Angeles-based Q-Tops Plastic Manufacturing Inc. formed K-Tops in 2005. The Los Angeles operation has since closed.
The fire had been burning for hours before someone called emergency services, one report stated.
“It was unsafe to send the firefighters in,” Shane Dallas, with the St. Francis County Emergency Management, told WREG TV in Memphis.
Attempts to reach company officials and fire personnel were unsuccessful as of press time.
Although there were no dangerous chemicals in the building, plastics stored inside helped feed the fire, according to Dallas.
Expanding Injectronics adding press
CLINTON, MASS. — Injectronics Corp. is adding an 88-ton Sumitomo injection molding machine in its Clinton Class 8 clean room to prepare for growth in its diagnostics disposables business.
The Clinton-based company said the new press will be installed in November. It also plans to add a 200-ton machine in the first quarter of 2013.
“Our equipment investment strategy calls for purchasing machines that are specified to match our customer's product needs. The new presses will be dedicated to critical new diagnostic components. We are fortunate to have the ability to work with customers that are leaders in this field,” Paul Nazzaro, president and CEO, said in a statement.
Injectronics, which has facilities in Clinton and Westborough, Mass., completed a $1.5 million expansion in June that updated both facilities.