493K Addresses Goa Institute 

493K’s Managing Director, Dr Gareth McDowell, and associate consultant, Dr Nick Henwood, were presented with a BITTS plaque this month, in recognition of their contribution to a seminar at the BRLA Institute of Technology and Science in Goa, India.

Students at the Institute received a seminar introducing them to roto-moulding. Dr Henwood explained the materials used in the roto-moulding process, the benefits to designers and he illustrated examples of products that can be made with roto-resins.

Dr Gareth McDowell, presented from the manufacturing perspective, comparing process control methods used in other plastics processes and the type of machines used.

493K were in Goa as part of the ARMI Conference, during which Dr McDowell gave a presentation on the ‘Roto-Revolution’, a discussion focused on using process control to maximise profits through more efficient manufacturing controls.

INEOS Polyolefins announces extension of Grangemouth PP and PE

INEOS Polyolefins has announced its intention to invest in random co-polymer technology on its liquid pool polypropylene (PP) unit at Grangemouth, Scotland. By linking ethylene supply from its crackers to the PP unit, random co-polymer grades with a wide range of melt flow rates will be produced commencing Q3 2008 for the blow moulding, packaging and medical sectors.
 
In early 2007, INEOS Polyolefins announced the 50ktpa debottleneck of its liquid pool polypropylene unit, raising its capacity to 285ktpa. This investment has now been completed and has enabled the company to implement a further step-change in the asset's capability,
 
As part of its development of the polyolefin platform at Grangemouth, INEOS Polyolefins also intends to introduce swing capability on its 310 ktpa LLDPE plant to produce HDPE grades. This follows the recent development by INEOS Polyolefins of rotomoulding grades at Grangemouth and the appointment of ICO Polymers as its exclusive partner to distribute its range of advanced hexene co-monomer rotomoulding polymers. The new HDPE injection moulding grades will be produced in addition to the existing LLDPE/MDPE grades and will complement the existing HDPE product range.

Government of Canada Grants $195,000 in Funding to Plastique Rotek

Salaberry-de-Valleyfield, Quebec, February 20, 2008 – Jacques Gourde, Member of Parliament for Lotbinière–Chutes-de-la-Chaudière and Parliamentary Secretary to the Honourable Jean-Pierre Blackburn , Minister of Labour and Minister of Canada Economic Development, today announced that Plastique Rotek Inc. will receive $195,000 in repayable funding toward the acquisition of new equipment to help the firm increase its productivity. This project will require an overall investment of $1,742,000 and result in the creation of 20 new jobs over three years.

In operation since 2004, this Salaberry-de-Valleyfield firm recently moved to a new plant and is now proceeding with the acquisition of rotomoulding equipment and moulds for the manufacture of various of its newly-developed products.

"Raising productivity and adjusting to the global economy are key levers for ensuring the success of our enterprises and prosperity of our country. The funding awarded to this young and dynamic firm is entirely in line with the various measures the Government of Canada has put in place–among them the Advantage Canada strategic plan–to help build a strong economy that promises sustainable development and a better quality of life for all Canadians," stated Mr. Gourde.

As well as enabling Plastique Rotek to better meet the growing demand for its products, particularly in the United States, this project will result in job creation in the manufacturing sector. Moreover, it will promote the diversification and consolidation of the Salaberry-de-Valleyfield industrial base, a goal commonly shared by all of the region's economic stakeholders.

"Acquiring this new equipment will enable us to improve our manufacturing processes, which will translate into a 30% rise in productivity and increased profitability. Backed by such key advantages and the unique expertise we have gained through our research and development activities, our company will be in a solid position to strengthen the foothold we have in the North American market and pursue our growth and expansion," explained Plastique Rotek President Benoît Larin.

Plastique Rotek specializes in the design and manufacture of a variety of plastics products. The company uses rotomoulding techniques to produce, among other things, recycling bins for oils and grease, commercial and industrial waste containers and gas meter boxes.

ICO Polymers Signs 10-Year Deal in Allentown

Company Leases 127,500 SF of Industrial Space at Iron Run Corporate Center.

ICO Polymers North America Inc. signed a 10-year lease to occupy 127,500 square feet of industrial space at 6355 Farm Bureau Road in Allentown, PA. Occupancy is planned in April.

