Glass Group buys defunct firm’s mold equipment

The Glass Group Inc., whose corporate headquarters is in this city, has purchased the mold equipment used by Carr Lowrey Glass Co. to produce specialty glass bottles and bottles for the cosmetic and pharmacy industries.

Paul Weikel, vice president of engineering and chief engineer, said that a still to be determined number of key Carr Lowrey employees will be joining The Glass Group team.Most of them probably will be going to The Glass Group's plant in Flat River, Mo., but some individuals might be join the sales/service group that operates from corporate headquarters here.Carr Lowrey, founded in 1889, closed its Baltimore, Md., factory on Friday, Weikel said.The operation manufactured cosmetic and specialty glass products with annual sales of approximately $20 million.

While no immediate impact is expected on the employment picture in Millville, Weikel said the long-term potential impact could be very positive on The Glass Group's operations because it strengthens its market position.

The Glass Group is the largest producer of small specialty molded glass containers in the United States, according to Weikel. The operations employ approximately 1,600 people in Millville, Mays Landing, Williamstown and in Flat River, Mo.

The company also holds a major interest in Beijing Wheaton Glass Co. in China.

"This appears to be a very positive expansion of The Glass Group's business," said Donald Ayres, local economic development director. "We hope it will mean a future increase in employment in Millville."

Currently, around 500 employees of The Glass Group are on temporary layoffs because of inventory adjustment and scheduled maintenance of the furnaces, the company previously announced. One furnace is slated to be back in production on July 10 and the other on July 28.

The Glass Group's top management team collectively has more than 135 years of experience in the glass industry.

Principal officers are Ken Rock, chairman and chief executive officer; Leonard Nave, vice chairman and general counsel; James DeRuosi, vice president of sales and marketing; Tom Pease, vice president of administration and finance, and Weikel.

600450 Glass Group buys defunct firm’s mold equipment
Date: 20 June 2003

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