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Ontario establishes venture-capital fund
Ontario is taking an idea from the Israelis' playbook to help boost its struggling manufacturing sector. Following the example of the Yozma fund begun in 1993, it has created a venture capital fund worth $165-million with four major Canadian institutional investors: OMERS Administration Corp., RBC Capital Partners, the Business Development Bank of Canada and Manulife Financial Corp. These companies are contributing $75-million, with the balance coming from the province.
"We are supporting this VC fund because we think it's the right initiative at a time when the supply of venture capital in Ontario is less than optimal and investment returns have been rising," said William Eeuwes, vice-president and head of Manulife's merchant banking arm.
John Wilkinson, Ontario's Minister of Research and Innovation, said this would be a ‘fund of funds' that acts as a fund manager working on behalf of the province and the private sector partners. He added that his goal was to attract more partners and expand the fund up to $270-million, an amount to be spread among various manufacturing sectors.
"Ontario has been suffering from a dearth of venture capital since the burst of the dot-com bubble," Wilkinson said. "We believe we are sending a strong signal that we're open for other institutional investors to join this fund" He added that the province and its partners hope to see a financial return on their investments.
Many new firms are forced to seek foreign funding, primarily from the US, to support product development. Companies dependent on US funding at an early stage are more likely to relocate their headquarters, and jobs, to US cities once their products are commercialised.
Serge Lavoie, president of the Canadian Plastics Industry Association, welcomed the announcement, while expressing concern over its range.
"It's good news there is more attention being paid to the manufacturing base in Ontario," he said. "The provincial government realises we are losing capacity.
"But we still have to recognise that general manufacturing needs assistance as well. We are not looking for grants and hand-outs, but there is still a problem to be addressed. We would like to see something less targeted at a narrow band of manufacturing like future technology."
www.mri.gov.on.ca
Woodbridge Group inks new deal with INOAC
The Woodbridge Group (Mississauga, Ont.) has extended its long-term alliance with Japan's INOAC Corp. with new joint-ventures that take effect December 31. Woodbridge will purchase 50 per cent of INOAC's moulded urethane foam operation in Kyushu, Japan, and INOAC will purchase 50 per cent of four Woodbridge slab foam and flame lamination facilities that supply products to the automotive industry.
Woodbridge's acquisition completes a network of jointly owned facilities in Japan that serve the Japanese market. In North America, the joint venture includes facilities in Saltillo, Mexico, and three facilities in Texas.
These acquisitions form part of a global network called the World Polyurethane Alliance, whose members manufacture foam-based products. The Alliance creates a base for seamlessly serving automotive customers, wherever they are around the world.
INOAC was the pioneer of PUR foam in Japan in 1954 and has continued to pioneer new foam products and processing technologies. Today, it has over 100 facilities in 20 countries.
The Woodbridge Group has 63 facilities in 21 countries. It makes components for seating, structural support, occupant protection, headliner systems and acoustical management, as well as a full range of value added services.
www.woodbridgegroup.com
Date announced for NPE2009 space draw
The space draw for NPE2009 is slated for February 19 and 20 next year. The exhibitor section of the show's website is now live at www.npe.org. NPE2009 will take place at Chicago's McCormick Place from June 22-26, 2009. The space draw is also at McCormick Place, in the new McCormick West building.
For the first time, the progress of the drawing will be reported digitally on floor plans visible on the screen in the ballroom and remotely, via Internet access, to officials of participating companies around the world. To participate in the drawing, however, a company is required to send a representative to the event in Chicago.
For the drawing, SPI will sign up companies wanting to use a new program of sponsorships that will promote their presence at NPE. SPI is also developing innovations that will make exhibiting easier and more profitable, according to Gene Sanders, vice-president in charge of trade shows at the Society of the Plastics Industry, Inc., which owns NPE.
"SPI is working on pricing packages that will streamline budgeting for exhibitors by combining every major cost element into one invoice," he says. "We're planning a sponsorship program with vastly more opportunities than ever before for exhibitors to promote their participation in the show. And we have other innovations in the works that will help exhibitors maximise their trade show investment – for example, a theatre in McCormick West where they can make half-hour presentations dramatising the benefits of their new products."
