International Converting Industry News
- Published: January 01, 2003, By Deborah Donberg, Associate Managing Editor
Covering the Full Spectrum of Industry News, Events & Activities
Supplier News
Corotec Adds Far East Agent
FARMINGTON, CT — Corotec Corp. has hired Kar Ming Industrial Supplies of Hong Kong as sales agent for China, Hong Kong, and Macau. Kar Ming, led by William Ho as general manager and Tony Ho as sales director, also has offices in Shanghai and Foshan, China.
Valmet Equipment Helps Dubai Meet DemandsBEDFORD, U.K.—Valmet Converting confirms a recent order in excess of (US) $5 million was received from Dubai Polyfilm of the United Arab Emirates.
The order comprises one 8-m-wide Atlas primary film slitter; one Atlas CW800 2.5-m-wide slitter/rewinder; and two 2,850-mm-wide General “K” Series vacuum metallizers. The first machines are scheduled to be delivered during the summer.
Reportedly the order follows substantial investment in a new plastic film product line at Dubai. It is the third film line to be installed as the company continues to expand to meet increasing demand, especially in the flexible packaging sector.
PCMC Will No Longer Manufacture in Plymouth
GREEN BAY, WI, USA—Paper Converting Machine Co. (PCMC) will cease manufacturing new machinery at its Plymouth, U.K., facility.
Explains PCMC president and CEO Rick Baer, “The discontinuation of manufacturing at PCMC Ltd. will be a phased program affecting approximately 200 employees and concluding in the second quarter of 2003. PCMC Ltd. will successfully complete the orders on hand, both on schedule and with a high level of quality.”
PCMC Ltd. reportedly will continue as a sales and customer service operation to market and sell PCMC's equipment lines in defined market areas and to provide continued strong customer service support for both installed PCMC equipment as well as future installations.
Acquisitions
DuPont Acquires Atofina Assets
PARIS, FRANCE— DuPont Chemical Solutions Enterprise reports the completion of the acquisition of the surface protection and fluoroadditives business assets of Atofina, the chemicals branch of French oil/energy conglomerate TotalFinaElf. Financial terms were not disclosed.
DuPont also says it has appointed M. Yves Kirpach regional business leader for the DuPont Surface Protection business to strengthen its presence in the European region.
Sicpa, Flint Ink Report Business Transactions
LAUSANNE, SWITZERLAND—The Sicpa Group and Flint Ink Corp., Ann Arbor, MI, have agreed in principle to several business transactions in which Flint will acquire Sicpa's worldwide heatset and coldset inks business and Sicpa will acquire Flint's worldwide security inks business (inks used for printing currency, stamps, and other negotiable instruments).
The two companies expected to finalize definitive agreements on the terms by the end of 2002, following completion of due diligence and the grant of necessary board approvals.
Divestitures
Jagenberg Continues Strategic Realignment
DÜSSELDORF, GERMANY—Jagenberg Group reports key companies of the Paper Technology Div. have been sold to the Voith Group. The sheeter business was spun off into Jagenberg Querschneider GmbH, Neuss, and Jagenberg Converting Inc., Enfield, CT. On June 17, 2002, Bielomatik Leuze GmbH + Co., Neuffen, Germany, took over Jagenberg Querschneider GmbH and Jagenberg Converting Inc., retroactive to Jan. 1, 2002. These moves are part of the Jagenberg Group's strategic realignment.
