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Plastics News (UK) 08/14/2020 15:35
German technology company Continental AG and supplier Aft Automotive are starting a 50-50 joint venture to manufacture high-performance plastic couplings for the auto industry. Since 2016, the two companies have developed special couplings that connect the cooling circuit or the turbocharger/charge-air cooler with units in the engine compartment, an Aug. 10 news release by Continental said. The formal partnership will expand the technology into the lines, hoses and connectors that are essential to the thermal management systems of hybrid and electric cars, which require multiple cooling circuits, and in cars with internal combustion engines. The joint venture is expected to create more than 30 jobs by 2025, Philip Nelles, head of the Mobile.
Plastics News (UK) 08/14/2020 09:50
GPK Products Inc. officials rejected a recommendation from a state health official to close their Fargo, N.D., facility in May after some of the 200 workers tested positive for COVID-19. However, all safety protocols were — and are — being followed to manufacture PVC pipe fittings for essential customers with municipal water works projects, according to President and CEO Brad Keller. Founded in 1972, GPK Products grew into the largest producer of PVC sewer fittings in North America for the water works industry. "Our products are used for underground work — the municipal sewer fittings from the house to the street," Keller said in a phone interview.
Plastics News (UK) 08/14/2020 08:30
Momentum toward growth for public, private companies. Turns out 2020 was a good year for Azek Co. Inc. to go public. The maker of plastic composite decking and railing reported its on Aug. 13 and said net sales for its residential business was up 5.5 percent compared to the same time in 2019, with sales in June alone up 15 percent. "As the quarter progressed, we saw momentum improve within our residential segment as channels reopened, new construction restarted, stay-at-home orders were eased in certain regions and homeowners continued to invest in home improvement and their outdoor living spaces," CEO Jesse Singh said in written comments. While the costs related to Azek's initial public offering led to a net loss of $52.1 million for the qu.
Plastics News (UK) 08/13/2020 16:28
General Motors plans to hand off ventilator production at its Indiana parts facility to Ventec Life Systems by the end of the month as it completes its government contract to build 30,000 ventilators to help treat coronavirus patients. GM has delivered more than 20,000 ventilators to the National Stockpile and expects to send the remaining 10,000 by the end August, said spokesman Dan Flores.
Plastics News (UK) 08/13/2020 16:01
Medical injection molder Phillips-Medisize Corp. is closing a 136,400-square-foot production facility in Eau Claire, Wis., and permanently laying off approximately 98 employees. The layoffs will begin Oct. 15 with 55 employees. A second layoff will eliminate another 43 positions which "will take place in phases and is expected to be complete by" Dec. 15, Phillips-Medisize said in a . The closing was announced in a , which stated the facility employed 230 people at the time. Employees will receive pay and benefits for "at least a full 60 days" from the date they are laid off, the notice said. "We will continue to keep our employees closely advised as to their anticipated separation dates," it added. The affected employees are not represented.
Plastics News (UK) 08/13/2020 11:52
Canadian auto supplier Magna International Inc. joined many of its North American peers in reporting a massive drop in revenue and posting a sizable loss for the second quarter, but showed signs of progress toward the end of the quarter as auto production resumed amid the pandemic. it swung to a net loss of $647 million from a gain of $452 million during the same quarter last year.
Plastics News (UK) 08/12/2020 13:41
in Glenwillow has acquired Houston-based HAZMATPAC Inc., according to a . Terms for the deal aren't being disclosed. Annual revenue and employee numbers are also not being shared publicly. Pipeline Packaging is a distributor of rigid industrial containers, and HAZMATPAC makes and distributes packaging containers for hazardous materials. HAZMATPAC, which has locations in Houston and Philadelphia, will operate as a wholly owned subsidiary of Pipeline Packaging. Pipeline Packaging is itself a subsidiary of the Cleveland Steel Container Corp. Pipeline Packaging also makes industrial packaging including pails, drums, tubs and closures. "This acquisition represents a significant product line extension for our company and an exciting opportunity t.

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