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September 1, 2019
#8 Largest Blow Molder Kautex May Be Up For Sale Soon
#8 Largest Blow Molder Kautex May Be Up For Sale Soon
Blow Molding Machine
Textron Inc is considering new, strategic options for its blow molding unit, Kautex, such as a "sale, tax-free spinoff, or other transaction." Kautex is the 8th largest blow molding company in North America. They produce blow molded fuel tanks, advanced fuel systems, and multiple other items in the automotive industry. This is a big change for a company with a long history of innovation and high quality product. Kautex was founded in 1935 and developed the earliest European blow molding machine in the late 1940s. No official decision has been made but it is good to expect a big move to take place.
You can view more on this big move in the blow molding space here.
You can view more on this big move in the blow molding space here.
September 2, 2019
60 Workers Losing Jobs at Alabama Film Plant
Berry Closing Alabama Plastic Film Bag Plant
On September 27th, Berry will be closing 1 of 2 film plants in Alabama due to declining demand. The announcement was made on Jul 24 to comply to the federal Worker Adjustment and Retraining Notification act. This plant's main product was the plastic food bags you would typically see wrapped around a sandwich or similar food item. This plant was acquired in 2016 in the AEP deal, through which the company aquired 14 US based flexible packaging plants.The deal brought in an extra $1.1 million to Berry's annual sales. 60 workers will be losing their jobs, but Berry plans to work with employers to make sure this transition is smooth and easy for all employees.
You can read more about this plastic packaging and film plant closure here.
You can read more about this plastic packaging and film plant closure here.
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