Canadian Plastics

News Briefs (May 01, 2008)

Waterloo, Ont.-based rotational molder RTS Plastics Inc. has purchased NEO Plastics, a bankrupt rotational molding shop located in Austinburg, Ohio.

May 1, 2008   Canadian Plastics



Waterloo, Ont.-based rotational molder RTS Plastics Inc. has purchased NEO Plastics, a bankrupt rotational molding shop located in Austinburg, Ohio.

According to reports, RTS is paying US$550,000 for the real estate and US$330,000 for the personal property of the business. NEO filed for Chapter 11 bankruptcy protection in February 2007, and RTS is purchasing the company from the bankruptcy receiver.

According to Vicki Cegliastro, general manager/controller at RTS, the 33 workers employed by NEO will have to re-apply to keep their jobs, but no job losses are expected to occur.

Blown film equipment supplier Kiefel Inc., of Wrentham, Mass., has appointed Ste. Julie, Que.-based machinery sales firm Auxiplast Inc. as its new representative in Quebec, the Maritime Provinces of New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland.

Converting Supply Inc., an Orangeville, Ont.-based, manufacturer of equipment and converting supplies for the extrusion, packaging and converting industries, has been appointed Canadian representative for Greenville, S. C.-based Gamma Meccanica North America, a supplier of plastic repelletizing systems.

The Bunting Magnetics Company, of Newton, Kan., has acquired Magnet Applications Group Ltd. Magnetic Applications was founded in 1955 and currently has manufacturing operations in and Dubois, Pa., and Berkhamsted, England. The company manufactures and distributes a wide variety of technical bonded magnets, precision magnetic assemblies and complementary magnet products.


Print this page

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *

*