ICO Polymers, which is relocating from Asbury, NJ, chose the facility because it was equipped to accommodate a variety of processing needs in compounding services for rotational molding. The effective rent is a low $1.56 per square foot, listing broker Christopher Shiban of Summit Management & Realty Co. said, in part because ICO Polymers agreed to a long-term deal and will finance all build-outs.

6355 Farm Bureau is one of several industrial buildings within the Iron Run Corporate Center. It sits on 13.7 acres off the I-78 interchange and includes about 6,200 square feet of office space.

Deborah Reimer of Reimer Real Estate Inc., and Lee Fein and Michael Zerbe of Colliers L&A, handled the deal for the tenant. The landlord is Jamble Enterprises.

New PIG® Single Drum Pallet Roll Top Hardcover Launched

The ‘New Pig Corporation’ has introduced a covered containment pallet that allows single drums to be loaded and accessed easily -with pumps and funnels in place.

The PIG® Single Drum Pallet Roll Top Hardcover provides protected storage and non-hazardous liquid containment for a frequently accessed drum. Low-density polyethylene construction with UV inhibitors makes the Unit ideal for use indoors or out. Weather-tight and grime-hiding gray in color, the roll top cover is extra-high and wide to enable drum storage with pumps and funnels in place. The 12" high bottom poly pallet is easy to load and unload and can hold up to 61 gallons of leaks, drips and spills from a single drum. Forklift pockets in the pallet allow for easy movement of the Unit.

The PIG® Single Drum Pallet Roll Top Hardcover aids in compliance with 40 CFR 122.26, 40 CFR 262.34(c) (1) and 40 CFR 264.175.

The Unit is available with or without a drain.

In 1985, New Pig invented the first contained absorbent, the Original PIG® Absorbent Sock, changing leak and spill management forever. Built around its award-winning Pigalog® catalog, innovative product line, and legendary service, the company has thrived. Now a multi-channel, multi-brand supplier of innovative liquid management solutions and industrial maintenance products to industrial, institutional, and government facilities in over 40 countries, PIG® products, services, and technical expertise help workplaces get clean, stay clean, and save time and money.

The company's 400 + page Pigalog® catalog features a wide variety of exclusive and innovative PIG® Brand products, including the largest selection of absorbent socks, mats, pillows, pans, and booms in the world. In addition, the expanding product line includes material handling equipment, personal protection apparel, spill response supplies, disposable and pre-moistened wipers, and other workplace safety products.
PIG® products and other quality brands are also available through its web site at www.newpig.com. Other channels offering PIG® products include all Safety-Kleen branches and NAPA stores, select Integrated Suppliers, and B-to-B E-Commerce exchanges.

The company's e-mail address is hothogs@newpig.com and website is www.newpig.com

Chem-Trend Hires Rohatynski-Harlow Public Relations

Howell-based Chem-Trend, a global manufacturer of release agents and other process chemical specialties for the die casting, rotational molding, general rubber, polyurethane, tire, thermoplastics and composites industries, announced that it has selected Rohatynski-Harlow Public Relations as its agency of record.

                                      
Caulfield Returns To Packaging With Gator Europe

David Caulfield, the former managing director of Martin Professional Plc, has returned to the packaging industry at the head of a new venture, Gator Europe. Formed in association with Tampa, Florida-based Gator Cases, Gator Europe will provide local contact and communication for Gator OEM customers, manufacturing 'own brand' case products for companies in the entertainment industry and beyond.

The company has a 400,000sq.ft global manufacturing facility in Dong Guan, China, with 550 workers, and offers a full choice of materials and processes, including PE, ABS, Sewn, Wood, Fabricated, Injection & Rotational Moulding - allowing all types of products to be offered, from lightweight cases right through to heavy duty flightcases.

Founded in 2000, Gator is the largest case supplier in the entertainment industry, selling more than 80,000 cases per month to 90 countries worldwide. The company has over 2,700 dealers in the USA, and distribution takes place from two large warehouses in Tennessee and Utah with a two day UPS ground shipment to 95% of the USA. Gator has been nominated the NAMM accessory product of the year, winning three of the last four years.

