PVC CONTAINER ANNOUNCES NEW BLOW MOLDING PLANT IN PARIS, ILL.
PVC CONTAINER ANNOUNCES NEW BLOW MOLDING PLANT IN PARIS, ILL. PARIS, Ill., Oct. 16 /PRNewswire/ -- PVC Container Corporation (NASDAQ: PVCC) announced today the construction of a new 62,500-square- foot plastic bottle manufacturing facility in Paris, Ill., has commenced. The announcement was made by Phillip L. Friedman, president and chief executive officer, at a formal ground-breaking ceremony here today. "This is a major milestone in our company's history," Friedman said. "This new plant changes PVC Container's strategic position from a regional supplier of extrusion blow molded plastic bottles to more of a national plastic packaging company in our markets. The new plant located at this site, here in East Central Illinois, will service our existing and growing Midwest customer base by providing a more freight logical point of manufacture and shipment for our customers in this region. We chose Paris, Ill., after an extensive site search, as a community and area that fulfill many of our requirements that will make this new blow molding facility a success. We are extremely pleased with the cooperation and assistance we have received at the municipal and state levels which contributed to making this project feasible, and look forward to becoming an active corporate citizen of Paris." "The company is making an initial investment of $5 million in new plant and equipment. When fully occupied, the initial phase of the project will increase the company's blow molding capacity by approximately 50 percent. Decorating and other secondary operations are planned for the future. We expect to start up this new facility in April 1993. The new plant will be constructed on a 20-acre site, which will allow ample room for the company to continue to expand its operations in the future." It was noted that in 1989 the company had completed the construction of a 105,000-square-foot state-of-the-art blow molding facility at its headquarters in Eatontown, N.J. This facility had reached its full capacity early this year, which necessitated the need for another grass-roots plant. "Our company is deeply committed to the plastic bottle business. We have continued to make multimillion-dollar investments in the latest technology in our business. We have evolved into more than just a specialty supplier of plastic bottles made with PVC and now enjoy a major position in extrusion bottles made with High Density Polyethylene (HDPE), Glycol modified polyester (PETG), and most recently are developing capabilities to offer extrusion grade Polyethylene Terepthalate (PET). We are also marketing conventional injection PET bottles made under a strategic alliance with a major Canadian molder." It was noted that the packaging industry is increasingly concerned about the importance of recycling. In this connection Friedman said, "Our company will be introducing in the near future a capability to manufacture three-layer co-extruded HDPE bottles that can incorporate a minimum of 25 percent post-consumer regrind. We are also developing 25 percent post-consumer PVC monolayer bottle technology in conjunction with our wholly owned subsidiary, Novatec Plastics & Chemicals Co., Inc." It was noted that Novatec has been engaged in an active R&D effort to develop a family of post-consumer content compounds called NOVACYCLE(TM). Novatec is a major supplier of PVC compounds to the blow molding industry. "We plan on having this capability at both manufacturing sites, which will further enhance our company's capabilities," Friedman said. "The addition of this new plant and new capabilities clearly puts PVC Container on the map as an emerging major factor in the plastic bottle market. We look forward to celebrating our 25th year with the opening of this new facility next spring." PVC Container Corporation, founded in 1968, is headquartered in Eatontown, N.J. PVC Container is a major producer of plastic containers for the packaging industry. Its wholly owned subsidiary, Novatec Plastics & Chemicals Co., Inc., is a leading supplier of PVC compounds and specialty plastic alloys in the United States. The company's stock is traded under the NASDAQ symbol PVCC. -0- 10/16/92 /CONTACT: Fran Mazzaro of PVC Container Corporation, 908-542-0060/ (PVCC) CO: PVC Container Corporation ST: New Jersey, Illinois IN: PAP SU:
CK-OS -- NY025 -- 0889 10/16/92 11:04 EDT
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|Date:||Oct 16, 1992|
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