New firm buying Tecumseh, Mich., molder
By Rhoda Miel | PLASTICS NEWS STAFF Posted January 24, 2011 TECUMSEH, MICH. (Jan. 24, 2:50 p.m. ET) — A newly-formed company has announced plans to buy injection molder Tecumseh Thermo Plastics and make it the base of a business that will be a custom molder supplying the auto and medical industries as well as other firms.
GLOV Enterprises LLC is based in Troy, Mich., and made up of veterans of molding and mold making businesses including Collins & Aikman Corp., Fischer Automotive Systems, MoellerTech LLC and Global Tooling & Engineering.
In plans announced through the Tecumseh Economic Development department in Tecumseh, Mich., GLOVE said it plans to complete the acquisition of the assets of Tecumseh Thermo Plastics, a molder with 18 presses and a 50,000 square foot factory. It will then invest more than $1 million and create up to 60 new jobs during the next two years, the company said in a Jan. 5 news release.
The plans are contingent on approval of local and state tax incentives. The city of Tecumseh has applied for a grant through the Michigan Community Development Block Grant program to help finance the purchase of new equipment.