Sonoco Rebuilds Hartselle Plant - Analyst Blog
13 May 2011 - 12:24AM
Zacks
Sonoco Products Co. (SON) has started
rebuilding the Hartselle, Alabama operations, damaged by fire in
November 2010 and expects to commence production later this
summer.
The facility manufactures molded wood plugs, which are used
largely by the paper industry in the tubes and cores. The company
is investing approximately $4.6 million in the new manufacturing
facility, which will be located at the site of the existing
building, adjacent to the company’s Hartselle nailed wood/plywood
reels plant. The facility location also has a team to look after
the manufacturing of wood products and an on-site source of wood
chips.
The facility is likely to have eight molded wood plug presses
while it will have a space to contain twelve, leaving the company
the scope to expand in case demand increases.
The plant situated in Hartselle-Morgan County Industrial Park
will initially operate with 25 to 30 employees, and will be
equipped with modern controls and fire protection. The new means
and methods of fire protection include isolation of hydraulic power
units on the outside of the building, fire suppression redundancies
and fire wall separation of the manufacturing area from the
warehouse.
Hartsville, South Carolina-based Sonoco is a global manufacturer
of consumer and industrial packaging products. The company has more
than 300 operations in 35 countries throughout North and South
America, Europe, Australia and Asia.
The company operates through four reportable segments: Tubes and
Cores/Paper, Consumer Packaging, Packaging Services and All Other
Sonoco segment. Sonoco competes with Bemis Company
Inc. (BMS) and Smurfit-Stone Container
Corp. (SSCC). We currently have a Zacks #4 Rank
(short-term Sell recommendation) on the stock.
BEMIS (BMS): Free Stock Analysis Report
SONOCO PRODUCTS (SON): Free Stock Analysis Report
SMURFIT-STN NEW (SSCC): Free Stock Analysis Report
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