NPE 2006 attracted 1,838 exhibitors on 942,524 sq ft (87,600 sq. m) of net space; 33 per cent of them came from outside the US. Of 64,438 industry professionals who attended, 23 per cent came from 114 outside countries.
www.npe.org
SABIC IP realigns businesses
SABIC Innovative Plastics has made some major moves since it ceased to be GE Plastics. It has sold Azdel Inc. (Lynchburg, Va.), its 50/50 thermoplastic composites joint-venture with PPG Industries, to Hanwha Living & Creative (L&C) Corp. The acquisition allows Hanwha to expand its offering of composite and advanced material solutions for the transportation and industrial segments. Terms were not disclosed.
Azdel has entered into a long-term strategic supply arrangement with SABIC IP and PPG whereby SABIC IP will supply thermoplastic resins continue to work with Azdel through a joint development agreement to bring new innovative products to the industry. PPG will continue to supply fibreglass reinforcement materials to Azdel under a long-term supply agreement.
Next, SABIC IP is divesting its share in a 12-year joint venture with BASF Aktiengesellschaft, which produces polybutylene terephthalate (PBT) resin in Schwarzheide, Germany. As part of this divestiture, SABIC IP will ensure continuity of supply for European customers through a contract to purchase PBT resin from BASF for a defined period of time. The transfer is expected by December 31st.
This realignment of resources allows SABIC IP to focus on different PBT technologies including resin based on terephthalic acid (TPA) feedstocks and iQ PBT resin, which uses a process that reduces CO2 emissions and energy usage.
At the same time, SABIC IP is expanding its LNP Faradex family of specialty compounds to help electronics manufacturers achieve lighter-weight, thinner-wall housings with enhanced shielding capability. The new Faradex compounds can deliver better electromagnetic interference/radio frequency interference (EMI/RFI) shielding performance without increasing their loading of stainless steel fibres, thereby keeping costs and part weight down.
Faradex compounds are alloys of polycarbonate and acrylonitrile butadiene styrene (PC/ABS). They include three grades featuring non-brominated, non-chlorinated flame retardants (FR) for compliance with such environmental regulations as the EU's WEEE and RoHS directives, and other eco labels. The two non-FR grades offer higher impact resistance than previous Faradex compounds. Varieties of other base resins are also available based on customer requirements.
www.sabic-ip.com.
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Changes
W. Amsler Equipment Inc. (Richmond Hill, Ont.) has added John Kowal to its sales team. As the blow moulding projects manager, he is responsible for promoting and selling the company's PET stretch blowmoulding equipment and ancillaries to the Canadian market. He has an eclectic plastics background since the 1980s that includes sales in injection moulding, extrusion, blow moulding and all ancillary equipment. He has also started up several injection and blow moulding plants in Canada, the US and Europe.
www.amslerequipment.net
Frigel North America (Lake Zurich, Ill.) has hired Bill Lewis as marketing manager. He will be responsible for overseeing all Frigel marketing communications and sales support programs. He has an extensive marketing background, most recently with the Association of Rotational Molders International (ARM), Oak Brook, Ill., where he was responsible for member communications, public relations and website maintenance.
www.frigel.com
Bill Lewis
Husky Injection Molding Systems Ltd. (Bolton, Ont.) says orders for its preform moulds and systems increased more than 13 per cent in fiscal 2007 and were the highest in company history. This represents the second consecutive year in which Husky has achieved a record breaking number of orders for this market.
www.husky.ca
Beta LaserMike, a manufacturer of precision measurement and control systems, has created a new business unit, headed by Bruce Gaynor, to focus on providing length and speed measurement solutions to the on-line gauging market. Its LaserSpeed non-contact length and speed measurement gauges use Laser Doppler Velocimetry to measure the length and speed of any moving product or surface to an accuracy of +/- 0.05 per cent or better.
www.betalasermike.com
Thermoplastic elastomer compounder GLS Corp. (McHenry, Ill) has been purchased by PolyOne Corp. (Avon Lake, Ohio). No sale price was given. GLS also has a plant in Suzhou, China.
