New Castle News

Current

June 6, 2012

Xaloy being acquired by Ohio firm

NEW CASTLE — A New Castle plastics firm is being acquired by an Ohio company.

Nordson Corp. announced it has entered into an agreement to purchase New Castle-based Xaloy Superior Holdings Inc., based at 1399 Countyline Road. Xaloy also has offices in Germany and Thailand.

The purchase price of the acquisition will be approximately $200 million.

Xaloy is described as a leading manufacturer of melt delivery components for injection and extrusion machinery in the global plastic processing industry. Nordson is a manufacturer of precision dispensing machines for industry involved in the manufacture of consumer products.

According to a press release from Westlake, Ohio-based Nordson, the $200 million purchase price, subject to adjustment as provided in the purchase agreement, will be financed with available credit facilities. The transaction is expected to close during Nordson’s third quarter, pending customary closing conditions and regulatory reviews.

Once the acquisition is complete, Xaloy will operate as part of Nordson’s adhesive dispensing systems segment.

Michael F. Hilton, Nordson president and chief executive officer, said the Xaloy acquisition will be a good fit for his firm. He cited Xaloy’s comprehensive product range that spans the entire plastic processing melt stream.

He said the Xaloy acquisition will add to Nordson’s recent extrusion die product line acquisitions, combining material flow and dispensing. It was noted much of the expansion in the plastics industry is linked to population growth, particularly in emerging markets overseas.

Information provided by Nordson did not say what impact the acquisition would have on production activities in New Castle. A press release indicated more details about the acquisition will be announced at the close of the deal.

However, James R. Jay, director of communications for Nordson, told the New Castle News his company typically acquires other firms with the intent of investing in them and helping them to grow.

While noting he can say little about the Xaloy acquisition until the deal is complete in about 30 to 60 days, he cited two recent examples, Value Plastics and Micromedics, as two firms Nordson recently purchased and is investing in their growth.

“I expect we’ll take a similar approach with Xaloy,” Jay said.

“We’re excited about the acquisition,” Jay added, describing Xaloy as a good fit with Nordson.

Xaloy was founded in 1929 as California-based Industrial Research Laboratories. In 1963, it moved to the eastern United States, eventually acquiring New Castle Industries in 2003.

1
Text Only | Photo Reprints
Current
  • Police.jpg Man busted in morning drug raid

    A drug raid on New Castle’s East Side Wednesday morning netted one arrest. According to Lawrence County District Attorney Joshua Lamancusa, Trent McHenry was arrested in the raid at 919 Beckford St.

    November 27, 2013 1 Photo

  • 4415e771e5806122400f6a7067002cb5.jpg Senator: Deal avoids national ‘disaster’

    5:15 p.m. update — Up against one last deadline, Congress raced to pass legislation Wednesday avoiding a threatened national default and ending a 16-day partial government shutdown along the strict terms set by President Barack Obama when the twin crises began.

    October 16, 2013 1 Photo

  • Body.tiff Man’s body recovered from creek

    Emergency personnel spent 10 hours yesterday combing the Slippery Rock Creek for a man who apparently fell to his death. The man has been identified as 49-year-old Jeffrey Alborn of Hickory Township.

    July 26, 2013 1 Photo

  • Tornado.tiff Dramatic Video: chasing the tornado

    Like other Lawrence County residents, John Fromlak witnessed the power and scope of last Wednesday’s tornado. Unlike, other residents, he didn’t scramble for cover. Instead, he chased after the funnel cloud and shares his dramatic footage.
     

    July 15, 2013 1 Photo

  • Funnel2.tiff Gallery: 12 dramatic photos from the storm

    Wednesday was indeed a wild afternoon in Lawrence County, as a tornado and storm left flooding and destruction far and wide. Here are some powerful images as compiled by Melissa Nana Deal on the New Castle News Facebook page.
     

    July 12, 2013 1 Photo 1 Slideshow 1 Story

  • Nick's.tiff Photos, Video, Story: A wild afternoon

    A tornado touched down in New Beaver Borough, then high winds and heavy rain caused major flooding throughout Lawrence County. We document a wild afternoon with a photo gallery, video clips and a story.
     

    July 11, 2013 1 Photo 1 Slideshow

  • Tornado.tiff Tornado touches down in the county

    A tornado reportedly touched down in New Beaver borough in southern Lawrence County Wednesday afternoon. Initial reports indicated two barns were destroyed but there were apparently no injuries to people.

    July 10, 2013 1 Photo

  • Morgan.jpg Local man could set foot on Mars

    A former New Castle man could be among the first to set foot on Mars. Dr. Andrew Morgan, 37, is among eight selected by NASA for this year’s astronaut candidate class. The eight-member group — four men and four women — were selected from more than 6,300 applicants.

    June 18, 2013 1 Photo

  • police.jpg Police arrest 15 in drug roundup

    Police in Lawrence County arrested 15 people Thursday as part of an ongoing sweep of accused drug dealers. Lawrence County District Attorney Joshua Lamancusa said the detail, dubbed “Operation Spring Cleaning,” began around 10 a.m.

    June 14, 2013 1 Photo

  • lightning.jpg Storm causes power outages

    Penn Power reported that 153 Lawrence County customers had power outages Thursday morning resulting from storms that hit the area.

    June 13, 2013 1 Photo

House Ads
Poll

It’s been a unique week on the marriage front. Actress Jodie Foster married her longtime girlfriend, while a lesbian trio that wed last year, who bill themselves as a “throuple,” have announced they are expecting. What’s your take on alternative unions?

I’m against it. I believe in one man, one woman.
I’m OK with it. As long as they’re adults, they can marry whoever they want.
A lesbian “throuple?” Really? SMH.
     View Results