Gator's existing OEM business clients include Hewlett Packard, JBL, Yamaha, Teac, QSC, Audio-Technica and Johnson & Johnson. A recent Gator innovation is the launch of G-Track - a GPS/SMS tracking device designed to monitor the security of high value shipments. Developed in-house at Gator, G-Track can be built into individual cases if required.

ICO Polymers Results Released

ICO Inc., global producer of custom polymer powders and plastic film concentrates, has announced its results for the quarter ended December 31, 2007.

First Quarter Highlights

    -- Revenues of $110.9 million, an increase of $24.6 million or 29% from
       the prior year
    -- Volume growth of 8% compared to the first quarter of fiscal 2007
    -- Operating income of $6.5 million, up 51% year-over-year
    -- Income per share from continuing operations of $.13
    -- Outlook remains positive

First Quarter 2008 vs. First Quarter 2007

Revenues were $110.9 million for the three months ended December 31, 2007, an increase of $24.6 million or 29% compared to the same quarter of the prior year. The increase in revenues was due to growth in volumes, changes in product mix and prices and the translation effect of stronger foreign currencies as compared to the U.S. Dollar. Volumes grew 8%, which increased revenues by $8.8 million. Higher average resin prices and a change in product mix at our Bayshore Industrial location increased revenues by $8.5 million. The translation effect of the stronger foreign currencies increased revenues by $7.3 million.

Gross profit increased $4.6 million or 32% to $19.1 million. This was a result of the increase in revenues, an increase in gross margins and the translation effect of the stronger foreign currencies. Operating income improved $2.2 million or 51% to $6.5 million as a result of the improved gross profit partially offset by an increase in sales, general and administrative expenses ("SG&A"). SG&A increased as a result of higher compensation costs, stronger foreign currencies and an increase in external professional fees. The quarter also included $0.2 million of expenses included in impairment, restructuring and other costs that related to costs incurred as a result of the July 2007 fire at our New Jersey facility. Interest expense was also higher due to higher average debt levels in part due to the redemption of 85% of the Company's $6.75 convertible exchangeable preferred stock ("Preferred Stock") in the first quarter of fiscal 2007. Net income increased $1.0 million or 39% to $3.5 million, or $.13 per fully diluted share as a result of the increase in operating income.

First Quarter 2008 vs. Fourth Quarter 2007

Revenues decreased compared to the fourth quarter of fiscal 2007 by $12.7 million or 10%. This was a result of lower volumes sold which decreased revenues by $15.9 million partially offset by the translation effect of stronger foreign currencies compared to the U.S. Dollar. The decline in volumes was in part due to the typical seasonality of the first quarter as well as a slowdown during the quarter in the Australian water tank market.

Gross profit declined $2.3 million or 11% as a result of the revenue decrease, and SG&A increased $0.4 million or 4% primarily as a result of higher external professional fees. In the fourth quarter of fiscal 2007, the Company recorded a net gain in impairment, restructuring and other costs (income) due to recording insurance proceeds related to the fire at our New Jersey facility while in the first quarter of fiscal 2008 the Company recorded expenses of $0.2 million. These items led to a decrease in operating income of $3.2 million or 33%.

"As expected, we experienced our usual seasonal weakness of the first quarter," stated A. John Knapp, Jr., the Company's President and CEO, "but due to the growth we experienced in the last two fiscal years, our first quarter fiscal 2008 operating income exceeded the operating income of the first quarter of the previous year by 51%. Our European and Bayshore Industrial business segments led the way to this increase. Thus far in the second quarter of fiscal 2008, we have indicators that demand will increase from the first quarter; and, we expect to see year-over-year revenue and operating income growth in our second quarter of fiscal 2008."

Balance Sheet and Liquidity

During the first quarter of fiscal 2008, the Company's remaining outstanding Preferred Stock was retired by the conversion by the holders of 44,380 shares of Preferred Stock into 486,321 shares of the Company's Common Stock, and by the Company's redemption of 2,001 shares of Preferred Stock for $0.2 million. Continued earnings and stronger foreign currencies increased stockholders' equity by $7.3 million during the first quarter, to $98.3 million as of December 31, 2007, a level that exceeds our equity position prior to the redemption of the Preferred Stock for $28.5 million in the first quarter of fiscal 2007. Credit available to the Company under committed credit facilities was $52.3 million at December 31, 2007. Capital expenditures were $2.5 million during the first quarter of fiscal 2008.