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January 1/8, 2018 PlasticsNews.com ©Entire contents copyright 2018 by Crain Communications Inc. All rights reserved.
Plastics News Report
Detroit — Four companies have reached the finalist stage for Plastics News’ Processor of the Year Award: MTD Micro Molding, Petoskey Plastics Inc., Plastek Industries Inc. and Trilogy Plastics Inc. The list includes three processors that have been finalists before. Petoskey and Trilogy were finalists in last year’s competition, covering 2016. MTD was a finalist for the 2015 award. Plastek is a newcomer to the finalists’ stage. MTD does micromolding of medical parts in Charlton, Mass. Petoskey Plastics is a blown film manufacturer based in Petoskey, Mich., that specializes in running recycled plastics. Plastek, in Erie, Pa., is a custom injection molder and mold maker of packaging for markets that include See POY, Page 18
Plastics News photo by Jeremy Carroll
Rewarding excellence
MTD Micro Molding PAGE 18
Petoskey Plastics PAGE 19 Paul Keiswetter, president
Plastek Industries PAGE 19
Trilogy Plastics PAGE 20 Bruce Frank, vice president; Steve Osborn, president
Dennis Tully, president
Joseph Prischak, chairman
Industrial blow molder Plastics Group shuts down By Jim Johnson Plastics News Staff A blow molding company with locations in both Ohio and Illinois is shutting down, a move impacting hundreds of workers in two locations. The Plastics Group Inc. has informed workers at its Fremont, Ohio, facility that the location “will be permanently closing.” “I regret to inform you that
Plastics News photos by Don Loepp
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Fremont Plastic Products Inc. will be permanently closing. The closing is expected to occur on or about March 5, 2018. As a result of the shutdown, all employees will be laid off on or prior to that date. Layoffs are expected to start on March 5, 2018 or within 14 days thereafter,” reads a notice supplied by the Sandusky County Economic Development Corp. Fremont Plastic Products is a
subsidiary of the Plastics Group, which also has a location in Willowbrook, Ill., that also is closing, according to a report in The News-Messenger of Fremont. The notice listed Dennis Gerrard as interim president and CEO, but he could not be immediately reached for comment Jan. 5. Gerard became CEO following the departure of longtime See Plastics, Page 22
Crown returns to plastics with Signode acquisition By Jim Johnson Plastics News Staff Transit and protective packaging giant Signode Industrial Group Holdings Ltd. is being sold by Carlyle Group to Crown Holdings Inc. in a nearly $4 billion deal. Carlyle, a private equity firm, acquired the firm in 2014 when Illinois Tool Works Inc. sold off the operations for $3.2 billion. The latest sale price is $3.91 billion. Signode supplies transit pack-
aging consumables and equipment. Offerings include strap, stretch and protective packaging. The Glenview, Ill.-based firm has 93 operations in 40 countries and sells products in about 60 countries. While many acquisitions relying on combining operations and cutting costs to help create savings, Crown CEO Timothy Donohue sees this move differently. “This is not a synergy play. This See Signode, Page 23
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