MOSCOW (MRC) -- Elliott Group announced plans to close its Packaging Solutions operations in Belle Vernon, Pennsylvania by the end of 2020, and to consolidate design engineering and manufacturing operations for unit packaging and auxiliary systems with its primary Engineered Products business in Jeannette, said Hydrocarbonprocessing.
"The decision to close our Belle Vernon facility was a difficult but necessary step to sustain Elliott’s auxiliary products portfolio while reducing the fixed costs associated with maintaining a separate, stand-alone operation,” said Michael Lordi, CEO of Elliott Group. “Closing the Packaging Solutions operation will impact the 40 people who work there, but we are making every effort to absorb some positions into Jeannette."
Over the next several weeks, Elliott will phase out operations at the Belle Vernon Facility as open orders are completed. We will process new orders for unit packaging and auxiliary systems through our Engineered Products business in Jeannette.
"Leveraging the capabilities of our Jeannette operations and our broad based network of global, suppliers will improve our competitive position and strengthen our ability to support customer requirements for unit packaging, lube oil systems, and buffer and dry gas panels,” said Shugo Hosoda, Vice President of Engineered Products. “Throughout the transition, we will maintain existing points of contact and provide uninterrupted customer service and supply chain support."
As MRC informed earlier, China Resources Packaging, a major manufacturer of petrochemicals in the country, plans to commission a new line at its polyethylene terephthalate (PET) plant in Zhuhai, Guangdong, southern China, in the fourth quarter of this year. The capacity of the new line will be 500 thousand tons per year. With its launch, the company's total capacity for the production of bottle PET granules in China will grow to 2.1 million tonnes per year.
According to ICIS-MRC Price report, in Russia, July formulae prices for contract customers were in the range of Rb65,000-67,500/tonne CPT Moscow, including VAT. Prices of material in the spot market remained steady last week, Russian producers continued to ship material from 20 tonnes at a price of Rb70,000-72,000/tonne CPT Moscow, including VAT.
MRC