Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Article excerpt

ST. LOUIS SPARTECH Product Components Acquisition Complete

Spartech Corp., a manufacturer of rigid plastic sheet and roll stock, has completed the acquisition of Product Components Inc. for about $8 million, exclusive of working capital requirements.

The acquisition adds manufacturing plants to Spartech at Richmond, Ind., and Clare, Mich, said Bradley B. Buechler, Spartech president and chief executive. Product Components has annual sales of about $30 million, he said.

Spartech now has eight extrusion plants and expects to produce 20 percent of the $900 million U.S. market for custom rigid sheet and roll stock in the next year, he said.

***** NATIONAL THE ECONOMY Factory Orders In '93 Highest In Five Years

Orders flowed to the nation's manufacturing plants at the briskest pace in five years during 1993, the Commerce Department said Thursday. New factory orders in December grew 1.2 percent to a seasonally adjusted $266 billion, a fifth straight monthly increase. For all of 1993, orders climbed 5.9 percent to a total $3.1 trillion, the strongest rise since 8.4 percent in 1988.

A separate report from the Labor Department showed claims for unemployment pay leaped by 59,000 in the final week of January to 422,000, the highest level in a year and a half. But analysts discounted the significance of the figures because severe winter weather and the California earthquake may have distorted them. Reuters

***** STEEL National Steel's Chief Operating Officer Quits

National Steel Corp. said Thursday that James Howell, senior vice president and chief operating officer, resigned to pursue other career interests, effective immediately. …

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