www.polyone.com
Marcus Schramm has taken over responsibility for all production operations and for broad areas of technology at KraussMaffei's injection moulding machinery division. He has held management positions at Siemens Dematic, Mannesmann Dematic and Rexroth.
www.kraussmaffei.com
Marcus Schramm
Inergy Automotive Systems (Blenheim, Ont.) is closing its blow moulded fuel tank operations, and is consolidating manufacturing in Adrian, Mich. Inergy, a joint-venture of Solvay SA and Plastic Omnium, expects to add 189 jobs in Adrian.
www.inergyautomotive.com
Dow Chemical Co. has completed the sale of its Ethafoam performance foam business to Sealed Air Corp. Financial details were not disclosed. Sealed Air acquires global rights to certain assets relating to the Dow Ethafoam polyethylene foam product lines, including a licence to process technology, customer contracts, trademarks, and certain production and process equipment. The products include PE-based foam products sold under the Ethafoam, Envision, Synergy And Equifoam trademarks. In addition, Sealed Air has acquired the rights to the Lamdex trademark.
www.sealedair.com
Promens Canada Inc. plans to close its rotational moulding plant in Lindsay, Ont. The facility will shut early in 2008, when production will be sent down to other Promens plants. Lindsay employs 80 staff, but has reportedly been hurt by the high Canadian dollar.
www.promens.com
Flexicon Corp. (Bethlehem, Pa.) has doubled its engineering department, in both area and manpower. The space previously occupied by engineering also allowed a corresponding expansion of the technical service and applications engineering departments.
www.flexicon.com
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Coming
Events
November 29: Seminar on Scientific Research and Experimental Development (SR & ED), at the Ciaciaro Club, Windsor, Ont. (Contact: Ed Bernard at 519-567-2459 or ed@bernardmould.com)
November 29: First Quebec Forum on Lean Plastics & Composites. At Hôtel des Seigneurs, St-Hyacinthe, Que. Organised by Quebec region, CPIA. (Contact: Maryse Lavigne at 450-641-5923 or mlavigne@acipquebec.ca)
December 5-8: Euromold is the world's largest mould, tool and die event, held at the Exhibition Centre, Frankfurt, Germany. (www.euromold.com).
December 6:
Information session on the safety group for the tooling industry. At CPIA offices, Mississauga, Ont. (Contact: Julie McFarlane at 519-653-7265 or info@ctma.com).
December 7: Annual Christmas Dance of SPE Ontario, the industry's leading Christmas event. At the Delta Meadowvale Hotel, Mississauga, Ont. (Contact: Penny Perdis at 905-820-5938 or pennyperdis@sympatico.ca)
2008
February 12: Plastic Film Manufacturers Association of Canada's Triple M Technical Conference, with table top exhibits. In the Toronto area. (Contact: Marilyne Berman at 905-678-7748 or mberman@cpia.ca).
March 12: Space draw for Expoplast 2008. Details to follow. (Contact: Tom Sockett at 905-678-7748 or tsockett@cpia.ca).
April 6-9: The International Card Manufacturers Association (ICMA) Annual Expo will be held at the Loews Royal Pacific Resort in Orlando, Fla. (Contact: Stacy Flint at 609-799-4900, ext. 62, or SFlint@icma.com).
April 8-11: Plastimagen 2008, Mexico's premier plastics show, at Centro Banamex, Mexico City (Contact: Guadalupe Olvera Arellano at 52-55-1087-1650 or golvera@ejkrause.com)
September 30 - October 2: Interplas 2008, Britain's national plastics show, at the Birmingham NEC, UK. (Contact: Graham Earl at 020 8910 7890 or graham.earl@reedexpo.co.uk).
October 20-21: Expoplast 2008, Quebec's triennial plastics show, at the Palais de Congres in Montreal. (Contact: Tom Sockett at 905-678-7748 or tsockett@cpia.ca)
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Coming
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February issue
Automotive exterior components
Mould steels- what's new
Extrusion report on sheet and profile production
Injection moulding – Developments in controls
Spotlight on Chillers
Raw materials report
Processor profile
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