Glass Group buys defunct firm’s mold equipment

Date: 20 June 2003
Source: Pressofatlanticcity.com

Date: 20 June 2003

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 glassonweb.com

See more news about:

Others also read

MORE...

Southwall Technologies Secures New Bank Loan and Equity Financing Agreement Led by Needham & Company
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Emirates Glass wins major deals
Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Micro-Tek Canada, Inc. and Co-Ventures in Glass Containers, Ltd.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
Autoglass maker dumps dumping charges
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
History of Glass Wine Bottles
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair's Specialty Gases Plant Attains New ISO 9000 Standard
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.

Add new comment